New York City
$1B 425 Park Ave. Tower Nears Completion
L&L Holding Company’s 425 Park Ave., the first full-block office tower to be completed along this stretch of Park Avenue in… Read more
Urbanspace Will Bring Food Hall to GFP’s 100 Pearl
Food hall and marketplace curator Urbanspace signed a 14,722-square-foot lease at 100 Pearl St. in Lower Manhattan’s Financial District. The lease marks… Read more
Paramount Completes $103M Sale of DC Office Property
New York City-based real estate investment trust Paramount Group has completed the $103 million sale of 1899 Pennsylvania Avenue, a… Read more
Cuomo Pushes for $51B Buildout of Midtown West
Gov. Andrew Cuomo mapped out a $51-billion buildout of Manhattan’s Midtown West in his annual State of the State message.… Read more
Oxford Capital Brings Café to Shops at LondonHouse
Oxford Capital Group, LLC completed its third lease signing of the past eight months, securing La Borra del Café, a Mexican-style… Read more
Pretium, Ares Close $2.4B Deal for Front Yard Residential
Pretium Partners LLC and funds managed by Ares Management completed their acquisition of Front Yard Residential Corp. The deal makes… Read more
NYC Program Aims to Connect Small Businesses to Federal Relief
The de Blasio administration on Wednesday launched Fair Share NYC, a targeted campaign to connect small business owners to federal… Read more
Sovereign Properties Secures $60M Construction Loan for Davenport MF Project
JLL has arranged a $60 million construction loan for Sovereign at Town Center, a luxury, garden-style community in Davenport, FLA.… Read more
Trader Joe’s Will Open First Harlem Store
The Prusik Group, BRP Companies, L+M Development Partners and Taconic Partners have signed a 28,000-square-foot lease with Trader Joe’s on… Read more
Katz & Associates Promotes Three Retail Brokers
Katz & Associates has promoted Holly Buchanan and Donny Moskovic to senior director and David Yablon to director. They’re based… Read more
Under-Construction Austin Apartments Change Hands
Newmark arranged the sale of The Monroe, a 223-unit new-build multifamily asset in Austin near the burgeoning East Riverside Corridor.… Read more
Life Time Muscles Ahead with Manhattan Expansion
Although COVID-19 has turned the fitness industry upside down in New York City, Life Time is forging ahead with plans to… Read more
State Comptroller: NYC Budget at Risk Without More Federal Aid
New York City’s budget faces risks of more than $2 billion annually through fiscal year 2024 without additional federal aid… Read more
Monmouth REIT Mulls Unsolicited Bid from Blackwells
Monmouth Real Estate Investment Corporation, based in Holmdel. NJ, said Monday it had received an unsolicited proposal from Blackwells Capital… Read more
New York City, State Lose $1.6B in Tax Revenue as Investment Sales Drop
New York City’s year-to-date investment and residential sales totaled $40.3 billion, representing a 49% year-over-year decline and leading to a 41%… Read more
“Raise Your Returns and Lower Your Risk”: Safehold’s Jay Sugarman on the Modern Ground Lease
By Paul Bubny In 2017, commercial real estate finance veteran Jay Sugarman launched Safehold, a publicly-traded REIT managed by iStar… Read more
Council Speaker Johnson Wants Revamp of NYC’s “Broken” Planning
Calling the city’s planning process “completely broken,” New York City Council Speaker Corey Johnson issued a report that proposes a… Read more
Pembrook Arranges Acquisition Debt for Shaker Heights Portfolio
New York City-based Pembrook Capital Management is providing a $17,764,288 loan for the acquisition and renovation of a value-add multifamily portfolio… Read more
Financial Advisor Commits to Midtown with Long-Term Lease
Independent financial advisory group WealthEdge, betting on the resurgence of New York City, signed a new lease for office space… Read more