NEW YORK CITY-The quarter-point uptick in short-term interest rates to 1.25% will result in a higher cost of financing for short-term borrowers and floating rate borrowers that are tied to Libor, according to Cushman & Wakefield's Gary Gabriel.

NEW YORK CITY-As a result of the 18-year lease, Mitsubishi International Corp. becomes the largest tenant at 655 Third Avenue. MIC will also have the option to rename the building.

NEW YORK CITY-Three city streets take the top spots among the 10 most expensive shopping streets in the country, according to Faith Hope Consolo, vice chairman of Garrick-Aug Worldwide, Ltd.

NEW YORK CITY-In the largest single multifamily property refinancing in Ginnie Mae's history, the owners of Manhattan Park Apartments take advantage of market conditions with the refinancing move orchestrated by American Property Financing.

NEW YORK CITY-With the high price of multifamily living in the city, and the focus on low-income housing, middle-income residents may be getting shut out of the housing market, according to a panel of insiders at the Buildings New York show.

FLORHAM PARK, NJ-Charles F. McClafferty comes to the locally based real estate organization after a 33-year career with the Port Authority of New York & New Jersey, the last nine of which he served as chief financial officer.

NEW YORK CITY-Since October 2001, 20 companies have been added to the S&P 500, S&P MidCap 400 and S&P SmallCap with Entertainment Properties Trust becoming the most recent addition on June 3.

TAMPA-The deal involving the 130,000-sf office building is also the first large sale for the REIT. It trades hands for approximately $31 million.