News

Cresset Partners and Diversified Real Estate Capital has closed its first Opportunity Zone fund at $465 million and launched its second fund with a $750 million target.

Mount Sinai Hospital is expanding its lease square footage at 207 East 94th St., a 50,000-square-foot building on the Upper East Side. Hirschfeld Properties owns the 50,000-square-foot building with asking rents of $55 per square foot.

The deal for 302 West Third marks Time Equities' third acquisition in the Tri-State Region over the last two years. Other notable regional acquisitions include Brookside Industrial Park in Indianapolis and the Arbor at Montana Apartments in Cincinnati.

More than 35 responses to the RFQ were received in December 2019. The development opportunity marks the only time since 2004 that PIDC has offered exclusive development rights and the first time that mixed-use multifamily development will be allowed at the Navy Yard.

MacKay joined Cushman & Wakefield's board of directors in 2018. She was most recently a senior advisor to iStar, a New York City-based investment REIT that finances, invests in and develops real estate and real estate related projects.

The restructuring program includes a reorganization and simplification of its field operations, significant reduction in management positions across the business and outsourcing of several functions.

The Port of New York and New Jersey handled 617,024 TEUs (20-foot equivalent units) in January 2020, the second busiest January on record.

Turnbridge Equities, a national real estate development and management firm, has unveiled plans for a 1.2-million-square-foot last-mile distribution center in the South Bronx located at 980 East 149th St.