New York

Mount Sinai Inks 75,000 SF Lease in Downtown Brooklyn

NEW YORK CITY-In partnership with WESTMED Practice Partners, Mount Sinai Medical Center will construct an outpatient medical office at One Pierrpont plaza within Forest City Ratner’s MetroTech complex.

JV Buys 660-Unit Haven from Foreclosure

TEMPE, AZ-Interwest Capital and Angelo, Gordon & Co. pay $46 million to servicer Petra Capital Management. The new owners plan upgrades to the tune of $5,000 per unit.

47 Years Later, Lower East Side Revamp Moves Forward

NEW YORK CITY-In 1965, a plan to redevelop the Seward Park Urban Renewal Site was put forth. Now public review has begun for a project that could mean 1.65 million square feet of mixed-use space.

Tiffany’s Lowers Earnings Outlook for Year

NEW YORK CITY-The jewelry retailer’s global forecast for the year ending Jan. 31, 2013 is dimmed by a flat quarter closest to home, including declines at its flagship Manhattan store.

Ciminelli Plans for New Medical Office Building in Amherst

BUFFALO-Ciminelli Real Estate Corp. is planning to construct a new medical office building along Park Club Lane in Amherst.

New Project Proposed on University at Buffalo's Amherst Campus

BUFFALO-A 102-room Staybridge Inn will be part of a $15-million mixed-use project proposed on the Amherst campus of the University at Buffalo.

SPECIAL REPORT
C-Suite Moves Signal Need for Bigger Brokerage Platforms

NEW YORK CITY-Industry sources tell GlobeSt.com’s Jacqueline Hlavenka that the latest executive changes are a sign that the brokerage industry is beefing up its offerings beyond leasing and sales.

Tory Burch Takes 80,000 SF at 350 Hudson St.

NEW YORK CITY-The international fashion brand is expanding its footprint to the trendy Hudson Square area, but the company will also maintain its other corporate office on West 19th Street in the Flatiron District, a spokeswoman for Trinity Real Estate confirms.

HSBC, Edge Fund Go Downtown with Tower Buy

NEW YORK CITY-The reported purchase price is more than double what Harbor Group International paid for 4 New York Plaza, formerly owned by J.P. Morgan Chase, in January 2010.

Alex Hotel, Flatotel Owners File for Chapter 11 Protection

NEW YORK CITY-The action comes after the debtors reported operating losses from “decreased room revenue, significant liquidity constraints, considerable debt burden and unprecedented adverse changes in the economy and hospitality industry”, court documents show.

UPDATE
East Side Access Project Balloons to $8.24B

NEW YORK CITY-MTA officials said at a meeting last night that the massive LIRR expansion to Grand Central will take an extra three years—and almost $1 billion more.

Blackstone Checks In at Motel 6 With $1.9B Buy

NEW YORK CITY-The private equity giant says it plans to accelerate the growth of the budget lodging chain’s franchise, which currently numbers 1,102 properties in the US and Canada.

Dutch Outfit Signs Lease at 29 Prince Street

NEW YORK CITY-SuperTrash has leased 2,000 square feet at 29 Prince St. from Prince Street Associates.

Superfly to Move into Bigger HQ in Flatiron District

NEW YORK CITY-Superfly Presents is relocating its headquarters from 64 W. Third St. at LaGuardia Place to 25 E. 21st St. in the Flatiron district.

Bellmarc Inks 10-Year Lease at 1178 Lexington Ave.

NEW YORK CITY-Bellmarc Realty is relocating from Madison Avenue to a ground-floor retail space on Lexington Avenue.

AIP Leases Full Floor at 330 Madison Ave.

NEW YORK CITY-AIP, known as American Industrial Partners, has signed a 10-year deal for approximately 9,800 square feet of space at 330 Madison Ave.

Enterprise Launches New Green Retrofit Program for Affordable Housing

NEW YORK CITY-Bomee Jung, senior program director of Enterprise’s green program, tells GlobeSt.com’s Jacqueline Hlavenka about how the organization is helping to transform low-income properties into high-performance buildings.

Google Gives 22,000 SF to Cornell

NEW YORK CITY-The company has donated classroom and office space to the school at its West Side headquarters as a temporary location until its new campus opens on Roosevelt Island, city officials announced Monday.

MTA Markets Massive Restaurant Spaces at Grand Central Terminal

NEW YORK CITY-The transportation agency will release a request for proposals later this month for the west side of Vanderblit Hall and an underdeveloped area above Grand Central Market.

BREAKING NEWS
Barclays Puts BlackRock Stake on the Sales Block

NEW YORK CITY-In connection with the offering, BlackRock has agreed to repurchase up to $1 billion of its stock from Barclays.

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LAST WEEK'S POLL

Penner, Mirante, D'Arcy . . . High-Level Resignations Mean . . .

GlobeSt.com Viewers See More C-Suite Turnover
NEW YORK CITY-Nearly two-thirds of respondents to a GlobeSt.com poll said recent high-level resignations either portend more to come or prove that the industry needs to work on succession planning.

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Events

Register now for RealShare ORANGE COUNTY 2012--the leading real estate networking conference for the local commercial real estate market!
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RealShare STUDENT HOUSING


We've gathered 50 of the biggest players in the Student Housing community to discuss the latest trends of the industry: everything from marketing and leasing to what industry leaders have to say to debt and equity to investment sales opportunities.
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Charging the Hill: Commercial Real Estate and the 2012 Congressional Agenda

December 07
November 23, 2011
Critical issues impacting commercial real estate are coming up on the 2012 Congressional calendar, and their outcome collectively will impact all practitioners in this space. Top executives who know their way around Capitol Hill will share their thoughts on the direction this industry could take at the hands of our elected officials.

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User's Choice

Dalian Wanda Takes AMC Theaters for $2.6B

BEIJING-Dalian Wanda’s buy of Kansas City, MO-based AMC creates the world’s largest theater chain, with 432 locations in North America and China.

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