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Midtown East has undergone a period of changes since its rezoning in 2017. The change that is happening has spiked real estate values, for instance, 242 East 58th St. in the Midtown East submarket has recently changed hands, selling for $11.5 million, $500,000 higher than the original asking price.
Benenson Capital Partners and Mack Real Estate have secured an $81 million refinancing for the construction loan on 433 East 13th St. in the East Village, a mixed-use property dubbed the "Eve".
Employers are rightfully concerned about the health, safety and welfare of their employees in light of the global spread of coronavirus disease (COVID-19.)
Colliers reports that the new owner has reconceived the vacant box as a mix of large floor plate opportunities, new exterior facing small retail and/or restaurant tenants along with several new outparcels offering the potential to court statement restaurant operators to the mall complex.
A creditworthy tenant with a certain degree of correction-resistance in its marketing strategy is a fairly sure bet to hedge against the vagaries of the greater market.