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Meridian brokers $592M loan for record-breaking multifamily purchase

REW
by REW2551
Meridian Capital Group negotiated a $592 million loan for the purchase of 24 multifamily properties located throughout New York, NY on behalf of Blackstone Real Estate Partners VIII and Fairstead Capital. The five-year loan, provided by a balance sheet lender, features a LIBOR-based floating-rate and interest-only payments for the full...
Deals & Dealmakersuncategorized

Veteran real estate figure Burt Hollenbeck dead at 88

REW
by REW1366
Burton George Hollenbeck, Sr., a veteran of the New York real estate industry and founder of The Hollenbeck Company, died on August 28 at the age of 88. A son of the Greatest Generation, Burt was born on August 3, 1927 in Jersey City, N.J. to Joseph and Edna Hollenbeck. He was the...
ECO BRIEFS: First Service Residential Energy Report Cards, Biodiesel School Busses
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ECO BRIEFS: First Service Residential Energy Report Cards, Biodiesel School Busses

REW Staff
by REW Staff939
● FIRSTSERVICE RESIDENTIAL Energy report cards issued The New York division of FirstService Residential has issued Energy Report Cards for the fifth year to more than 400 multifamily properties in its portfolio. Spearheaded by the company’s energy subsidiary, FS Energy, the goal is to inspire condo and co-op board members...
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SELLING POINTS: Blesso makes Broadway purchase, Thor buys in Harlem

REW Staff
by REW Staff933
● Blesso properties Blesso to transform former bank building Blesso Properties, a West Village-based development firm, has purchased 525-545 Broadway, a development site in East Williamsburg, Brooklyn, for $33 million. The transaction equates to nearly $170 per buildable square foot, in a market that is trading in the $250 to...
C&W backs NYU program
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C&W backs NYU program

REW Staff
by REW Staff840
Cushman & Wakefield will serve as exclusive real estate sponsor for New York University’s tech incubator program. Sponsored by the Polytechnic School of Engineering, the program features three incubators located across three tech hotspots – SoHo, DUMBO and MetroTech. The program is focused on providing the tools for startups to...
New Development: Work underway at Greenpoint condo, Ground broken for HAP rental
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New Development: Work underway at Greenpoint condo, Ground broken for HAP rental

REW
by REW1428
HML Development Work underway at Greenpoint condo Gal Nagar’s HML Developments is developing a boutique condo on the Greenpoint waterfront. 170-174 West West Street will be a six-story, 70 ft. tall structure with 15 apartments, Designed by  StudiosC architectural firm, the building’s exterior will be mottled white and gray brick...
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New listings: Extell’s Jane Klaris lists $15.5M Carlton House unit

REW
by REW1338
Extell’s Jane Klaris has listed unit 6E at The Carlton House for $15.5 million. The five bedroom, 5.5-bath home occupies 4,060 s/f in the building, which has been transformed into 68 residences. The brick and limestone exterior of The Carlton House is being preserved and restored to its original appearance....
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ABS fills 9 East 37th Street

REW Staff
by REW Staff533
ABS Partners has brokered two leases totaling 15,000 s/f at 9 East 37th Street, a 12-story office building between Fifth and Madison Avenues. Ron Zimmerman, Andy Udis and Ian Weiss of ABS brokered the transactions on behalf of the landlord, 9 East 37th Street Associates, and brought the property to...
FirstService separates from Colliers
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FirstService separates from Colliers

REW Staff
by REW Staff788
FirstService Corporation has become an independent public company after being separated from Colliers International Group Inc. FirstService shares began trading on The NASDAQ Stock Market and on the Toronto Stock Exchange under the stock symbol FSV yesterday (Tuesday). The spinoff highlights the company’s position as North America’s largest residential property...
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Investors relocate to Vornado’s 640 Fifth Avenue

REW Staff
by REW Staff699
Employee-owned investment advisors, HS Management Partners, LLC, will relocate its corporate headquarters to 640 Fifth Avenue. Savills Studley advised the company on the 10-year, 10,523 s/f transaction. HS Management Partners is expected to move from its current 5,620 s/f location at 598 Madison Avenue at the end of 2015. Savills...