Category : Featured

Leading ladies take center stage
Deals & DealmakersFeatured

Leading ladies take center stage

REW Staff
by REW Staff766
The Real Estate industry’s girl power will be in the spotlight in midtown on Feb. 15. The first annual Real Estate Weekly Women’s Forum will held at the McGraw-Hill Conference Center, 1221 Avenue of the Americas, at 49th Street. Over 300 participants are expected to attend to hear from keynote speakers MaryAnne Gilmartin, of Forest City Ratner, and Leslie Himmel, of Himmel and Meringoff Properties, along with two dozen other presenters and panelists representing the industry’s best female talent. Registration for this event is still open. Visit http://rewomensforum.com/ to sign up and to cast your vote for the most influential woman in real estate.
SJP signs 200,000 s/f deal with Pearson
Deals & DealmakersFeatured

SJP signs 200,000 s/f deal with Pearson

REW Staff
by REW Staff1041
SJP Properties will start work on the third and final stage of its Waterfront Corporate Center in Hoboken, NJ, this fall after signing global learning giant Pearson as an anchor tenant. At a press conference at the site yesterday (Tuesday) SJP president Steve Pozycki and Pearson boss Rich Glicin announced that the text book publisher would lease 200,000 s/f and relocate hundreds of New Jersey employees to a new, state-of-the-art office building on Hoboken’s waterfront. The deal comes after New Jersey's Economic Development Authority awarded Pearson an $82 million tax break to stay in the Garden State rather than relocate elsewhere.
Deals & DealmakersFeatured

Builders meet office demand by thinking outside box

REW Staff
by REW Staff1039
By Liana Grey As Manhattan’s creative firms and tech startups expand, many are looking beyond Midtown and the Financial District for office space. “An incredible amount of development is taking place outside of Midtown and Downtown,” Seth Pinsky, head of the New York Economic Development Corporation, explained during a panel discussion hosted by the accounting firm Margolin, Winer & Evens last week. Christopher Albanese, president of the Albanese Organization, discussed his plans to build a Class A glass-curtain tower at 510 West 22nd Street in far west Chelsea, with 52 feet of frontage on High Line Park.
FeaturedResidential

A broker with time on her side

REW Staff
by REW Staff884
By Roslyn Lo As her firm launches sales at the new eco-friendly Jade 8 in Gowanus this month, Warren Lewis Realty president Aroza Sanjana is feeling some good karma. “Jade 8 is a nice match for what we stand for,” said Sanjana, a former sales executive who founded her own real estate development firm and who purchased the Brooklyn-based Warren Lewis brokerage last year.Describing the luxury condo as “modern” and “cutting-edge,” while still adhering to traditional Brooklyn architecture, Sanjana said she has tried to breathe new life into the 25-year old firm from the top down.
Deals & DealmakersFeatured

Lenders see pay dirt in Brooklyn apartment market

REW Staff
by REW Staff1120
By Al Barbarino Lenders are feeling looser than they have in 12 months, as Brooklyn finds itself on the verge of a construction lending revival. Brooklyn’s rising rental and condo prices paired with comparatively tame land costs make the borough increasingly more attractive for developers and lenders looking for solid returns on their investments, industry professionals said.
Deals & DealmakersFeatured

S&B closes on $240M loan for 70 Pine Street purchase

REW Staff
by REW Staff1200
The Singer & Bassuk Organization has arranged for $240 million in financing for the purchase of 70 Pine Street. The former AIG headquarters building was purchased by a joint venture between developer-owner Nathan Berman's Metro Loft and Eastbridge Sarl for $205 million. The loan was made to an entity known as EBNB, an acronym for Eastbridge and Nathan Berman, which intends to convert the vacant, million-square-foot office tower to a luxury residential rental building with about 1,000 units. It is the largest rental conversion in lower Manhattan since the end of the 421g tax abatement program and one of the largest conversions ever undertaken.
Developer goes live with Stuy Town co-op spin
Deals & DealmakersFeaturedResidential

Developer goes live with Stuy Town co-op spin

REW Staff
by REW Staff2708
Developer Gerald Guterman, of Guterman Westwood Partners, has launched a website aimed at explaining his plan to convert Stuyvesant Town/Peter Cooper Village into co-ops. The interactive website (www.stpcvfacts.org) encourages residents of the massive East Side complex to send in questions about the plan and offers “straightforward answers to the tough questions that community residents have been raising and talking about for years,” said the developer in a statement. “Guterman Westwood Partners believes that no conversion of the community can or should occur without the support of the vast majority of its current residents.”
Brokers deliver LIC site for new FedEx hub
Deals & DealmakersFeaturedHeadline

Brokers deliver LIC site for new FedEx hub

REW Staff
by REW Staff1487
By Al Barbarino FedEx is building a new 140,000 s/f distribution center in Long Island City. “The new facility is part of a nationwide network expansion to boost daily package volume capacity and further enhance the speed and service capabilities of the FedEx Ground network,” said David Westrick, a company spokesman. Construction work on the facility, which will ultimately replace an existing compound at 5590 48th Street in Queens, is expected to begin in February. It is set to open in the spring of 2013 and will cost roughly $56 million, including land, construction and “material-handling equipment.”