Tiny apartments get test-drive in NYC museum design exhibit
Mayor Bloomberg touring a micro unit in January at the opening of MCNY’s “Making Room” exhibit, which showcases examples of small-footprint homes from around the … Continued
Category : Featured
NGKF sales maestro is a big hit on the investment stage
Steven Schultz has been in real estate his whole life, but he says his real business is people. STEVEN SCHULTZ “I love the challenge of building that relationship. I love the way you have to angle and show and serve,” he said. “Anybody and everybody can decide to do business with whoever they want.” It’s not just client relationships that keep Schultz’s business running. When he joined Newmark Grubb Knight Frank as an executive managing director last year, he brought with him the six-person team he’d worked with as the founder and CEO of Helios Capital Advisors. “I’ve surrounded myself with some great talent,” he said.
CRE group driving think tank into real estate arena as industry continues to evolve
By Sarah Trefethen There may be no way to know what the future holds for property values, environmental stability, or the global economy, but the … Continued
Lightstone closes on $43M finance deal for Fulton Street tower
The Lightstone Group has closed a $43 million pre-development loan with Banco Inbursa for its Fulton Street Project. The project is an assemblage of three fee parcels and seven air-rights parcels in Lower Manhattan, between Nassau and Dutch streets, creating a 422,000 gross square foot development site. The parcels were all acquired by Lightstone for approximately $76 million. Upon completion, the project will consist of 475 luxury residential units in 58 stories.
Volunteers arriving at Silverstein’s 120 Wall en masse
In a move that brings some 180 employees from cities throughout the United States to a new headquarters in lower Manhattan, Colliers International has arranged a 15 year, 41,000 s/f corporate relocation on behalf of AFS-USA to Silverstein Properties’ 120 Wall Street. 120 Wall Street Formerly the American Field Service, AFS-USA is a non-profit that provides international and intercultural learning experiences through a global volunteer partnership. The group decided to consolidate and relocate its four existing offices — one each in Baltimore; Portland, Oregon; St. Paul, Minnesota; and 1 Whitehall Street in Manhattan — to 120 Wall Street. It will occupy the entire fourth floor and space on the third floor when it moves in by the end of 2013.
Crooked lawyer fined $100,000 for forging condo plans
Attorney General Eric T. Schneiderman announced the felony guilty plea of real estate attorney Eduard Fridman to securities fraud. Fridman admitted in State Supreme Court in Manhattan to forging six condominium plan acceptance letters from the Attorney General’s Real Estate Finance Bureau and filing certain of them with the New York City Department of Finance. The forged documents allowed Fridman’s blameless clients, the condominium developers, to sell apartments to the public while evading the Attorney General’s regulatory oversight.
Northwood pays $150M for 100 Broadway
Northwood Investors, a leading privately-held global real estate investment firm, has purchased 100 Broadway, a 24-story office building located on the southeast corner of Broadway and Pine Street in downtown Manhattan, right in the heart of Lower Manhattan. Brookfield Financial, a global investment bank and real estate investment sales firm, served as the sole advisor to Northwood Investors on this off-market transaction. The Brookfield Financial team, led by Managing Partner Chris Wilson, was also responsible for bringing Northwood together with the sellers.
Rudin welcomes Israeli financiers
The Development Corporation for Israel, an international financial organization, is relocating to the Rudin Family’s midtown office tower at 641 Lexington Avenue. The company has signed a 15-year, 25,000 s/f lease comprising the entire 9th floor of the 32-story, 400,000 s/f building, which occupies the northeast corner of Lexington Avenue at 54th Street.
BOND announces partnership with mapping app
BOND New York announced its partnership with newly launched Citymaps, the world’s first dynamic and interactive social mapping platform. Unlike static, directional maps, Citymaps puts the places that one loves first, and streams them in as one moves around the map. Users can create and share maps, and explore places around them at a glance. Citymaps for the iPhone is available for free download in the Apple App Store.
Bizzi’s The Leonard turning heads downtown
Just blocks from City Hall, the corner of Broadway and Leonard Street does not immediately strike passersby as a residential neighborhood. But the brains behind Italian developers Bizzi & Partners are sure that’s about to change. “We’re a big believer in trying to get there first,” said Steven Della Salla, managing principal at Bizzi. “We definitely believe that whole area is going to come together in very short order.”