Developers of Manhattan’s Moynihan Station Expect to Break Ground in 2008
New York SunVornado Realty Trust and Related Cos. expect to start construction in 2008 on their proposed Moynihan Station project in Manhattan. The project would relocate Madison Square Garden and build skyscrapers on the site. The towers could be...
Extell Sells Stake in Manhattan Building for $165Mln
New York ObserverExtell Development sold its stake in a Manhattan multifamily building at 301 West 53rd St. to Westbrook Partners for $165 million. Extell, in a venture with Westbrook, acquired the 25-story property at Eighth Avenue in 2005 for...
Kronos Pays $64.9Mln for 3,057-Room Hotel Portfolio
Kronos Hotels & Resorts has paid Lodgian Inc. $64.9 million for 16 hotels with 3,057 rooms.Kronos, which is headquartered in Atlanta, has agreed to buy one additional hotel from Lodgian, but declined to provide specific information about the property....
LaSalle Lends $265Mln for Former Monkey Ward Warehouse
LaSalle Bank has provided $265 million of senior debt for 600 West Chicago, the former Montgomery Ward catalog distribution facility in Chicago.The property, constructed in 1908 and redeveloped in 2001, was purchased recently for roughly $289 million by a...
Suburban Atlanta Office Park Sells for $18.1Mln
Crown West Realty has paid $18.1 million for Cobb Corporate Center, a 195,921-square-foot office/industrial park in the Atlanta suburb of Marietta, Ga.The Phoenix real estate firm is buying the complex from Brookwood Financial Partners of Beverly, Mass. Resource Real...
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