Deka Immobilien

• March 2023 New York Buildings For Sale
• Buildings for Sale: Related Companies’ fund management arm and BentallGreenOak are ready to walk away from the Point LIC, a small campus of converted warehouses in Long Island City, that sit mostly vacant after six years. BrightSpire Capital is looking to sell the non-performing loans, and the borrowers have agreed to hand the keys to the Point over to whoever buys the debt through a deed-in-lieu of foreclosure. The mortgages on the two buildings total around $150 million. The two properties: a 130,000-square-foot former oil storage warehouse at 2100 49th Avenue, dubbed the Paragon Building, and a 220,000-square-foot building across …
  
  
• August 2021 New York New Developments
• Major Developments: Life science labs are being converted from offices. 20% of laboratory spaces being constructed are office conversions, but come with issues such as additional electricity and water, loading zones and specific interior spaces and some spaces require special ventilation. The warehouse boom is still going strong. From January through May, first-year base rents on industrial leases of a year or more rose by 9.7% year-over-year. Large warehouses have seen even sharper rent growth of 13.2% for leases of 500,000 square feet or more and 11.6% for those between 100,000 and 499,999. Nearly 100 million square feet of commercial …
  
  
• March 2021 New York New Developments
• New York New Developments New York’s moratorium on commercial evictions and foreclosures and a bill to replace it has hit a roadblock. The current ban from March 2020 moratorium on commercial evictions and foreclosures, which he has repeatedly extended. The latest extension, through a Jan. 23 executive order, prevents those actions from taking place until Feb. 22. But Cuomo has yet to take action on legislation that would make the ban semi-permanent. The state Senate proposed a bipartisan commission to review Cuomo’s orders, and Assembly Democrats have also called for the revocation of those powers. The rate of positive Covid …
  
  
• July 2017 New York Buildings For Sale
• New York Buildings Sold A two-story commercial building at the corner of East 149th Street and Cortland Avenue sold to Albert Babayev for $17.5 million. The 33,135-square-foot building at 356 West 149th Street is leased to a Rite Aid and located a block away from the Third Avenue and East 149th Street hub. New Empire Real Estate sold off a Hell’s Kitchen development site for $15 million to the Coram Deo Church. Zhao bought the vacant lot at 409 West 45th Street in 2014 for $5.3 million, and plans to build a seven-story boutique condominium building on the site. The …
  
  
• October 2016 New York Buildings For Sale
• Buildings For Sale Ashkenazy Acquisitions and Deka Immobilien put the New York Marriott East Side hotel on the market 17 months after buying it. The sellers are unlikely to get more than the $270 million they paid for the 525 Lexington Avenue property in 2015. The landmarked building spans 319,319 square feet and includes 655 hotel rooms and the 525LEX restaurant. Jona Rechnitz, the developer at the forefront of a probe into corruption at the New York Police Department, is looking to sell a Midtown development site for $26 million. JSR Capital bought the property at 238 Madison Avenue in …
  
  
• October 2010 New York Buildings For Sale
• New York City Buildings sold SL Green, the largest commercial office landlord in New York, agreed to sell 19 West 44th Street in Manhattan to Deka Immobilien for $123.2 million. SL Green will continue to manage and lease the building as part of the sale agreement with Deka. SL Green originally bought the 292,000-square-foot Class B property in 2004 for $67 million. Since the acquisition, SL Green has renovated the lobby, windows and heating and cooling systems, and raised occupancy to 99 percent, compared to 86 percent in 2004. SL Green Realty is expected to gain $66 million profit on …