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The purchase provides new owner Glenstar with a boutique hospitality-inspired repositioning opportunity wherein the firm has planned a multi-million dollar investment campaign that will transform the building.
Due to the price point that the seller was targeting, the ability to get traditional financing was nearly impossible because of the lack of Day 1 cash flow.
Predictive analytics has become as necessary as a cup of coffee in the morning for CRE professionals, says Neelika Choudhury, senior vice president of product strategy at Ten-X Commercial.
Safehold Inc. is upping its market share in the New York City arena. The firm has just closed a $235 million ground lease at 135 West 50th St. Another transaction to add to its books before year-end.
Astrobotic's new headquarters is poised to become the epicenter for America's return to the Moon and will be the primary hub for lunar logistics in the United States, the company reports.