Category : Featured

55 million visitors make NYC hospitality sector investors darling
Deals & DealmakersDebt & EquityFeatured

55 million visitors make NYC hospitality sector investors darling

REW
by REW945
The global hospitality sector — riding a broad wave of growth, innovation and demand — is in a strong position to make further gains during 2015 as fresh capital from new locales increases the number of industry participants and creates an attractive atmosphere for acquisition. The infusion of fresh cross-border capital and innovation in both properties and concepts will be the key drivers of growth in 2015. Michael Fishbin, EY’s Global Hospitality & Leisure Leader, said, “We expect the hospitality industry to experience significant growth, development and brand expansion in the coming year. Despite some significant headwinds — such as geopolitical instability, new health concerns and inconsistent economic growth — the global industry is thriving and optimism prevails.”
Aussies open first outpost in Williamsburg
FeaturedRetail

Aussies open first outpost in Williamsburg

REW
by REW960
Lee & Associates’ Garry Steinberg and Jaime Schultz have brought another retailer to rapidly-changing Williamsburg. Aesop, an Australian skincare company, signed a lease for 500 s/f at the Lewis Steele Building at 76 N4th Street, the duo exclusively told Real Estate Weekly. The company is a “boutique-y” all-natural brand, started in 1987, and currently has six retail locations in Manhattan. This will be its first Brooklyn location.
REIT makes FiDi investment
Deals & DealmakersFeatured

REIT makes FiDi investment

REW
by REW901
American Realty Capital’s New York City REIT (NYCR) has snapped up the FiDi office building 123 William Street for $253 million. The seller of the 545,000 s/f property is East End Capital. The purchase is the biggest one to date for the relatively new REIT. Founded in early 2014, it is one of two REITs under the American Realty Capital umbrella that focus exclusively on commercial properties in New York City.
Construction & DesignFeatured

Bold de Blasio adds 160,000 units to housing ‘to do’ list

REW
by REW1019
The Real Estate Board of New York yesterday (Tuesday) applauded Mayor de Blasio’s call to strengthen his affordable housing plan by a further 160,000 units. Calling the decision “bold,ˮ REBNY president Steve Spinola said the mayor’s call for an additional 160,000 market-rate units, above and beyond the 200,000 affordable units the administration plans to build or preserve over the next decade, “will go a long way to keeping New York the greatest city in the world in which to live, work, and raise a family
FeaturedResidential

Newlyweds in love with the business of real estate

REW
by REW1406
By Dan Orlando Navigating Manhattan’s upper-tier residential marketplace can be an overwhelming task without the right team. Naturally, savvy buyers seek out the best professionals to help them find their next home. “The one point that we sell to people, as opposed other brokers, and even teams, is that you’re...
‘Mr Silicon Alley’ is latest big hire for Cushman
Deals & DealmakersFeatured

‘Mr Silicon Alley’ is latest big hire for Cushman

REW
by REW1408
Former Cresa principal, Wesley Rudes, has joined Cushman & Wakefield as executive director. A prolific downtown broker, Rudes is credited with helping spur the development of New York's Silicon Alley by helping launch an initiative that leased pre-built, web-enabled space to 250 technology companies in Lower Manhattan. His is the latest in a flurry of big hires and new faces at Cushman.
Deals & DealmakersFeatured

Cresa relocates non-profit to 85 Broad Street

REW
by REW707
The New York office of Cresa, North America’s largest tenant representation firm, secured a 15-year, 38,407 s/f office lease at 85 Broad Street for Year Up, a Boston-based nonprofit that provides support for urban young adults looking to develop their professional careers. Cresa New York will relocate Year Up to...
Construction & DesignFeatured

Crowdfunders issue 3 WTC offer

REW
by REW951
Crowdfunding platform Fundrise is offering up to $5 million worth of bonds for Silverstein Properties' planned office tower 3 World Trade Center to its investors. The offering doesn't involve any new debt issuance for the tower, which is already fully funded through State-backed Liberty Bonds. Rather, Fundrise has bought some of the bonds and is now offering them to its investors on the secondary market.