Staten Island firm to build data centers in Japan for $270M
By Konrad Putzier Telehouse has announced it will build two large data centers in Japan with a price tag of $270 million, in another sign … Continued
Category : Featured
Lower yields draw New York developers to Israeli bonds
In their hunt for cheap financing, New York developers are increasingly turning to the Israeli bond market. Last week, the Tel Aviv daily Haaretz reported that the Witkoff Group and the Lightstone Group are considering selling bonds in Israel for 500 million Shekels, or $141.6 million, each. They would follow...
Office space company takes full floor at 1WTC
The Durst Organization has signed Servcorp, a global provider of equipped executive offices and virtual office space, to a 15-year, 34,775-s/f, full lease on the 85th floor of One World Trade Center. With the closing of this transaction, the 3.0-million-s/f office tower is now 57.5-percent leased. Servcorp’s One World Trade...
Texas-based appraisal firm enters the NYC market
Texas-based valuation and advisory firm Butler Burgher Group (BBG) has entered the New York City market, acquiring the appraisal firm Leitner Group for an undisclosed amount. During a transitional period following the transaction, the New York office will operate as “Leitner Group, now part of BBG.” Leitner Group founder Joel Leitner...
ABS marketing hot Tribeca site for more than $70M
The chance to build a neighbor for some of Tribeca’s toniest apartment buildings drove the price of a Broadway site up to $73 million. Alan … Continued
Klosed bets on Soho growth
Steven Kachanian’s Klosed Properties has bought a 2,200 s/f retail condo at 202 Spring Street for $7 million. The deal is another sign that Soho’s retail market is continuing its rapid expansion – geographically as well as financially. The retail condo at the corner of Spring and Sullivan Streets is...
Superhero style gives new venture a sporting chance
By Dan Orlando Darrin Harrold wears the mantle of successful real estate entrepreneur the same way Bruce Wayne wears his Batman cape. A strong believer in the motto, “Do what makes you happy and you’ll never work a day in your life,” the owner of Tri Properties appears determined to...
Far East Brooklyn nabe on the verge of residential boom
By Holly Dutton The Brooklyn neighborhood of East New York has been on the tip of everyone’s tongue lately, with the area posed to be … Continued
Good news, bad news as cash buyers retreat
All-cash sales accounted for 37.9 percent of all sales of single family homes and condos nationwide in the second quarter, according to Data firm RealtyTrac’s Q2 2014 U.S. Institutional Investor & Cash Sales Report. This share is down from a three-year high of 42.0 percent in the previous quarter but still up from 35.7 percent in a year ago. “The flurry of purchases by institutional investors and other cash buyers that kicked off two years ago when U.S. home prices hit bottom is finally showing signs of subsiding,” said Daren Blomquist, RealtyTrac vice president, noting that median home prices bottomed out in March 2012.
Apartment plan for Crown Heights brewery building
Crow Hill Development has sold a 22,000 s/f development parcel at 608-614 Franklin Avenue in Crown Heights for $17.5 million. TerraCRG’s Melissa DiBella said that the developer recently filed plans for a mixed-use residential building.