Young guns hit the big money bullseye
By Konrad Putzier Flush with $31 million from a recent capital raising, crowdfunding startup Fundrise is thinking big. Crowdfunding startup Fundrise raised $31 million to … Continued
Category : Featured
Lawyers make Grand gesture
Jennison Associates has agreed to renew and expand the space it is leasing in 237 Park Avenue, a Grand Central District property in Manhattan owned … Continued
Galin cut from same cloth as veteran city brokers
By Konrad Putzier Entering the real estate industry from a different field is hardly unusual, but few start off as COOs. SCOTT GALIN When Scott … Continued
Team leader keeping up the Pace
By Holly Dutton One of the keys to a Citi Habitats’ broker’s success came from an unlikely event — a life-altering car accident. Stefani Pace was in the middle of her career as a broker back in 2005 when she was riding her Vespa in Manhattan and was hit by...
REBNY announces commercial property management winners
More than 750 members of the real estate industry gathered yesterday at the Hilton New York to honor the city’s most outstanding leaders in the field of commercial property management at The Real Estate Board of New York’s (REBNY) 11th Annual Commercial Management Leadership Breakfast featuring Daniel L. Doctoroff, CEO...
Housing boom could could be big blow to city’s small biz
In East Harlem, affordable housing comes with a price. Dozens of low-wage workers are set to lose their jobs once the city begins work on a new cultural and residential center, which will likely contain both market-rate and affordable units, on a sparsely-built, low-rise block between 125th and 126th streets and 2nd and 3rd Avenues. A gas station, a tire repair shop, an auto repair shop, a hair-braiding salon, a recycling business and a church are all facing eviction under eminent domain. The tenants’ struggle against eviction is part of a citywide trend. In many parts of Manhattan, Brooklyn and Queens, businesses are being pushed out to make way for residential development. The resulting loss of jobs could pose a problem for Mayor de Blasio’s affordable housing plan.
Read all about it: City wants billboard tax
By Holly Dutton Mayor De Blasio’s administration is cracking down on a decades-old commercial tax on billboards that advertisers have been skipping out on. The six percent commercial tax on office leases brings in $700 million a year but, in recent years, the department of finance has been lax in...
Architects to show off ‘alternative’ Atlantic Yards
Rendering by OPerA Studio In response to concern about the direction that development of the Atlantic Yards might take and the potential impact on the … Continued
Fund signs triple-digit lease at Carnegie Hall Tower
Two of the brains behind a $17 billion dollar private equity business sold to Apollo in 2012 have leased triple-digit offices at Carnegie Hall Tower. Sources say Anthony Edson and William Sheoris, two of the original founders of Stone Tower Capital, have signed a lease for an approximately 5,000 s/f pre-built office on the 27th floor at the famed tower for their new hedge fund, Fair Oaks Capital, in the Plaza District building owned by TF Cornerstone. Edson and Sheoris started their hugely successful Stone Tower Capital with a 4,500 s/f space in the base of Carnegie Hall Tower in 2003.
Hotel REIT pays $95M for Times Square Courtyard
Carey Watermark Investors Incorporated has acquired the Courtyard Times Square West for $95 million. The REIT said it expects "a solid cash flow" from the 224-room hotel in what is considered the strongest hotel market in the US.