Who gets the check when dead deals come back to life?
By Howard M. Rubin, Partner Goetz Fitzpatrick LLP Sometimes, in real estate transactions, the dead can come back to life. The most common fact pattern … Continued
Category : Featured
Blackstone bulks up on real estate
Asset management behemoth Blackstone had the second best quarter in its history, and its real estate investments played a big role. Blackstone’s global real estate assets grew by 26 percent year-over-year in dollar volume to a staggering $80.41 billion, leading to an economic income of $489 million in the second quarter.
Investment tally hits $73M at upstart residential brokerage
By Konrad Putzier It’s been a rocky first year for Urban Compass, but the brokerage startup finally seems to be living up to the hype. … Continued
Silverstein signs 100,000 s/f tech tenant at 4 WTC
Silverstein Properties announced today that global technology company MediaMath has signed a 15-year, 106,000 s/f lease at 4 World Trade Center. The company will consolidate its more than 300 NY-based employees from three Midtown locations into the 44th, 45th, and 46th floors of 4 World Trade Center when it moves into the...
Office leasing sees across-the-board improvement
By Dan Orlando Peter Turchin For the first time since 2000, all major leasing indicators in Manhattan markets improved during the second quarter. In conjuncture … Continued
Michael Stern buys Chelsea site for $35 million
By Konrad Putzier Michael Stern Michael Stern’s JDS Development Group and Largo Investments have bought a three-story loft building at 510-514 West 24th Street … Continued
Bob Barone taking some of the risk out of business for high-profile investors, lenders
With millions of dollars on the line, it’s no surprise that banks want some assurances when it comes to the commercial real estate loans they hold. The go-to guy for this peace of mind is Robert Barone of IVI International, Inc. Barone was recently promoted to president of the company from the construction risk management division, which is currently lending its expertise on more than 400 projects, worth in excess of $16 billion.
Roket revels in bringing her very best to negotiating table
Nina Roket, the woman on the front lines of the upcoming Turn-Style project at Columbus Circle Station, claims to have “fortuitously” landed in real estate, leading to partnership early in her career at Olshan Frome Wolosky LLP, and ultimately becoming a member of the firm's executive committee. But 16 years of dealing in real estate transactional work, a BA from Fordham University, a JD from New York Law, and a marked determination to close deals suggest that Roket’s success is the product of more than simple luck.
Stuy Town cheating claims spark new lenders lawsuit
CWCapital has been sued by holders of Stuyvesant Town’s mezzanine debt who claim that the new owner cheated them out of hundreds of millions of dollars. The lawsuit is being led by Centerbridge Partners, which is representing six limited liability companies who are named as plaintiffs. The suit follows a decision by CW last month to take title to Stuyvesant Town/Peter Cooper Village through a deed rather than hold a foreclosure sale that had been scheduled for June 13.
DA cracks craigslist construction safety scam
Renegade contractors hired hairdressers and bellhops from craigslist to act as safety inspectors at city construction sites, according to charges filed by the Manhattan District Attorney’s office. Richard Marini and Richard Sfraga, managed consulting firm Avanti, which purported to provide licensed site safety managers for active construction projects. But an investigation by the New York City Department of Investigation (DOI) with assistance from the New York County District Attorney’s Office (DANY) found that between 2012 and 2014, Avanti and NYCB Engineering Group, LLC, falsified more than 450 documents at 40 construction sites across Manhattan.