Bldg Management

• December 2024 New York New Developments
• Major Developments: The City Council agreed to Mayor Adams’ signature housing policy after securing $5 billion in public funding and will now generate to 80,000 units over 15 years, the City of Yes for Housing Opportunity is now expected to add about 80,000 units beyond what would otherwise have been built. The zoning text amendment will go back to the City Planning Commission for review before it goes to a full City Council vote next month, but those are formalities in light of the agreement reached. City to supersize Midtown rezoning. Mayor Adams’ administration set its sights on Midtown South …
  
  
• August 2024 New York Buildings For Sale
• Buildings for Sale: The CMBS loan for 200 million at 500 Fifth Avenue, a 727,757-square-foot office property in Midtown, was moved to special servicing because of imminent maturity default. Meyer Chetrit’s 65 Broadway. The $151 million CMBS loan tied to the FiDi office building had landed in special servicing in February. Cash flow couldn’t cover loan payments, The American Express Building was reappraised at $104 million below the loan balance. Lexin Capital is selling a development site at 75 Nassau Street asking $75 million, either in an outright sale or through the sale of a partial stake. The site is …
  
  
• March 2017 New York Buildings For Sale
• New York Buildings for Sale: Three Riverside Boulevard parking garages encompassing more than 228,000 square feet and 995 parking spaces are asking $65 million, or $65,300 per space. The parking garages are at the base of five condominium buildings at 80, 100-120 and 220-240 Riverside Boulevard. Developer Steve Witkoff has a federal judge’s approval to sell the Park Lane Hotel as part of an agreement to oust Malaysian investor Jho Low. U.S. District Court Judge approved plans as part of a cooperation agreement reached after Low became entangled in a money-laundering scandal. The current plan is to sell the whole …
  
  
• November 2016 New York Buildings For Sale
• New York Buildings Sold: ABS Partners and Benenson Investment Company">ABS Partners and Benenson Investment Company paid $62.75 million for the office-and-retail building at 145-147 East 57th Street. The asking rent is $60 per square foot. The venture paid $17 million for 407 East 70th Street, a five-story medical building on the Upper East Side. ABS and Benenson 3 bought the fee at the AMC movie theater at 66 Third Avenue that has a ground lease through July 2037. Caspi Development and RWN Real Estate Partners bought a Tribeca art gallery for $19 million from a group of investors. The building …
  
  
• November 2015: New York New Developments
• New Developments Developer Bo Jin Zhu filed permit applications for a nine-story hotel and a 16-story apartment building at 412 West 126th Street and 402 West 126th Street. The two buildings together will contain a total of 129,000 square feet of space. UBS is looking for 700,000 and 900,000 square feet in Midtown for its New York headquarters. The company is being forced to move by its current landlord.The Columbus Avenue retail corridor on the Upper West Side has gone from zero vacancies in a 15-block stretch along Columbus Avenue to 14. The spike in retail vacancies is due to …
  
  
• February 2015: NYC New Developments
• Mitsui Fudosan started construction on 55 Hudson Yards. Its $1.4 billion office tower which is part of the 28-acre megaproject on Manhattan's West Side.Property Markets Group is planning to convert a four-story commercial building at 548 West 22nd Street into a 19-story residential development.Brookfield Office Properties said the total development cost for the first of its two Manhattan West office towers is more than $2 billion.A joint venture between Madison Equities, Building and Land Technology (BLT) and Joseph's Sitt Thor Equities received a $275 million construction loan to acquire and complete the gut renovation of 212 Fifth Avenue. BRP Corp. …
  
  
• January 2015: New York Buildings For Sale
• New York Buildings sold Jeff Sutton and General Growth Properties are buying the Crown Building at Fifth Avenue and 57th Street for $1.75 billion. The price works out to $4,490 per square foot, which sets a new world record for the price of an entire office building. The nearly 400,000-square-foot tower includes roughly 50,000 square feet of valuable retail space with retail tenants including: Bulgari , Mikimoto, Bank of America and Piaget. Broad Street Development purchased two Noho apartment buildings for a combined $178.5 million. The properties are located at 298 and 304 Mulberry Street. The buildings house 182 apartments, …
  
  
• December 2014 NYC Buildings purchased & For to purchase
• New York Buildings sold The developer who is turning Verizon's former downtown headquarters into luxury condominiums has bought the building's 40,000-square-foot retail space for $40 million.A Developer acquired a three-story Upper West Side commercial building located at 2307 Broadway for $25.9 million. The 9,900-square-foot property, between West 83rd and 84th streets, is home to a Duane Reade store on the ground floor. There are offices on the upper floors.A Financial services firm acquired a 16-story office building at 21 Penn Plaza in Midtown from Savanna and the Feil Organization for an undisclosed price.A Canadian property investor and Chicago-based Callahan Capital …
  
  
• May 2014 New York Buildings For Sale
• Buildings For Sale A West Side’s Hudson Yards development site, nearby parcel could sell more than $100 million. A nonprofit organization is selling a landmarked church for $50 million. The Federation of Protestant Welfare Agencies, the owner of the Church Missions House at 281 Park Avenue South, is looking to sell the century-old building to fund its services, including advocacy and management assistance for more than 200 churches and social-service groups. An affiliate of Walter & Samuels is looking to sell an Upper West Side parking garage site, which is being marketed as a potential redevelopment into condominiums. The 7,700-square-foot …
  
  
• March 2012 New York Buildings For Sale
• New York Buildings sold SL Green has closed on its acquisition of a 37-story, 390,000-square-foot Midtown office building at 10 East 53rd Street for $252.5 million, or about $647 per square foot, and has sold a 45 percent interest in the building to Canada Pension Plan Investment Board. Canada Pension Plan paid an equity investment of $57.4 million before closing costs.Silverstone Property Group, along with equity partner RWN Real Estate Partners, plan a $12 million repositioning of the Murray Hill apartment building they acquired for $53 million The 17-story, 128-unit building at 247 East 28th Street, was purchased from Samson …
  
  
• August 2011 New York Buildings For Sale
• NYC Buildings For Sale 397-401 East 8th Street a development site is on the market for $5.2 million, EV Grieve. Chang's McSam Hotel Group purchased the 4,324-square-foot vacant lot, at 397-401 East 8th Street, for $4.9 million site. Chang appears to be in the midst of a selling spree -- he recently unloaded stalled hotel project sites in the Financial District and in Union Square, as well as his new Holiday Inn Express at 126 Water Street. A month after merging with EBSCO Publishing, library reference publisher H.W. Wilson has decided to market its former headquarters and nearby land holdings …