Global Holdings

• October 2023 New York Buildings For Sale
• Buildings for Sale: US Masters Residential Property Fund is looking to sell its 479-property portfolio piecemeal of largely one- to four-unit properties for $858 million. Blackstone stopped making payments in March 2022 on the $308 million CMBS loan backing 1740 Broadway, a 26-story office tower a block from Carnegie Hall, and gave the keys to the lender. CWCapital was appointed and is now planning to sell the note for the 621,000 SF tower. Extell Development is now asking $195 million for the triplex down from $250 million. The price of the 17,500-square-foot triplex or $11,100 per square foot. A $240 …
  
  
• August 2023 New York Buildings For Sale
• Buildings for Sale: In the first quarter, investors spent less than $500 million buying Manhattan office properties, down from $5 billion in the first quarter of last year. Värde Partners aims to force the sale of Public Hotel. Steve Witkoff and Ian Schrager appeared to have gotten a handle on the debt at their Public Hotel after falling behind on their mortgage. Witkoff and Schrager are facing a UCC foreclosure on their equity in the 367-room hotel at 215 Chrystie Street. The partners owe more than $86 million in mezzanine debt from Värde Partners. The sale is scheduled for Sept. …
  
  
• July 2021 New York Commercial Real Estate Market Report
• Office: In the depth of the pandemic last year, a majority of New York City office tenants facing lease expirations did not want to commit to a long-term deal. Instead, they opted for shorter extensions. The number of short-term renewals, a deal shorter than five years, was up 46% in 2020 compared to the year before. Almost 20% of Manhattan office space is up for rent, up to about 80 million square feet of space either unrented or for sublet. About a third of commercial leases are to expire in the next three years. Only a fifth of workers are …
  
  
• November 2019 New York Commercial Real Estate Market Report
• Office leasing volume from the top 10 leases was 820,500 square feet. With half of them coming from WeWork, who will be out of the market for a while if at all. Other big tenants include law firms, branding agencies and Knotel. Manhattan Retail: Retail leasing for gyms and restaurants were among the largest deals. The top was Ikea’s first Queens location. Manhattan Sales: Manhattan investment sales hit a two-year low with $995 million in deals recorded, 52% down from June and 59% below the 12-month average. The borough’s largest deal was Savanna’s $180 million buy of 360 Lexington Avenue …
  
  
• April 2019 New York New Developments
• Major Developments: Gyms and athletic wear retailers once again dominated the retail leasing scene last month in New York City, securing four of the top 10 biggest deals. The rest mostly comprised of restaurants. The biggest retail lease deals signed last month totaled 188,100 square feet, down 41,600 square feet from January’s total of 229,700 square feet. In February of 2018, the top 10 retail leases totaled 108,200 square feet. Hermès of Paris inked a lease for 40,000 square feet of space at 706 Madison Avenue for a new flagship location. The building’s landlord is Friedland Properties. Brooklyn Boulders signed …
  
  
• December 2016 New York New Developments
• Major Developments: The city’s Human Resources Administration will renew its lease for 264,358 square feet at 109 East 16th Street and plans to spend more than $20 million on renovations. The proposed lease has a starting rent of $76.83 per square foot. As the market for land sales in Manhattan has cooled off amid a real estate slowdown, air rights trades have plummeted. The dollar volume spent on Manhattan air rights through the end of September totaled $70.69 million. That sum was down roughly 74% from the $269.78 million spent on deals that closed through the first nine months of …
  
  
• July 2016: New York Buildings For Sale
• New York Buildings sold Harry Macklowe and Qatari investment bank QInvest closed on a deal to buy 432 Park Avenue's retail space for $411.1 million. CIM Group is developing the 1,396-foot condo tower in partnership with Macklowe the seller. The cube will include 6,600 square feet of retail space and will be connected to 20,000 square feet of retail space in the tower itself through a 30,000-square-foot underground concourse. Global Holdings is in contract to buy 1250 Broadway, an office tower owned by Jamestown and Murray Hill Properties, for $565 million. 1250 Broadway is a 39-story, 721,000-square-foot tower. The contract …
  
  
• November 2011 New York Buildings For Sale
• New York Buildings sold Africa Israel USA sold the Clock Tower building at 5 Madison Avenue for $165 million.and close January 2012. The buyer has made a $5 million deposit -- $2 million of which is non-refundable. Savanna formed a partnership with the Feil Organization to purchase the office building 21 Penn Plaza for $137 million. Previously Savanna picked up nearby 31 Penn Plaza for $130 million. It's also acquired 100 Wall Street, 80 Broad Street, 386 Park Avenue South, 104 West 40th Street, 1375 Broadway and 5 Hanover Square through a $550 million real estate investment fund it closed …
  
  
• December 2007 New York Buildings For Sale
• NYC Buildings For SaleShorenstein Co. is reportedly negotiating to buy the Citigroup tower at 388 and 390 Greenwich Street. Citi will lease back part of the building for 15 years.Phillip Morris parent Altria Group is selling 120 Park Avenue, at the corner of 42nd Street, for $525 million to Global Holdings Inc. or $816/RSF.New York Buildings sold