New York
CushWake Team Closes Sale of Six Metro Portfolio Properties
Cushman & Wakefield has finalized the sale of six multifamily properties in Midtown and Downtown Manhattan, dubbed The Metro Portfolio, for a… Read more
Target Backfills JCPenney Space at Kings Plaza
Macerich has signed Target as a new tenant to Kings Plaza in Brooklyn. The three-level, 90,000 square-foot Target will open in… Read more
CenterPoint Adds “Sought-After” Jersey City Cold Storage
CenterPoint Properties has acquired a 49,500-square-foot cold storage facility at 200 Polar Way in Jersey City. The building, leased long-term… Read more
Harrison Street, 1547 Acquire Four Data Centers from CIM
Data center owner/operator fifteenfortyseven Critical Systems Realty, LLC and Harrison Street have acquired four strategically located data centers, including two in Chicago and one each in Orangeburg,… Read more
Brooklyn’s First Supertall Tower Tops Out at 1,066 Feet
JDS Development Group and SHoP Architects have topped out construction on The Brooklyn Tower at 9 DeKalb Ave. in Brooklyn. At 1,066 feet in height, the 93-story… Read more
Industry Groups Applaud Proposal for Backstop on Pandemic Risk Coverage
The Real Estate Roundtable and, on a more local level, the Real Estate Board of New York (REBNY), gave a thumbs-up to… Read more
Microsoft Leases Five Floors at Flatiron District Offices
Microsoft Corp. signed a long-term lease for approximately 150,000 square feet at Bromley Companies’ 122 Fifth Ave. in the Flatiron district. The five-floor lease was made… Read more
JLL Team Markets Turnkey Apartments on Upper West Side
JLL Capital Markets is marketing for sale 203 W. 80th St. on Manhattan’s Upper West Side. The seller of the 10-unit, fully… Read more
Qira Hires Veteran of Yardi and MasterCard as VP of Sales
Qira, a financial services platform created by the merger of Rentigo and HelloRented, hired Michelle Shapiro as VP of sales. Shapiro was formerly the regional director of multifamily sales at Yardi and director… Read more
NOYACK Capital Launches Logistics UPREIT
NOYACK Capital, based in Southampton, NY, has launched Noyack Logistics Income REIT (NLI), an UPREIT targeting logistics-relevant commercial real estate ownership. NLI will target four key… Read more
Group RMC Sets Deals for Four Downers Grove Office Properties
New York-based Group RMC is finalizing contracts to buy four Downers Grove, IL office properties for a total of nearly $100… Read more
Owner of 245 Park in NYC, 181 W. Madison in Chicago Files for Chapter 11
PWM Property Management, an HNA Group venture that owns 245 Park Ave. in Midtown Manhattan and 181 W. Madison St. in Chicago, said Monday it had… Read more
Rock Group Formally Opens Its First Manhattan Residential Tower
With the illumination of decorative lighting atop the 45-story project, Rockefeller Group has formally opened Rose Hill, its first residential tower in Manhattan. Located at 30 E.… Read more
Renovated Fifth Avenue Tower Near Grand Central Comes to Market
Nuveen Real Estate has listed the circa-1925 office tower at 475 Fifth Ave. for sale. Crain’s New York Business reported the listing will… Read more
New Development Unit Contracts Rise 94% Y-O-Y in Brooklyn
There were 223 contracts totaling $370 million signed for new development sponsor units in Brooklyn in the third quarter, up 94% year-over-year and down… Read more
Arden Group, Spitzer Enterprises Partner to Develop Jersey City Rentals
Arden Group, through one of its private fund vehicles focused on Opportunity Zone development, will partner with Spitzer Enterprises to construct a… Read more
NYC Comptroller Sees Robust Economic Growth, But Not Full Recovery Yet
New York City Comptroller Scott Stringer’s annual fiscal report shows that the city’s economy grew robustly through much of the… Read more
The Greening of Lease Terms
As new-construction commercial properties—and retrofitted older ones—veer toward sustainability and the goal of net zero carbon emissions, the use of these properties is also headed in that… Read more
Billion-Dollar Disasters Spur Mitigation Funding
The announcement this week that the de Blasio administration would allocate $110 million to addressing sea-level rise and storm surge that together pose a threat… Read more