NEW YORK CITY-A 10-investor consortium buys the 90%-occupied building, located at 175-200 Community Dr. in Great Neck, NY. A $1.5 million renovation, including a new facade and roof, is slated to begin this fall.

NEW YORK CITY-The Bank of New York's Technology and Operations center, located on the edge of the World Trade Center site at 101 Barclay St., officially opened yesterday, having completed extensive renovations after being damaged in the Sept. 11 attacks.

NEW YORK CITY-Manhattan has weathered the national real estate downturn this past year and stands to recover strongly as companies begin hiring again in 2003, according to the latest Grubb & Ellis report. A company spokesperson tells GlobeSt.com that a high pre-lease rate and diverse tenant base in the city will continue to ensure stability as the 5.5 million sf under construction comes online.

NEW YORK CITY-What effect will the World Trade Center redevelopment have on the downtown office market? Industry experts tell GlobeSt.com that developer Larry Silverstein will be in a strong position to undercut the Downtown market, unless federal subsidies reduce the discrepancy between rents he can charge and what others must ask.

NEW YORK CITY-Year-old investment partnership Miller Global Fund IV, an affiliate of Denver-based Miller Global Properties LLC, buys the 12-story, 174-room hotel from Dallas-based Olympus Real Estate. Miller Global president Jim Miller tells GlobeSt.com that now is a good time to buy into the hotel market in Manhattan.

NEW YORK CITY-The firm beefs up its suddenly depleted staff--recent defections include a quartet of brokers who left its San Diego office last week--with five new hires for its New York office.

NEW YORK CITY-Corporate spending for new space is soft as the economy struggles to break out of its extended slump, but PricewaterhouseCoopers' Peter Korpacz tells GlobeSt.com that the highly-competitive market now for top-tier properties should drive a full industry recovery as the national forecast brightens.

NEW YORK CITY-Clothing exporter International Trade Resources doubles its previous warehouse/distribution space with a 10-year lease at 360 Southern Blvd. in the Bronx. The former Farberware headquarters building was sold in 1997 to Gladiator Realty.