Category : Featured

Cayuga Capital draws crowd to Brooklyn

REW April 1, 2015 April 1, 2015

by REWApril 1, 2015April 1, 20151564

Realty Mogul has completed its first-ever crowdfunding project in New York, raising $1.6 million from 46 investors for two apartment buildings in Brooklyn and enabling project sponsor Cayuga Capital Management to recapitalize the property. Jilliene Helman, CEO of Realty Mogul, said “The buildings in this transaction are directly in the path of growth in Brooklyn and so represent an opportunity for our investors to be positioned for long-term value creation."

Deals & Dealmakers Featured

Marijuana company scanning Manhattan for space

REW April 1, 2015 April 1, 2015

by REWApril 1, 2015April 1, 2015913

Medical marijuana is poised to become a player in New York City real estate, though an obstacle course of restrictions stands in its way. Twenty-three states in the U.S. and the District of Columbia have passed medical marijuana laws, including New York, which passed its own law in July of last year. The state’s Health Department will soon be issuing its final regulations regarding the new program, and according to marijuana entrepreneur Derek Peterson, firms are lining up to get a foothold in the city. “When the laws are passed, so many people are competing and there’s such an intense scramble because sometimes the zoning is extremely restrictive and hard to find, and a lot of people are chasing a very small footprint,” said Peterson, whose firm grows medical marijuana along with organic veggies it sells to supermarkets.

Featured Residential

Apartment price dip a sign of new stability, say experts

REW April 1, 2015 April 1, 2015

by REWApril 1, 2015April 1, 2015871

While the opening quarter of a given year is typically expected to be mild compared to the close of its predecessor, New York’s residential markets saw a bearish first quarter which bogged down a climb that spanned across more than two years. After 10 consecutive quarters of growth, the overall median price per square foot in Manhattan appears to have reached its peak at the close of 2014, according to Compass’ Q1 market analysis. The final act of 2014 notched a record-breaking $1,445 median price psf, but 2015’s opening quarter sustained a three percent decrease in this area, reports Compass. This quarter-over-quarter decline is indicative of stabilizing prices rather than a rapid plummet in value, according to Compass.

Deals & Dealmakers Featured Property Managers

CBRE to pay $1.48B for office management business

REW March 31, 2015 March 31, 2015

by REWMarch 31, 2015March 31, 2015895

CBRE has entered into an agreement to acquire the Global WorkPlace Solutions (GWS) business of Johnson Controls, Inc. GWS provides Integrated Facilities Management solutions for major occupiers of commercial real estate and has significant operations around the world. The purchase price is $1.475 billion

Deals & Dealmakers Featured

Finance upstart making himself heard among industry bigs

REW March 26, 2015 March 26, 2015

by REWMarch 26, 2015March 26, 20152279

By Konrad Putzier Competitive debaters need to be able to make a convincing argument for pretty much anything. At a given tournament, they may be asked to argue that euthanasia is desirable, that heroin should be legalized or that the world is flat микрозайм на карту. Adi Chugh is a...

Deals & Dealmakers Featured

Parking magnate Lowell Harwood dead

REW March 25, 2015 March 25, 2015

by REWMarch 25, 2015March 25, 20151086

Lowell Harwood, the Jersey City parking boss who grew his business to a $100 million empire, has died. He was 85. Harwood, who led Harwood Properties, built and grew the business, breaking into the competitive New York market with a shrewd business model of choosing the right locations and charging reasonable prices.

Featured Retail

Legislation could save mom and pops from New York’s retail giants

REW March 25, 2015 March 25, 2015

by REWMarch 25, 2015March 25, 2015760

New legislation could curb a trend of mom-and-pop businesses being replaced by banks and chain stores. Manhattan Borough President Gale Brewer said she’s drafting legislation that would make it mandatory for a building’s owner to at least allow a retail tenant a chance to negotiate to keep his or her space. “The future of street level retail stores and restaurants... has begun to look murky,” Brewer said. “Every day, the press has another story about a kids’ clothing store or a shoe repair shop closing to make room for a chain or a bank."

Featured Green Building

L&L creating New York’s healthiest building at 425 Park

REW March 25, 2015 March 25, 2015

by REWMarch 25, 2015March 25, 20151214

L&L Holding announced that it is seeking to create New York City’s first WELL Core & Shell Compliant office tower at 425 Park Avenue. The company has officially registered the development to pursue WELL Core & Shell Compliance, the first building standard to focus on enhancing people’s health and well-being through the built environment.

Deals & Dealmakers Debt & Equity Featured

$120M mortgage for 30 Park purchase

REW March 24, 2015 March 24, 2015

by REWMarch 24, 2015March 24, 2015965

Meridian Capital Group has negotiated $120 million in financing for the purchase of 30 Park Avenue. Public records show the 20-story building was purchased by Thor Equities for $179 million. However, Cammeby's International has taken a majority stake in the property. Eli Shron, a vice president at Cammeby's, signed the mortgage agreement for borrower.

Construction & Design Featured

MdeAS to reinvent Himmel + Meringoff tower

REW March 23, 2015 March 23, 2015

by REWMarch 23, 2015March 23, 2015979

The partnership of Himmel + Meringoff and The Swig Company, co-owners of 1460 Broadway, the 215,000 s/f, mixed-use Bryant Park office tower, has selected MdeAS Architects to redevelop and reposition the 16-story property acquired jointly last September, 2014.