New York

News

Bye Bye, Big Apple: Hello, Sunshine

David Wilkening | September 18, 2018

Growing numbers of even long-time New York City-based companies are joining this one to find similar equally attractive conditions in South Florida (and better weather too).

News

California Investor Acquires Stamford Multifamily

John Jordan | September 18, 2018

A joint venture of Norwalk, CT-based Fuller Development and Spinnaker Real Estate Partners sold the 183-unit market rate apartment property to Friedkin, according to brokerage firm CBRE.

News

Sexual Harassment Lawsuit Against Cedar Realty CEO Dismissed

Betsy Kim | September 18, 2018

A New York State Supreme Court judge ruled the claims should be decided through arbitration.

News

Duff & Phelps Leases 91,000 SF at Park Ave. Plaza

Betsy Kim | September 17, 2018

The global valuation and corporate finance consultant goes from subletter to tenant expanding by almost 30,000 square feet at the Plaza District tower.

News

Investment Firm, School Lease 30,000 SF at 7 Bryant Park

John Jordan | September 17, 2018

Orion Resource Partners, an alternative investment management firm, will relocate to 7 Bryant Park from 1211 Ave. of the Americas and will occupy the entire 25th floor of the building, totaling14,143 square feet.

News

Investcorp Acquires US Warehouse Portfolio for $300M

Erika Morphy | September 17, 2018

At 56 assets, this is the company’s largest US warehouse portfolio deal to date.

News

3 LaSalle Hotels Are Under Contract For $715M

Erika Morphy | September 17, 2018

More sales are to come: Pebblebrook plans to sell between $500 million to $1 billion of hotels after the merger is complete.

News

Daniel Tishman Heads List of REBNY Award Winners

John Jordan | September 17, 2018

Tishman was selected as this year’s Helmsley award honoree, which is presented to an industry member for “their invaluable contributions to New York’s civic welfare and the real estate community.”

News

After 123 Years, Henri Bendel Is Closing in January

Betsy Kim | September 17, 2018

L Brands announced that all 23 Henri Bendel stores across the country including the flagship location at 712 Fifth Ave. in New York City will be closing.

Jeff Fishman on Boosting Capital Markets at Newmark RKF

Betsy Kim | September 15, 2018

With the Newmark Group's RKF acquisition, the vice chairman discusses his work at the new shop.

News

Law Firm Renews 53,000 SF Lease at Silverstein’s 120 Broadway

John Jordan | September 14, 2018

The law firm, which was founded in 1805, has been a tenant at the property owned by Silverstein Properties since 1991.

News

Columbia and Normandy to Develop Office Building at 799 Broadway

Betsy Kim | September 14, 2018

The historic St. Denis hotel will be demolished for ground-up construction, showing how certain developments can face community preservationists' resistance.

News

Convene Leases Its Largest Space To Date at 530 Fifth Ave.

Betsy Kim | September 13, 2018

The lease is among multiple recent deals with various companies showing strong interest in the flexible workspace sector.

News

City’s Residential Market Shows Continuing Signs of Softening

John Jordan | September 13, 2018

In its report on the three boroughs for the month of August, the brokerage firm says that concessions remain a key part of leasing strategy in Manhattan and Brooklyn and to a lesser degree in Queens.

News

Wharton Residential Profits from Nashville Area Multifamily Sale

John Jordan | September 13, 2018

The seller, a Wharton equity company, acquired the property in early 2017 in an off-market transaction from the original developer and thereafter undertook significant renovations at the property that produced dividends.

News

Vista Realty Trades Georgia Multifamily for $49M

John Jordan | September 13, 2018

The recently completed property was acquired by Hudson Capital Properties, a New York-based company headed by the family that runs Hudson Media, the leading magazine distributor in the Northeastern U.S., as well as the nation's largest airport news and concessionaire.

News

Health Quest, Marist College to Build New Medical School

John Jordan | September 13, 2018

The projected construction cost of the project is $75 million. The operating costs of the facility for the first 10 years (2019-2029) is estimated at $184.8 million.

News

Flexible Workspace Comes to the Chrysler Building

Betsy Kim | September 13, 2018

Spaces has leased 110,989 square feet at Tishman Speyer’s iconic New York office tower.

News

Garment District Getting Sportier as Squash Center Moves In

Betsy Kim | September 12, 2018

The not-for-profit club signed a 15-year lease at Thor Equities’ historic building near Bryant Park.

News

Regeneron to Spent $800M in Upstate NY Expansion

John Jordan | September 12, 2018

The $800-million will be spent over the next seven years to expand its laboratory space, manufacturing capacity and warehouse facilities at the company's Rensselaer County campus.

News

New JPMorgan Chase Fund to Invest $500M in 30 US Cities

John Jordan | September 12, 2018

JPMorgan Chase issued a request for proposals today for cities to apply for possible funding that closes on Nov. 30, 2018. Winners will be announced in the spring of 2019.

Event Coverage

John Catsimatidis Previews His AREAA New York Presentation

Betsy Kim | September 12, 2018

The Red Apple Group CEO says he would never live in the suburbs, even if given a house for free and paid to live there, and he tells GlobeSt.com why.

News

Gosin, Futterman Call RKF Deal Transformative, Despite Reported Troubles

John Jordan | September 11, 2018

Gosin stresses to Globest.com that all the RKF brokers the company had hoped would stay on, did in fact join the now merged Newmark RKF.

News

Ankura Consulting Expands at 485 Lexington Ave.

Betsy Kim | September 11, 2018

The management consulting and expert services firm has extended its footprint in the SL Green building to 60,000 square feet.

News

Mitchell Rudin Replacing Michael Colacino as Savills Studley President

Betsy Kim | September 11, 2018

Colacino plans to start a proptech software company.

News

Investcorp Acquires Office Campus in Germany for Nearly $100M

John Jordan | September 11, 2018

Investcorp, which is headquartered in Bahrain and has offices in New York City, says the deal involves the firm’s second real estate investment in Germany.

News

World Trade Center Remembers 9/11 with the Way of Light

Betsy Kim | September 11, 2018

Today at 10:28 AM, the skylight in the Oculus opens to honor and remember the people whom the world, the country and New York City lost on September 11.

News

Vera Institute of Justice Relocates to Brooklyn’s Industry City

Betsy Kim | September 10, 2018

The criminal justice reform non-profit is leasing 35,000 square feet at the Sunset Park Campus.

News

CBRE Global, Madison Partner on $1B Deal for Housing in Spain

John Jordan | September 10, 2018

The portfolio consists of 65 primarily mid-market apartment block buildings of which approximately 70% are located in and around Madrid.

News

Blue School Expands Lower Manhattan Campus by 45,000 SF

John Jordan | September 10, 2018

The expansion space is located a few blocks from the school’s longtime home at 241 Water St. which has been reconfigured to serve the school’s pre-primary program through third grade students.

News

Robert Knakal Joins JLL

Betsy Kim | September 10, 2018

The co-founder of Massey & Knakal, who parted with Cushman & Wakefield in June, began at JLL Monday, September 10.

News

MCR Flips Iconic Downtown St. Louis Hotel

John Jordan | September 10, 2018

MCR purchased the hotel in December 2016 from Xenia Hotels & Resorts.

News

Puma and Gwynnie Bee Sign Leases at Five Penn Plaza

Betsy Kim | September 07, 2018

The new tenants will occupy space totaling 60,000 square feet at Haymes Investment Co.’s Midtown South property.

News

Related Invests in Expanding 5G Wireless Broadband Firm

John Jordan | September 07, 2018

Starry Internet is currently available at Related residential properties in Boston and Los Angeles and will expand to its New York City properties this fall.

News

Knotel Rents 19,563 SF at 250 Hudson St.

Betsy Kim | September 07, 2018

Jack Resnick & Sons inks a lease with the flexible and co-working space provider at Hudson Square.

News

WeWork Loses Bid for One WTC Office Lease

Betsy Kim | September 06, 2018

The Durst Organization and WeWork confirm with GlobeSt.com that their negotiations will not result in the coworking space provider’s leasing at One World Trade Center.

News

Brokers Fret Over Rising Interest Rates, Tariffs and Politics

John Jordan | September 06, 2018

REBNY says rising interest rates, tariffs, and concerns about the implications of tax reform—along with uncertainty surrounding an unstable political environment in the United States, were key factors in the decline in overall broker confidence.

News

Foulger-Pratt-Cerberus JV Acquires Former Discovery Communications HQ

John Jordan | September 06, 2018

The partnership between Potomac, MD-based Foulger-Pratt and Cerberus Capital Management of New York City purchased One Discovery Place from Discovery Communications.

News

AG Mortgage Trust Enters Single-Family Rental Market With $140M Deal

Erika Morphy | September 06, 2018

The REIT has acquired a 1,225-asset portfolio for $140 million.

News

Newmark Group Closes on RKF Retail Holdings Buy

John Jordan | September 06, 2018

The purchase of RKF, according to Robert K. Futterman, who will serve as chairman of Newmark RKF, Newmark’s retail leasing division, will bring Newmark Group “one step closer to creating a platform that will reshape and significantly impact the retail industry.”

Considering Developing Near A Transit Project?

Betsy Kim | September 06, 2018

Investing near proposed infrastructure like New York City's BQX always poses a gamble, says real estate attorney Andy Schmerzler.

News

Second Span of New Gov. Mario M. Cuomo Bridge to Open Saturday

John Jordan | September 05, 2018

TARRYTOWN—Trans-Hudson commuters may finally experience the full benefits of the new Tappan Zee Bridge, now known as the Governor Mario M. Cuomo…

News

APF Properties Acquires 183 Madison Ave.

Betsy Kim | September 05, 2018

The New York City-based real estate firm purchased the Midtown South building for $222.5 million.

News

Harbor International Group Sells Danbury Multifamily for Nearly $109M

John Jordan | September 05, 2018

Brokerage firm CBRE reported the sale of the 466-unit property at 50 Saw Mill Road that was built in two phases (2007 and 2011).

News

Crossing Delancey: Two LES Buildings Sell for $48.5 Million

Betsy Kim | September 05, 2018

Marx Realty’s purchase of Lower East Side buildings at 135 and 161 Bowery demonstrates a continued demand in the neighborhood by creative and tech industry tenants.

News

Massey Knakal Alum Thomas Donovan Joins B6 Leading Queens Operations

Betsy Kim | September 04, 2018

Donovan left Cushman & Wakefield where he was a vice chairman, investment sales, focusing on Queens.

News Research

REIT Equity Markets Recover from Historic Sell-Off in First Quarter

John Jordan | September 04, 2018

Kroll Bond Rating Agency says the REIT sector is finding its “mojo,” and REIT debt-to-market leverage reached record lows by mid-year 2018, declining to a median of 30.2% for public and private note issuers.

News

Lexington Realty Trust Recaps Office Portfolio With $726M Sale

Erika Morphy | September 04, 2018

The buyer is a JV between Davidson Kempner Capital Management LP and Lexington.

News

Strong Hotel Demand Exceeds Supply

Betsy Kim | September 04, 2018

A strong economy means a high occupancy rate for hotels through 2019 in the US and in New York, according to CBRE.

News

Real Estate Developer Michael D’Alessio Charged with Wire Fraud

Betsy Kim | August 31, 2018

The White Plains developer is accused of defrauding investors in luxury real estate development projects in Manhattan, the Hamptons and Westchester.