Yorkville gets a boost as deBlasio family moves in
Gracie Mansion By Sarah Trefethen New York City’s incoming mayor, Bill de Blasio, and his family announced last week that they will be moving in … Continued
Category : Featured
JLL tapped to lease 1.2M s/f Park Avenue Atrium
Jones Lang LaSalle has been selected by RXR Realty LLC and Walton Street Capital LLC to lease 237 Park Avenue, formerly known as Park Avenue Atrium. RXR Realty and Walton Street Capital have launched a $50 million capital improvement program to transform the building they purchased in November. There is currently 450,000 s/f of office space available.
Affordable housing demand driving growth in lending sector
Eastern Union Funding negotiated a series of multi-family loans in the Bronx totaling $35.65 million for one client. The loans were originated by senior managing director Eli Breiner. The string of deals reflects the solvency of multifamily product in New York City, according to Breiner, who refinanced a total of 360 residential and six commercial units.
Law firm offers reward for car-jack killers
The law firm of Adam Leitman Bailey, PC, has offered a $10,000 reward for information leading to the arrest of the men who killed New Jersey lawyer, Dustin Friedland. Friedland, 30, was shot by gunmen who car-jacked his 2012 Range Rover while he was Christmas shopping in Jersey’s Short Hills Mall with his 27-year-old wife, Jamie, on Sunday night. Jamie is a landlord-tenant attorney at Adam Leitman Bailey.
Class action Sandy suit stumped
A Supreme Court judge dealt a blow last week to an attempt to bring a class-action lawsuit against New York City landlords on behalf of tenants displaced by Hurricane Sandy. In her decision, the judge expressed reservations about treating tenants in storm-affected buildings as a single group in court because every apartment is different. “Computing damages in any way other than tenant-by-tenant runs the risk of glossing over the needs of each tenant and the individual efforts of each landlord,” the judge wrote.
Paper Factory developer expanding hotel portfolio
Madison Realty Capital (MRC) just closed a $27,000,000 first mortgage loan that will be used for the repayment of existing construction financing on the Paper Factory hotel, located at 37-06 36th Street in Long Island City, Queens, NY. In addition, the borrower will also use the financing for the purchase and repositioning of two contiguous buildings currently operating as short-term stay hotels located at 1109-1111 Manhattan Avenue and 66-80 Clay Street in the Greenpoint section of Brooklyn.
Space exploration on everybody’s mind
Office users are are giving more thought to how their space can help boost productivity and recruit top talent. That's the finding of a new report from Cushman & Wakefield following a global survey identifying the key drivers of workplace transformation. Occupiers cite human resource factors, such as recruiting, employee collaboration, workforce productivity and improved work/life balance over cost factors as drivers of workplace change.
Rockrose pays $105M for Flatiron office building
Rockrose Development Corp. and Savanna announced that 15 East 26th Street, a 150,000 s/f boutique commercial office building located on Madison Square Park between Madison and Fifth Avenues, was purchased by Rockrose for $105 million. Craig Deitelzweig, head of Rockrose’s office division, represented Rockrose in-house in the transaction. Adam Spies, Doug Harmon, Adam Doneger and Joshua King of Eastdil Secured represented Savanna.
Cushman & Wakefield names new CEO
Cushman & Wakefield has named former Goldman Sachs executive Edward C. Forst president and chief executive officer of the company. He will join the firm effective January 6, 2014. Forst replaces Glenn Rufrano, who left the company in June and has since returned to his former firm, O’Connor Capital Partners.
Moinian shows off 3 Hudson Boulevard
The Moinian Group today unveiled four new renderings for its 1.8 million square foot LEED Platinum tower, located on 11th Avenue between West 34th and West 35th Streets, which is designed by architect Dan Kaplan FAIA of FXFOWLE. “We are set to deliver a truly spectacular building at 3 Hudson Boulevard — the pinnacle of the new Far West Side,” said Joseph Moinian, founder of The Moinian Group.