Category : Featured

Editorial SupplementsFeatured

Immigrant investors helping foot bill for NYC projects

REW Staff
by REW Staff1012
By Daniel Geiger A type of transaction that permits foreigners to invest in the United States in exchange for residency rights has caught on as a popular financing mechanism for real estate and development deals in the city. The EB-5 Immigrant Investor Program, as the vehicle is called, has been used on a number of recent real estate projects in the city, including the just signed $180 million deal to redevelop the George Washington Bridge Bus Terminal.
Deals & DealmakersFeatured

Marks Paneth & Shron to take 100,000 s/f at 685 Third Avenue

REW Staff
by REW Staff907
By Daniel GeigerMarks Paneth & Shron, the accounting firm, is arranging a roughly 100,000 s/f lease at 685 Third Avenue, several sources with direct knowledge of the firm’s search say. The firm, which will be relocating from nearby 622 Third Avenue, is in talks to take three base floors in the property for rents in the $50s per s/f. The deal will be the first in the roughly 600,000 s/f property since it was acquired by the pension fund TIAA-CREF a year ago from the pharmaceutical giant Pfizer for about $190 million. Pfizer, which had fully occupied the building, left after the sale and consolidated elsewhere in midtown, leaving the property fully vacant.
Deals & DealmakersFeatured

Chelsea Hotel sale closes for $77.8 million

REW Staff
by REW Staff1082
By Roland LiThe Chelsea Hotel has sold to the Chetrit Group for a closing price of $77.8 million, according to city records. The sellers were the descendants of a partnership that had managed the hotel since taking over in the 1970s. Marlene Krauss president of Chelsea 23rd Street Corp., signed the deed for the seller. Behind the scenes, Meridian Capital Group, LLC brokered $85 million in financing for the Chetrit Group and Clipper Equities.
FeaturedResidential

Susy Glasgall, the queen of selling castles

REW Staff
by REW Staff912
By Roslyn LoSome of the most coveted luxury properties in New York surround one attraction: a view of Central Park, a rare glimpse of lush greenery in the concrete jungle. North from the City, Susy Glasgall is dealing with a different kind of luxury: sprawling manors, tennis courts, golf courses, pools, and winding, gated driveways. The Westchester area — explored first by Italian explorer Giovanni da Verrazzano in 1524 — is now the seventh wealthiest county in the nation, and the second in New York State outside Manhattan.
Brokers WeeklyFeatured

The new players

REW Staff
by REW Staff
Brokers at the new A.C. Lawrence Offce By Roland Li In January, Ilan Bracha, one of the top producers at Prudential Douglas Elliman, left to … Continued