New York
Report: NYC Lags in Adding Higher-Wage Jobs, Housing Units
Although post-pandemic New York City employment exceeds pre-pandemic levels, the growth has been concentrated in lower-wage sectors, according to a… Read more
Safehold, Brookfield Enter Joint Venture on Ground Lease Portfolio
Ground lease REIT Safehold Inc. has formed a joint venture with a Brookfield affiliate on a portfolio of ground leases. Brookfield… Read more
Boutique Office and Retail Property Fetches $31M in Flatiron District
Atlantic Capital Partners closed the $31-million sale of 893 Broadway, a boutique office and retail building located in Manhattan’s Flatiron… Read more
Berkadia Secures $126M Refi on 99% Occupied New Rochelle Apartments
Berkadia secured a $126.407-million loan to refinance Two Clinton Park, a 28-story luxury apartment tower with 390 residences and 7,574 square… Read more
CMBS Special Servicing Rate Improves in May
The Trepp CMBS Special Servicing Rate decreased by 51 basis points in May to 10.86%. The improvement was driven primarily… Read more
Baker Tilly Acquires Anchin; Will Relocate Headquarters to NYC
Advisory, tax and assurance firm Baker Tilly has agreed to acquire Anchin, Block & Anchin LL, a leading New York-based… Read more
Hotel Investors Target Luxury, Upscale Leisure Properties
Hotel investors are concentrating capital in luxury and upscale leisure properties while new development remains difficult as financing costs remain… Read more
Vornado Brings Redeveloped PENN 2 to 90% Leased
Vornado Realty Trust announced that PENN 2, its reimagined office tower in the Penn District campus, is now 90% leased after… Read more
Marcus & Millichap Closes Deal for Bronx Industrial with Redevelopment Potential
Marcus & Millichap recently closed the sale of 935 Garrison Ave., an industrial property in the Bronx. The asset sold for $10,275,000. “This… Read more
South Street Partners Acquires Its First Tri-State Resort in Western NJ
South Street Partners, a private equity real estate investment firm headquartered in Charlotte, NC and Charleston, SC, acquired Crystal Springs… Read more
David Werner Closes on $270M Acquisition of One Dag Offices
Newmark has arranged the sale of One Dag Hammarskjöld Plaza, a 50-story Class A office tower located at 885 Second… Read more
Ameriprise Signs 10-Year Renewal for One World Trade Center Space
The Durst Organization and the Port Authority of New York and New Jersey announced that Ameriprise Financial, Inc. has renewed… Read more
BSD, KSR Recapitalize 370 Lexington Ave. for $138M
Broad Street Development (BSD) and KSR Capital completed the refinancing and recapitalization of 370 Lexington Avenue, a recently modernized 317,000-square-foot… Read more
Cirrus, Resorts World Acquire Jamaica Site for Workforce Housing
A partnership of Cirrus Real Estate Partners and Resorts World New York City has acquired a 1.8-acre development site and… Read more
Amtrak, USDOT Unveil Renderings for NY Penn Station Redevelopment
U.S. Department of Transportation Secretary Sean P. Duffy, Special Advisor to the Amtrak Board Andy Byford and Penn Transformation Partners… Read more
Walker & Dunlop, Pretium Close on $76M Bridge Loan for Chelsea Apartments
Walker & Dunlop, Inc. and Pretium said Monday they have closed a $75.7-million bridge loan with Walker & Dunlop Affordable Bridge Capital, the… Read more
Horvath & Tremblay Integrates B6 Real Estate Advisors, Expanding NYC Operations
Horvath & Tremblay, a Boston-based services firm specializing in investment real estate brokerage, 1031 exchanges, debt/equity placement, and appraisal &… Read more