Category : Featured

Builder row not necessarily the final nail in coffin
Construction & DesignFeatured

Builder row not necessarily the final nail in coffin

REW
by REW853
In real estate as in personal relationships, a divorce can be the best solution for all involved. A week after Skanska canceled its contract to build Forest City Ratner’s Pacific Park modular tower in Brooklyn, it seems less and less likely that the sides will come back together. This means Forest City Ratner may be forced to find a new contractor for the half-finished residential project — once hailed the future of construction but now mired in delays and cost overruns. While switching contractors halfway through a project is unusual, it can end up being the lesser evil.
Weil, Gotshal signs 400,000 s/f renewal at GM Building
Deals & DealmakersFeatured

Weil, Gotshal signs 400,000 s/f renewal at GM Building

REW Staff
by REW Staff1411
International law Firm Weil, Gotshal & Manges LLP announced today (Tuesday) that it has signed a 15-year lease extension starting in 2019 for approximately 400,000 s/f of office space, occupying approximately 10 floors, at The General Motors Building, at 767 Fifth Avenue in New York. “The General Motors Building has been our home since the building opened in 1968,” said Weil executive partner Barry M. Wolf.
ABS Partners doubling down on Midtown South
Deals & DealmakersFeatured

ABS Partners doubling down on Midtown South

REW Staff
by REW Staff1005
As ABS Partners Real Estate ventures into Brooklyn and Queens, the firm continues to reap the rewards of its early focus on Midtown South. Business and design educator, General Assembly, has leased an additional floor with 13,386 s/f of space at ABS’ office building 915 Broadway, expanding its office to 40,158 s/f. The deal comes on the back of Israeli technology firm, Conduit, leasing 3,000 s/f at the building. Nonetheless, limited inventory and sky-high prices in Manhattan are pushing even ABS into the boroughs.
Kaufman’s historic 2 Gansevoort a perfect fit for hot fashion house
Deals & DealmakersFeatured

Kaufman’s historic 2 Gansevoort a perfect fit for hot fashion house

REW Staff
by REW Staff965
In a boost to the ongoing upgrade and repositioning of its landmarked Meatpacking District office building at 320 West 13th Street, owner William Kaufman Organization has completed a long-term 79,000 s/f lease with the fashion house, Theory Holdings LLC, for multiple full floors at the historic property.
Northmarq inks $192M construction loan for Mack-Cali ‘micro-towers’
Deals & DealmakersDebt & EquityFeatured

Northmarq inks $192M construction loan for Mack-Cali ‘micro-towers’

REW Staff
by REW Staff773
Northmarq Capital’s New Jersey office negotiated a $192,000,000 construction to permanent loan on URL Harborside 1. The project will be located at 200 Greene Street in the Harborside Financial District in Jersey City, New Jersey, and will consist of a 69 story apartment tower containing 763 units, 5,204 s/f of retail space and an eight-story parking garage containing 222 spaces. The building will be one of the first in the market to introduce an emerging concept sustainable and space efficient units under the banner of URL® (Urban Ready Living®).)
Deals & DealmakersFeatured

Startup riding second wave in real estate crowdfunding

REW
by REW853
Crowdfunding’s seemingly inevitable advance into the real estate industry faces a rather mundane obstacle: lack of technological expertise. A number of established development and brokerage firms have recently begun considering their own online crowdfunding platforms, but few have the IT specialists necessary to make them a reality. This is where...
Prodigy Network closes on 17 John St. for $85.3M
Deals & DealmakersFeatured

Prodigy Network closes on 17 John St. for $85.3M

REW Staff
by REW Staff2384
Prodigy Network has closed on the purchase of 17 John Street in downtown Manhattan. 17John was purchased for $85.3 million, with more than $25 million in crowdfunded equity, senior financing from Deutsche Bank and subordinate financing from a New York based institutional investor. Accredited investors from over 12 different states...