By Al Barbarino Massey Knakal has sold a three-story building, located at 991 Third Avenue (aka 201 East 59th Street) on the northeast corner of East 59th Street and Third Avenue in the Midtown East section of Manhattan. The transaction valued at $18,420,000 and the price per square foot was approximately $4,039
By Al Barbarino Atlas Capital Group, a real estate investment and management firm, has purchased a redeveloped 166,000 s/f, 13-story Chelsea office building at 218 West 18th Street for $62.5 million, city records show. Located on the south side of 18th Street, between Seventh and Eighth Avenues, the building is at the center of the city’s bustling tech scene, within a few blocks of Google’s gargantuan offices at 111 Eighth Avenue. Atlas has tapped a CBRE team to lease up the building, which is 65% vacant.
A New York Building Congress analysis of U.S. Census data found that the New York City Department of Buildings (DOB) issued residential permits for 8,936 … Continued
By Al Barbarino 511 West 25th Street Real estate developer and manager Related Companies has closed on the purchase of a 195,000 s/f building located … Continued
By Al Barbarino In 1992, within a few days of graduating from the University of Hartford, Mark Gollin found himself in the hot seat at a late night interview with the once prestigious investment bank Bear Stearns. The 9 p.m. interview time was strange enough, but Gollin was further rattled when the two and half hour grilling session concluded with a few blunt questions from a Bear executive.
By Al Barbarino Every game has its winner and loser. In the game of Manhattan real estate, Midtown South will be 2012’s crowned victor. Speaking at a Real Estate Board panel called “Believe in growth, where it’s happening, who’s growing, why it’s happening and how to get in on it,” CBRE vice chairman Kenneth Rapp predicted, “We’re going to see [Midtown South] really surge in 2012.”
Developer Douglas C. Steiner has unveiled plans for a new 50-story apartment building he promises will be “the best in Brooklyn.” Located at 333 Schermerhorn Street, at the intersection of Third Avenue and Flatbush Avenue, The Hub will have 740 rental units as well as retail space and parking for over 250 vehicles. A groundbreaking is slated for the Fourth Quarter of 2012.