Their Name Is Rio and They’ve Surpassed Us as the Hemisphere’s Priciest...
Not only did we just fall behind D.C. in commercial real estate pricing recovery, but now we're behind Rio as the second most expensive office market in the Americas. An annual report, released by...
View ArticleMore Second Best: New York to Finish Behind San Fran in Office-Rent Growth
According to CB Richard Ellis, New York is projected to have the country's second highest office rent growth in 2011, behind San Francisco. CBRE noted that office rents were expected to grow for the...
View ArticleIs Affordable Housing Gentrifying Brooklyn?
Is the city's public-private affordable housing model—the Community Preservation Corp., a group of 70 banks and insurance companies, in particular—expediting Brooklyn's gentrification? The Gotham...
View ArticleNBC Inks Massive Deal at Rock Center
In their first move since being acquired by Kableto--er--Comcast, NBC Universal just inked a 10-year deal for over 1.4 million square feet of office condos at Rockefeller Center, with over 700,000...
View ArticleNYSE Sells Former Rival’s HQ; Condo Tower Planned
Star investor and philanthropist Michael Steinhardt and an unnamed partner have acquired rom the New York Stock Exchange two former American Stock Exchange buildings, 18-22 Thames Street and 78-86...
View ArticleDevelopers of Cooper Square Hotel Check Out
One of the city's more... interesting... structures, the Cooper Square Hotel in the East Village is now property of Westport Capital Partners, a firm specializing in "opportunistic and distressed real...
View ArticleNew York Architects Pat Selves on the Back, Hand Out Awards
Last week the American Institute of Architects New York chapter handed out their annual design awards. Thirty-eight projects—all with some New York connection—were selected as winners and given "honor"...
View ArticleLitigious MoFo Saves Mort Zuckerman’s Baby
Morrison & Foerster, the San Francisco-based law firm with the off-kilter nickname, has signed a letter of intent for 200,000 square feet at 250 West 55th Street, the office tower started by Mort...
View ArticleiStar Gets the Credit It Needs
Commercial real estate lender iStar Financial, which during the recession questioned it's own ability to carry on without any new lines of credit, has finally got the cash it needs, as reported by...
View ArticleJones Lang LaSalle Fills Out Bracket, Already Screwed
Much like The Observer, who had Pitt winning the national championship, Jones Lang LaSalle has already lost their NCAA tournament pool. Using their "proprietary predictive model," a.k.a. office vacancy...
View ArticleVornado, SL Green to Hold Serious Debt on Troubled 280 Park
Vornado and SL Green, two of New York's biggest REITs, have agreed to buy $400 million in debt from Broadway Partners and Investcorp on the 1.2 million-square-foot complex at 280 Park Avenue. Broadway...
View ArticleWall Street Is Over If You Want It …
... as the center of the financial world anyway. At least that's what Bloomberg reasons, citing declining rents and the flight of financial firms to other parts of the city as the signal that Wall...
View ArticleTallest Building in Town Adds Bike Racks 2.0
Today the World's Most Famous Office Building announced the completion of the installation of bike racks as part of its ongoing sustainability initiative. The only thing, though, is the "bike racks"...
View ArticleEverything You Need to Know About Israeli Investment Right Now
Ever since the founding of the state of Israel, citizens of this tiny nation have made small financial investments in commercial real estate in the United States. Fifty years ago, these investors might...
View ArticleMadonna’s Would-Be Kabbalah Castle Sees New Life
The Lower East Side's 179 Ludlow Street is, finally, after years of bankruptcy and flirtations with kabbalah, getting cleaned up, and is on its way to becoming a rental, the Post reports. The man...
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