Hell’s Kitchen site fetches $50M
DHA Capital, the recently-formed development and investment firm with a $250 million purse, has bought a Hell’s Kitchen development site for $50 million. The company, … Continued
Category : Featured
City opens doors on 1M s/f of island space
Sarah Trefethen
by Sarah Trefethen817
Governor’s Island is open for business. Forty buildings in the island’s historic district are being made available for lease for up to 69 years under a Request for Proposals issued last week by the Trust for Governor’s Island, a nonprofit organization in charge of the operations, planning and redevelopment of the island, where it owns 150 acres.
Reba never rests on her laurels
REW
by REW886
At 23 years old, Reba Miller walked into the luxury boutique real estate firm Whitbread-Nolan for her first day. She was promptly given a seat and told: “you’re on your own.” Today, over $1 billion worth of sales and almost 30 years later, Ms.Miller, who made her name by almost dominating the market on Madison Avenue, continues to be a go-to name in New York City real estate across continents.
Retail powerhouse Firestein is always brewing up deals
REW
by REW915
David Firestein isn’t stumped by the question of what he’s most proud of – it’s even emblazoned on his license plate. “It says SBUX 1, which is the New York Stock exchange symbol for Starbucks,” says Firestein with a laugh. The SCG Retail CEO brokered the deal for the first Starbucks in...
Ratner ‘knocking up’ Atlantic Yards
Sarah Trefethen
by Sarah Trefethen2568
If Tuesday’s groundbreaking ceremony for the first residential tower at Atlantic Yards was a long time coming, it was a long time that Bruce Ratner has spent making friends. Among the event’s long list of speakers was not only Brooklyn Borough President Marty Markowitz and Building and Construction Trades Council of Greater New York President Gary LaBarbera, but activist and former ACORN head Bertha Lewis. “How did I meet Bertha?” Ratner asked, by way of introduction. “She protested me for two weeks.”
TriStar sells for $50M
REW
by REW1003
A portfolio of two of the city’s hottest investments classes — mutli-family and retail — has been sold for $49.925 million. Dalan Management Partnered with RWN Real Estate Partners and Standard Property Company to purchase the TriStar Portfolio, a package of five mixed-use, walk-up buildings in the West Village, Lower East Side, and NoLIta. “The combination of great retail presence with an excellent mix of free market and rent stabilized residential tenancies makes the acquisition of these five well located buildings a highly compelling investment opportunity on many levels,ˮ said the investors in a statement.
Dermot Co. breaks ground on new rental tower
REW Staff
by REW Staff866
The Dermot Company, Inc. and its partner, the AFL-CIO Building Investment Trust (BIT), today announced the acquisition and groundbreaking of 21 West End Avenue, at the southwest corner of West 61st Street and West End Avenue. The 43-story building will be LEED certified and have 616 rental apartments, with over 30,000 s/f of amenities for its residents, a four-story New York City public school for children pre-kindergarten through 8th grade, and 23,725 s/f of retail space. “We’re very excited about bringing this special building to the Upper West Side,” said Stephen N. Benjamin, COO of The Dermot Company. 21 West End Avenue is the first building of the five-building Riverside Center Master Development plan approved in December 2010.
Industry group takes corporate view
Sarah Trefethen
by Sarah Trefethen1008
Times have changed in corporate real estate. And Marcus Rayner wants to spread the word about an organization he thinks can help professionals make sense of the world of modern business. Over the past 20 years, the work of corporate real estate managers has shifted from focusing mainly on individual deals to a broader, more strategic oversight of often far-flung and diverse portfolios, the outgoing chairman of CoreNet Global’s New York chapter says. At the same time, the way that companies interact with their space continues to change amid growing interest in both employee productivity and environmental efficiency.
$33M Nolita apartment sale
Orlando Rodriguez
by Orlando Rodriguez
Edmond Levy Cornerstone Real Estate Investments has completed a $33 million sale for five adjacent apartment buildings on Elizabeth Street, just south of Houston Street, … Continued
Stribling scion takes reins at luxury brokerage
REW Staff
by REW Staff1151
ne of New York’s most prestigious family-owned residential brokerages, Stribling & Associates, has announced that Elizabeth Ann Stribling-Kivlan has been named president of the 32-year-old firm. Elizabeth Stribling, who founded the firm in 1980, will assume the role of chairman of her eponymous company. Kirk Henckels, head of Stribling’s luxury arm, Stribling Private Brokerage, is also taking the position of vice chairman of Stribling & Associates. “Stribling is more than a real estate company, it’s my home. That’s why it is such an honor to name my only daughter as president of the firm to continue my vision,” said Elizabeth Stribling.