Subject: Property Management (MGMT)
Bankruptcy Court Allows Removal of SL Green as Manager of 245 Park in Manhattan
Crain's New York Business A bankruptcy court judge has allowed SL Green Realty Corp. to be removed as property manager of 245 Park Ave. in midtown Manhattan. The 1.8 million-square-foot building is owned by HNA Group of China's PWM Property ...
2 Midtown Manhattan Hotels Reopening
Crain's New York Business The New York Hilton and Grand Hyatt hotels in midtown Manhattan plan on reopening in the next few weeks after being closed since the start of coronavirus pandemic in March 2020. The 1,878-room Hilton, at 1335 ...
Apollo Takes Control of Mayflower Hotel in Washington, D.C.
Commercial Real Estate Direct Staff Report Apollo Commercial Real Estate Finance Inc. has taken control of the 581-room Mayflower Hotel in Washington, D.C., against which it had provided a $20 million junior mezzanine loan in 2015. The property had been owned ...
Manhattan’s Plaza Hotel to Reopen Next Month
Crain's New York Business The 282-room Plaza Hotel in Manhattan is scheduled to reopen on May 20. The property, at 768 Fifth Ave., has been temporarily closed since last March as a result of the coronavirus pandemic. Katara Hospitality, an affiliate ...
Manhattan’s Flatiron Hotel to Reopen in April
The Real Deal The 64-room Flatiron Hotel in Manhattan is set to reopen next month. The property, at 9 West 26th St., has been temporarily closed since last March as a result of the coronavirus pandemic. Premier Equities owns the ...
Mack Real Estate Takes Control of 1,087-Room Hotel Portfolio in Manhattan
The lender, which had provided $85 million of mezzanine debt against the equity in the seven select-service hotels, has taken over the properties. They previously were owned by a venture of Hersha Hospitality Trust and Cindat Capital Management. The properties ...
Brookfield Turns Cincinnati-Area Mall Over to CMBS Lender
Atlanta Business Chronicle Brookfield Properties has turned over the Florence Mall in suburban Cincinnati to its lender. A total of 384,111 square feet at the 957,000-sf retail property serves as collateral for a $90 million loan that's securitized through Wells ...
Manhattan’s Novotel New York Times Square Hotel Permanently Closes
Commercial Observer The 480-room Novotel New York Times Square hotel in Manhattan has permanently closed. Millennium & Copthorne owns the property, which it had bought in 2014 for $273.6 million. The hotel, at 226 West 52nd St., sits between Eighth Avenue ...
Preferred Apartment Pays $135.7Mln for 2 Florida Properties
Preferred Apartment Communities Inc. has paid $135.7 million for two multifamily properties with a combined 613 units in Florida. The Atlanta REIT bought the properties, the Menlo in Jacksonville and the Blake in Winter Springs, from their developer, Catalyst Development ...
Trade Group Sees Quarter of NYC’s Hotels Closing Permanently in Next Year
The coronavirus pandemic could result in roughly a quarter of New York City's hotels closing permanently within the coming year, according to the Hotel Association of New York City. The trade group estimates that so far the pandemic has resulted ...
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