News

A pair of mixed-use buildings in the Lenox Hill neighborhood of Manhattan's Upper East Side has changed hands. Located at 1364 and 1368 York Ave., the properties sold for $13.85 million. Jones Lang LaSalle represented the seller in the transaction.

Financing to the tune of $991.77 million was arranged for a 17-property portfolio totaling more than 7 million square feet across major US markets on behalf of CalSTRS and its advisor, PCCP.

Regulators have also granted banks more leeway to make short-term modifications on loans.

It originated the three-year, interest only loan from Freddie Mac.

"It's been a seller's market for years. Now we have a shock to the system."

Consistent with the governor's order last week, the city clarified that the following as life-sustaining businesses or services: laundromats, veterinary hospitals, pet stores, retail banks (allowing drive-through or limited lobby access), stores that primarily repair cell phones, and bicycle or motorcycle repair shops.