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“Our joint venture viewed this as an opportunity to acquire a vacant high-quality asset in 185 Tabor Road at an attractive basis well below replacement cost,” says Ryan Dodge, vice president with PCCP.
“This is a once-in-a-lifetime opportunity to purchase portside land with unparalleled maritime access in one of the world's most land constrained port markets,” says Cushman & Wakefield's David Bernhaut.
Varden Capital Partners repositioned the assets following a bulk purchase, and made healthy profits for investors while leaving a great value-add path ahead for Blue Rock, says Cushman & Wakefield's Tyler Averitt.
Mack-Cali is also partnering with ride-sharing service Uber to give tenants of 581 Main Street $10 toward rides to and from the complex during commuting hours.
A REBNY report blames Community Board 2 landmarking efforts and liquor license denials for the shuttered storefronts but elected and community leaders dispute this causation.
Theresa Morzello, CBRE's managing director for asset services in New York City, was the first woman to win the Commercial Management Executive of the Year Award.