Category : Featured

Debt & EquityFeatured

Meridian arranges $180M loan for APF’s Club Row Building

REW
by REW879
Meridian Capital Group arranged $180 million in financing for the Club Row Building in Midtown on behalf of APF Properties. Last month, APF Properties took 100 percent ownership of the building at 28 West 44th Street, buying out the 80 percent equity stake held by Prudential Real Estate Investors (PREI) and valuing the property at $235 million. At the time, Kenneth Aschendorf, principal of APF Properties, called the move "part two" of the firm's strategy to capitalize on a $9 million capital improvement program as the market for Class ‘B’ office buildings in Midtown flourishes.
Jared Kushner buys Astoria portfolio
Deals & DealmakersFeatured

Jared Kushner buys Astoria portfolio

REW
by REW1771
Kushner Companies has acquired a four-building, 143-unit multi-family portfolio in the Astoria section of Queens for $51 million, the company’s first investment in the neighborhood. The announcement was made by Jared Kushner, CEO of Kushner Companies.
Jonathan Kushner makes investment in residential brokerage
Deals & DealmakersFeaturedResidential

Jonathan Kushner makes investment in residential brokerage

REW
by REW1004
Kushner Real Estate Group and Ironstate Development are investing in residential brokerage, Modern Spaces. As a result of the investment, Modern Spaces aims to expand significantly over the next couple of years throughout New York City and into other markets like Jersey City, where KRE and Ironstate currently operate thousands of units and have over 5,000 units under construction. Together, KRE and Ironstate have built more than 2,000 condominium and rental apartments in the Tri-State Region together.
Debt & EquityFeatured

All eyes on Fed as rates stay low

REW
by REW848
New York’s real estate industry has long been preparing for interest rates to start rising in mid-2015. But what if they don’t? Over the past two months, a slowdown in inflation, declining wages and economic risk abroad have made it more likely that the Federal Reserve will delay its return to monetary normalcy. Some economists are even urging a new round of asset purchases, or quantitative easing. For the real estate industry, this offers opportunities as well as risks.
Report: Industry shielded from rising rates
Debt & EquityFeatured

Report: Industry shielded from rising rates

REW
by REW1006
While benchmark interest rates are expected to rise in 2015, a new survey shows that most real estate executives are not as worried about interest rate increases as they are confident in the Federal Reserve’s ability to manage any increases in a thoughtful manner. “Industry participants see another year of...
FeaturedREBNY Watch

REBNY reign coming to an end with a burst of energy initiative

REW
by REW1013
By Steven Spinola Next week, our industry will convene for what is always one of my favorite nights of the year, the REBNY Annual Banquet which will take place at the New York Hilton on January 15. Tickets are still available, but they won’t last. In between meeting new contacts,...
Resales push Manhattan apartment sales to $5.4B fourth quarter record
FeaturedResidential

Resales push Manhattan apartment sales to $5.4B fourth quarter record

REW
by REW872
In 2014, the thirst for inventory in Manhattan was quenched by a revitalized resale market and the results helped the borough maintain its 2.5-year streak of increased closing prices per square foot. Residential brokerage Urban Compass reports that the finale of 2014 saw Manhattan’s sales hit the highest Q4 total dollar closed sales volume ever, coming in at about $5.4 billion
Plus-sized leader signs jumbo deal at One NY Plaza
Deals & DealmakersFeatured

Plus-sized leader signs jumbo deal at One NY Plaza

REW Staff
by REW Staff963
OSP Group, a direct-to-consumer leader in women’s and men’s apparel dedicated exclusively to plus sizes, is relocating its corporate headquarters from midtown Manhattan to One New York Plaza in Lower Manhattan. Newmark Grubb Knight Frank (NGKF) executive managing director Brian Goldman and managing director Eric Cagner represented OSP Group in...
Deals & DealmakersFeatured

State announces $16.5M in affordable housing grants

REW Staff
by REW Staff1078
Governor Andrew M. Cuomo announced more than $16.5 million has been awarded for the construction of 240 new units of affordable housing across New York State. In addition to increasing the State’s supply of affordable housing, these four shovel-ready projects are helping rebuild communities affected by natural disasters, create supportive...
2014: It was a good year for real estate, and for NYC
Featured

2014: It was a good year for real estate, and for NYC

REW
by REW826
In 2014, New York City’s future only became brighter. As a result, it was another good year for real estate. Crime continued to drop and job growth continued upward, reaching historic lows and highs respectively. Manhattan, Brooklyn, The Bronx, Queens, and Staten Island continue to attract people from around the...