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ATLANTIC CITY, NJ—This gaming resort oceanfront city that has been battered by natural and economic storms got a little bit of heartening news yesterday when Atlantic City Mayor Don Guardian revealed there are six interested buyers for the troubled Revel Casino Hotel.
NEW YORK CITY—SL Green Realty Corp. reports it has reached separate agreements to sell 2 Herald Square and 180 Broadway, and has closed on the sale of the development properties at 985-987 Third Ave. The three transactions will generate net cash proceeds to the REIT of $240 million.
WASHINGTON, DC—Joined by a host of dignitaries including DC Mayor Vincent Gray, Donald and daughter Ivanka Trump officially began construction on Wednesday on the redevelopment of the Old Post Office Pavilion into a new $200-million hotel.
PINE HILL, NJ—The 484-unit Chalet Gardens apartment complex here has sold for more than $26 million in a deal arranged by brokerage firm Gebroe-Hammer Associates.
PHILADELPHIA, PA—Locally-based private equity real estate fund management firm Equus Capital Partners, Ltd reports its operating affiliates executed 773,746 square feet of new and renewal leases in the second quarter of 2014.
ELMWOOD PARK, NJ—Packing firm Sealed Air Corp. announced on Wednesday its plans to relocate its goal headquarters from here to a modern, state-of-the art, environmentally-sustainable campus that will become the headquarters for its divisions, research & development facilities, and corporate offices.
STAMFORD, CT—There was some great news in the office market in Fairfield County in the second quarter, which was negated somewhat by some bad news. The office market saw a number of significant lease transactions, but also suffered a number of large space givebacks by area corporations.
COLUMBIA, SC—The historic Clarion Hotel Downtown will be expanded and rebranded. Hilton Worldwide reports that in 2016 the hotel will fly two flags as a Hilton Garden Inn and a Home2 Suites facility.
NEW YORK CITY—While still at elevated levels, New York City real estate brokers' confidence took a hit in the second quarter due to fears of rising land prices and uneasiness over whether the city's tech industry is facing a slowdown.