Category : Featured

By Roland LiHotelier Sam Chang's Metro Six Hotel LLC, an affiliate of McSam Hotel Group, has sold a Holiday Inn Express at 126 Water Street for $36.7 million, according to city records. The buyer was a subsidiary of Pennsylvania-based Hersha Hospitality, which owns fourteen other hotels in the city. The 26-story hotel, located at the corner of Wall Street, was completed in the summer of 2010 and has 112 guest rooms, according to the Lower Manhattan Construction Command Center.

By Daniel GeigerSince leaving Mayor Bloomberg’s administration last summer, Bob Lieber has stepped from government to the front lines of the real estate downturn. Speaking at a breakfast yesterday in Lower Manhattan hosted by New York Law School’s Center for Real Estate Studies, Lieber discussed how Island Capital Group, the real estate investment firm he joined after working as the deputy mayor of economic development for two years, has positioned itself to take advantage of the wave of distress he still expects will hit the market.

By Roland LiRREEF, the real estate arm of Deutsche Bank, has purchased a retail condo at 473-475 Broadway for $42.9 million, according to city records. The seller was Manhattan-based Premier Equities. The ground-floor retail space spans over 9,000 s/f among two buildings, as well as an 8,000 s/f basement storage space, said a Carol Hensley, director of real estate management at Premier Equities. Scoop NYC, an apparel retailer, has a long-term lease.

By Roland LiFor Andrew Ackerman, there's no place like home. "I always had a passion for New York City," said Ackerman, who grew up just north of the city, in Mamaroneck, N.Y. As a leasing associate at Vornado Realty Trust, he has been a significant force in moving tenants into the company's New York office portfolio of over 22 million s/f. While at the REIT, Ackerman has been involved in 80 leases, totaling roughly 700,000 s/f.

By Daniel GeigerThe Financial Industry Regulatory Authority has completed a deal to take 204,000 s/f at One World Financial Center. The organization, which according to public information is the largest independent regulator of U.S. securities companies, will be relocating to the space from other locations downtown, primarily the office buildings 14 Wall Street and 20 Broad Street. FINRA, as the authority’s name is often abbreviated, will fill One World Financial Center’s entire 9th, 10th, 11th, and 12th floors.

Robert Knakal, Massey Knakal By Roland Li Citywide investment sales volume increased by 45% to $3.9 billion in the first quarter of 2011, compared to … Continued