Category : Featured

Prices on rise as eager buyers shell out more for slice of Queens
FeaturedResidential

Prices on rise as eager buyers shell out more for slice of Queens

REW
by REW1044
Move over Astoria, the burgeoning Queens neighborhood of Sunnyside is gaining steam fast, with affordable rents and easy transit to Manhattan. The community of Sunnyside is marked by quiet, tree-lined streets, pre-war six-unit apartment buildings and a stellar view of the Empire State Building from Queens Boulevard.
Finance leases add up to 63,000 s/f at 477 Madison
Deals & DealmakersFeatured

Finance leases add up to 63,000 s/f at 477 Madison

REW Staff
by REW Staff833
Cassidy Turley has negotiated three leases with current tenants at 477 Madison Avenue totaling 63,382 s/f for Trepp, LLC, Bankrate, Inc. and Elara Capital PLC. David L. Hoffman, Jr., executive managing director, principal, and Whitnee Williams, associate vice president, of Cassidy Turley, represented owner JAB Madison Associates in all three transactions. The Trepp and Elara leases were direct transactions, and Dave Armento, CEO of New Dominion, represented Bankrate.
Deals & DealmakersFeatured

Hines closes on $1B office tower sales

REW Staff
by REW Staff860
The New York office of Hines, announced that a subsidiary of the Hines U.S. Core Office Fund LP closed on the sale of 499 Park Avenue to an institutional fund managed by American Realty Advisors. The Core Fund also closed on the sale of 425 Lexington Avenue to institutional investors advised by J.P. Morgan Asset Management. Exact sale prices of each building were not disclosed; however, the combined sale price totaled more than $1 billion.
Deals & DealmakersDebt & EquityFeatured

With multi-family party in full swing, all eyes are on interest rates

REW Staff
by REW Staff932
Low interest rates, combined with anxious sellers trying to avoid higher taxes, set off a flurry of activity in the multi-family market last year. And for the first half of 2013, even without luxury-tax Chicken Littles pushing market activity, the game of multi-family hot potato has continued. But a possible party pooper has arrived, in the form of higher interest rates.
Related getting into the money business
Deals & DealmakersFeatured

Related getting into the money business

REW Staff
by REW Staff903
Powerhouse developer Related Companies has formed a joint venture with investment firm Highbridge Principal Strategies (HPS) to manage a new real estate credit investment platform. The partners say they will invest $800 million in real estate debt, specifically gap financing, for real estate projects in transition across the United States.
Deals & DealmakersFeatured

Medina leaves Cushman for CBRE

REW Staff
by REW Staff
Gil Medina has left Cushman & Wakefield for CBRE, the company announced this morning. GIL MEDINA Medina will serve as an executive vice president in … Continued
Construction & DesignFeatured

China firm’s $1B hotel plan

REW
by REW925
By Holly Dutton China’s largest commercial real estate firm is in talks to spend $1 billion building a four-star New York City hotel and adjacent apartment building. The chairman of the Dalian Wanda Group told Reuters in Beijing last week that he expects to make a formal announcement of the deal in the third quarter of this year.
Deals & DealmakersFeatured

CBRE counting on Rosenthal to grow debt, equities share

Sarah Trefethen
by Sarah Trefethen741
By Sarah Trefethen CBRE’s newest hire is ready to make up the difference in the firm’s share of New York’s debt and equities market. Shawn Rosenthal joined CBRE’s New York office this month, after 12 years with the Ackman-Ziff Real Estate Group. Rosenthal specializes in mezzanine financing, higher interest loans that can increase the leverage on a property from the 60 or 65 percent offered by standard mortgage lenders to as much as 80 or 85 percent.
Construction & DesignFeatured

Hotel developer Hidary looking forward to nights on the town in new hot district

REW Staff
by REW Staff777
By Orlando Lee Rodriguez For most of the last 20-odd years or so, the Manhattan hotel market was not one to see much growth in the supply of hotel rooms, and with good reason. In 1993, New York City saw 1,946 homicides and 86,001 robberies, and that was a 2.5 and 5.7 respective percent drop from the year before. Compare those crime numbers with 2012, when there were 414 total murders. Crime is down so much in fact, that on November 26, there was not a single shooting, stabbing or homicide recorded. Lower crime has helped to bring in a record 52 million visitors last year and has driven construction of new hotels, more than 70 opening between 2008 and 2012, according to a market study by HVS Global Hospitality Services and NYU Preston Robert Tisch Center.
Construction & DesignFeatured

Bonjour starts luxury condo

REW
by REW1063
By Orlando Lee Rodriguez Real Estate investment and development firm Bonjour Capital has broken ground on what will become the newest luxury development along Brooklyn Heights’ landmarked main strip. The development site, located at 172-174 Montague Street, between Court and Clinton Streets, was purchased last year by Bonjour in a $12 million all cash deal from a Florida retiree who had owned the property since 2002.