David Simon Passes Away After Battle with Cancer
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CREFC’s Lisa Pendergast Retiring in August
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Brookfield Revives GGP Name for Malls
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City: New York City
377,000 square feet of office space within the CitySpire building in Midtown Manhattan.
The office space, which underwent some $22 million of upgrades in recent years, is 98% occupied by tenants that include footwear company Caleres Inc. and law firm Windels Marx Lane & Mittendorf LLP.
73-75 Sullivan St. in Manhattan
AV Management has paid $43.3 million, or $3.94 million/unit, for an 11‑unit apartment building at 73-75 Sullivan St. in Manhattan. The New York investment manager purchased the property from affiliates of P. Zaccaro Co. The acquisition was financed in part ...
Loft Building in Manhattan’s Meatpacking District Sells for $100Mln
Commercial Observer Caprice Holdings, a London owner/operator of restaurants and clubs, has paid $100 million, or $3,333/sf, for the Triangle Loft building at 675 Hudson St. in Manhattan's Meatpacking District. The company plans to convert the property, a five-story former ...
JPMorgan Aims Sale of Stake in Manhattan’s 605 Third Ave. Office
The Real Deal JPMorgan Asset Management is looking to sell its 49% stake in the 1 million-square-foot 605 Third Ave. office building in Midtown Manhattan. The investment manager, which owns its stake in the property on behalf of the Commingled ...
M&T Realty Lends $141.4Mln Against Manhattan Apartments
M&T Realty Capital Corp. has provided $141.4 million of financing against the recently completed 194-unit Anagram Turtle Bay apartment property in Manhattan. The loan allowed the property's developer—a venture of Global Holdings, Safanad, and MAG Partners, which is led by ...
Rialto, Hines Provide $229.9Mln of Financing for Manhattan Offices
Rialto Capital Management and Hines have provided $229.9 million of short-term financing against the 707,181-square-foot Textile Building in Manhattan's Midtown South submarket. The bridge loan was arranged by Walker & Dunlop Capital Markets Institutional Advisory. It allowed the 19-story building's ...
Airbnb Seen Paying $81.5Mln for Manhattan Office
Wall Street Journal Airbnb Inc. is said to have purchased the 42,500-square-foot office building at 281 Park Ave. South in Manhattan's Midtown South submarket for $81.5 million, or $1,917/sf. The historic building, commonly known as the Church Missions House, was ...
Appraised Value of Brooklyn, N.Y., Building Plunges; CMBS Deal Gets Downgraded
Commercial Real Estate Direct Staff Report The 12-story mixed-use building at 250 Livingston St. in Brooklyn, N.Y., has been reappraised at a value of only $23.1 million, contributing to Morningstar DBRS' downgrade of five principal-paying classes of one of the ...
Midtown Manhattan Office-to-Residential Conversion Evacuated After Beams Found Buckling
New York Times The 38-story office property at 235 East 42nd St. in Midtown Manhattan that is undergoing a residential conversion has been evacuated as construction workers noticed cracks, as well as structural support beams beginning to buckle on the ...
Continued Occupancy, Cash Flow Issues Prompt Manhattan Office Loan’s Transfer to Special Servicing
Commercial Real Estate Direct Staff Report The $37.5 million loan against the 58,850-square-foot Ditson Building in Lower Manhattan has been transferred to special servicing due to imminent default. The loan, securitized through BANK, 2018-BN13, pays a fixed rate of 5.43% ...
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Commercial Real Estate Direct is the only source -- in print or otherwise -- that keeps close tabs on the entire real estate capital markets industry. It provides up-to-date market intelligence on the mortgage business, equity raising, investment sales and CMBS.
