Category : Featured

Deals & DealmakersFeatured

Harbor Group buys NBA office building for $47M

REW Staff
by REW Staff
Harbor Group International announced that affiliates of the company have acquired 100 Plaza Drive,Secaucus, NJ, a 265,000 s/f, four-story office building primarily occupied by NBA Entertainment … Continued
Deals & DealmakersFeatured

Harbor cashing in on blistering apartment market

REW Staff
by REW Staff732
The Harbor Group is selling the 203-unit Esquire apartment portfolio for $46 million. The sale price equates to $221,000 per unit, according to brokers involved in the deal, a “very healthy price” for the Washington Heights neighborhood. It was a much more sickly set of buildings that Harbor bought out of foreclosure in 2011. According to reports at the time, the four-building rent regulated portfolio — 19 West 143rd Street, 610 West 163rd Street and 548 West 164th Street — was among thousands of victims of predatory lending.
Retail Properties scoops up second property for $134M
Deals & DealmakersFeatured

Retail Properties scoops up second property for $134M

REW Staff
by REW Staff681
Retail Properties of America, Inc., (RPAI) has scooped up its second property in as many weeks in a $133.9 million deal to buy Fordham Place in The Bronx. Jeffrey Dunne and David Gavin of CBRE’s New York Institutional Group represented both RPAI and seller, Acadia Strategic Opportunity Fund II, LLC, a subsidiary of Acadia Realty Trust. Just last week, RPAI closed on the sale of Pelham Manor Shopping Plaza, a 228,000 s/fcommunity center anchored by BJ’s Wholesale located in Pelham Manor, New York. The total transaction size of both properties was approximately $192.4 million.
MTA taps developer for Columbus Circle subway retail concourse
Construction & DesignFeaturedRetail

MTA taps developer for Columbus Circle subway retail concourse

REW Staff
by REW Staff967
In a first-of-its-kind public/private retail venture, the Metropolitan Transportation Authority has selected Columbus Development LLC to develop and manage a high-end retail destination on the concourse of the 59th Street-Columbus Circle subway station. Shop//Stop, which will include up to 30 retailers ranging from food and beverage to apparel and technology accessories, will occupy the 27,000 s/f retail concourse and is expected to be completed in early 2015.
Deals & DealmakersFeatured

Guiliani offers up his brand of ‘can’t do any worse’ politicking at CoreNet

REW
by REW719
Telling a packed group of CoreNet delegates he won election on a ‘you can’t do any worse' slogan, former Mayor Rudy Giuliani offered up some words of advice for Bill de Blasio. “Change all of your campaign promises,” he told the group during a Q&A with COlumbia University professor Esther Fuchs. “I think he should take all of those and throw them in the garbage and become a centrist mayor,” said Giuliani. “Mayors cannot be ideological. If they are, they fail. I say that on both sides. Cities are too complicated to have a political ideology superimposed on them, you have to look for practical solutions."
Go-getter Portelli sees change on every corner
Deals & DealmakersFeatured

Go-getter Portelli sees change on every corner

REW
by REW725
Highcap Group co-founder Christen Portelli wants to keep history alive in New York City — while helping the city move into the future. Portelli, a managing principal at Highcap who left Besen & Associates with her colleagues Larry Ross and Josh Goldflam in 2008 to launch Highcap, said her favorite deals involve transforming landmark buildings. She just sold a $42 million Chetrit building at 396 Broadway in Tribeca that buyer, Bridgeton Holdings, is likely to convert to apartments.
LeFrak Family makes $10M donation to Prospect Park project
Construction & DesignFeatured

LeFrak Family makes $10M donation to Prospect Park project

REW Staff
by REW Staff1073
The Prospect Park Alliance and the New York City Department of Parks & Recreation announced a $10 million donation from the LeFrak family in support of Lakeside, the largest and most ambitious project in Prospect Park since the park opened in the late 19th century. The facility will be named the Samuel J. and Ethel LeFrak Center at Lakeside in honor of the parents of LeFrak Organization CEO Richard LeFrak and his sisters. The entire 26-acre project will open in December and have year-round programming at the Samuel J. and Ethel LeFrak Center, including winter ice skating and summer roller skating and a water feature for children and families, combined with a restored landscape and vastly improved park access.
NGKF to reposition Three Gateway Center
Deals & DealmakersFeatured

NGKF to reposition Three Gateway Center

REW Staff
by REW Staff875
Newmark Grubb Knight Frank (NGKF) has been tapped to reposition Three Gateway Center in Newark, a 579,000 s/f Class A office tower owned by Tahl Propp Equities. The brokerage announced today (Monday) that a team from its Rutherford, NJ, office, along with William Cohen in New York, have been tasked with repositioning, marketing and re-leasing the 19-story tower as long-time tenant Prudential prepares to move out. Prudential – an original tenant of the Gateway complex – won a $200 million tax incentive to build a new headquarters building in downtown Newark. Its net lease runs through December 2014 when it will leave the tower.
Deals & DealmakersFeatured

Prodigy Network in contract to buy 17 John St for $85 million

REW Staff
by REW Staff770
Prodigy Network had a productive Friday. On the day it announced the purchase of 84 William Street for $60 million, the investor signed a contract for the purchase of 17 John Street for $85 million. It hopes to raise $66 million for 17 John Street through crowd funding from accredited investors – a target figure made possible by recent SEC rule changes. Both buildings are sold by Metro Loft.