Blumenfeld Development Group

News about Blumenfeld Development Group, including commentary and archival articles published in our Articles.
  • June 2019 New York New Developments
  • Major Developments: The City Council approved the new headquarters for JPMorgan, the first project to take advantage of New York’s Midtown East rezoning. JPMorgan will stay and rebuild its global headquarters at 1,400 feet and 70 stories tall, and will allow the company to consolidate employees who now work out of multiple different locations. The Port Authority of New York and New Jersey is moving ahead with plans to replace the bus terminal. The agency is moving forward with the formal environmental review process and released a document for public review. Blumenfeld Development Group has received a $235 million refinancing …

  • October 2016 New York New Developments
  • Major Developments:The Related Companies is planning a 63-unit mixed-use building at 501 West 18th Street in Chelsea. The 10-story building will contain 97,800 square feet of residential space, along with 10,300 square feet of commercial space that will be divided across two retail units on the ground floor. Related bought the pair of parking lots which are adjacent to the IAC building in 2014 from investors Barry Haskell and Matthew Resnicoff. The $205 million price or $700 per square foot set a record for the neighborhood. The developer secured $125 million in financing for the purchase. Tishman Speyer filed plans …

  • August 2016 New York Buildings For Sale
  • Buildings For Sale: The Blackstone Group is shopping its 665,000-square-foot office tower at 1065 Sixth Avenue and hopes to get as much as $700 million. ABC Carpet & Home is shopping around its property at 880-888 Broadway, an office-and-retail condominium that could get upwards of $200 million, or over $2,600 per square foot. ABC has owned and fully occupied the six-story, 76,400-square-foot building since 1981. The property has a 20,600-square-foot retail condo and a 55,800-square-foot condo for office and manufacturing space. It is still not clear if ABC Carpet would vacate upon selling the building or make a sale-leaseback agreement. …

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