Category : Featured

Deals & DealmakersFeatured

Cantor Fitzgerald spin-off buys Newmark Knight Frank

REW Staff
by REW Staff3838
By Daniel GeigerBGC Partners, a spin-off of the large investment banking firm Cantor Fitzgerald, has acquired the real estate services company Newmark Knight Frank for an undisclosed sum, the company announced this morning. BGC, a company that brokers the trade of a range of financial products and securities, said that it is buying a majority interest in Newmark Knight Frank’s entire U.S. operations, including its New York office, which is one of the city’s major office leasing brokerages.
FeaturedResidential

Billionaire Jeff Greene buys troubled 62 Wooster Street for $26.27 million

REW Staff
by REW Staff3617
By Roland LiBillionaire Jeff Greene, who made a fortune betting against subprime mortgages, has picked up another sort of distressed asset. Greene's firm, Coral Gables, FL.-based Florida Sunshine Investments, Inc., has purchased 62 Wooster Street for $26.27 million, according to city records. The building, which also has the address 476 Broome Street, was a planned luxury conversion by Trinity Development Group, with five residential units, a roof-top swimming pool and 4,000 s/f of retail space with art galleries.
Deals & DealmakersFeatured

U.N. Women takes 85,000 s/f at 220 East 42nd Street

REW Staff
by REW Staff1767
By Daniel GeigerU.N. Women, a newly formed office of the United Nations that became operational earlier this year, has taken 85,000 s/f at 220 East 42nd Street. Asking rents in the building are around $55 per s/f, although it was not clear by press time what the UN had negotiated to pay. The deal will bring a U.N. tenant back to the roughly 1.1 million s/f property after the United Nations Population Fund relocated from the building to Third Avenue last year.
Deals & DealmakersFeatured

Xerox inks lease for 4,000 s/f at 64 West 48th Street

REW Staff
by REW Staff950
By Daniel GeigerXerox has taken a small space at the midtown office building 64 West 48th Street, according to sources. The company has leased part of the building’s eighth floor, a roughly 4,000 s/f space. Asking rents at the property are in the $30s per s/f, though it wasn’t clear by press time exactly what rate Xerox negotiated to pay in the deal.
Ownership of affordable housing complex transferred for $15.18 million
Deals & DealmakersFeatured

Ownership of affordable housing complex transferred for $15.18 million

REW Staff
by REW Staff1374
By Roland LiThe ownership of an affordable housing development at 475 West 57th Street has been transferred for $15.18 million, according to city records. The building, the Dorothy Ross Friedman Residence, includes 178 units of affordable housing for senior citizens and tenants with HIV and AIDS. Ownership was transferred from Aurora Associates, LP to Friedman Residence, LLC.
City Planning seeks new zoning for residential development among older office buildings
Construction & DesignFeatured

City Planning seeks new zoning for residential development among older office buildings

REW Staff
by REW Staff1121
By Roland LiThe Department of City Planning has initiated a public review for a new zoning district that would allow residential development among older Class B and C office buildings. The effort is meant to foster mixed-use areas that encourage retail and commercial tenants that include new media, architecture firms and the arts, according to City Planning. The public review coincides with the review of the creation of such a district south of Penn Station.
Deals & DealmakersFeatured

CBC Hunter Realty’s Sabesan and Selig go global

REW Staff
by REW Staff1340
By Roland LiAround two years ago, Peter Sabesan and Richard Selig saw an opportunity. The two co-founders of Hunter Realty Organization were approached by Coldwell Banker Commercial, whose parent company has almost 10,000 global offices and a presence throughout the real estate industry. After months of negotiations, Sabesan and Selig partnered with Coldwell, rebranding their company at the beginning of 2010.
Deals & DealmakersFeatured

Byrnam Wood’s track record grows

REW Staff
by REW Staff
Joseph Thanhauser, Brynham Wood By Daniel Geiger Joseph Thanhauser used to work for a major commercial real estate owner and operator in a corporate office … Continued
Construction & DesignDeals & DealmakersFeatured

Charter school rises on Harlem public housing site

REW Staff
by REW Staff1214
By Roland LiThe New York City Housing Authority (NYCHA) has sold a parcel of land to Harlem Children’s Zone, a nonprofit group, for $7.04 million, according to city records. The land, which is located on the St. Nicholas Houses public housing project, will be developed into a five-story, 135,000 s/f charter school and community center. The Children’s Zone has a $100 development budget for the project.