Maefield Development

• September 2023 New York New Developments
• Major Developments: Blackstone and Hudson Pacific Properties are joining with Vornado to build a new film studio on Manhattan’s West Side. Dubbed Sunset Pier 94 Studios, the project would be developed as a public-private partnership with New York City Economic Development Corp. The total investment from the three publicly traded firms will be about $350 million. The campus would span 266,000 SF with six soundstages. The development would feature a 1,850 SF amenity space, 25,000 SF of waterfront open space. Vornado has the long-term leasehold on Pier 94 and is providing the lease to the joint venture, in which it …
  
  
• December 2022 New York New Developments
• Major Developments: Silverstein Properties, BedRock Real Estate Partners and Kaufman Astoria Studios have come to terms with the City Council for approval of a controversial megadevelopment in Queens. The $2 billion Innovation QNS will bring about 3,200 apartments to Astoria, 45% of them affordable. The agreement calls for 1,436 affordable units including 500 for households earning 30% of the area median income and 157 for homeless people. Related Companies and Sterling Equities will develop a 25,000-seat soccer stadium for the New York City Football Club at Citi Field and is expected to arrive by 2027 for the NYCFC squad. The …
  
  
• May 2022 New York Buildings For Sale
• Buildings for Sale: SL Green Realty has to sell its $120 million stake in Times Square’s Crowne Plaza hotel, after a judge ruled that investor Andrew Penson has the right to buy it. SL Green and Argent Ventures are fighting over control of the land underneath the 795-room hotel at 1601 Broadway, which is in default on its $330 million mortgage. Brookfield Asset Management and China Investment Corporation are selling One New York Plaza, their 50-story office building in the Financial District. Nightingale Properties is selling 300 Lafayette Street. Bids on the property, which features 63,000 square feet of office …
  
  
• February 2022 New York Buildings For Sale
• Buildings for Sale: 24-09 Jackson Avenue in Long Island City, Queens, a long-stalled hotel development site in Long Island City, is up for sale. Toyoko Inn is aiming to get around $60 million for its property at 24-09 Jackson Avenue in the Court Square section of the Queens neighborhood. Watermark Capital is exploring a sale of the 226-key hotel at 125 West 26th Street, between Sixth and Seventh avenues. The investment firm has owned the building since 2013, when it purchased it from Magna Hospitality for $113 million. Oceanwide Holdings defaulted on its $175 million loan against 80 South Street, …
  
  
• August 2020 New York New Developments
• New York New Developments 476 new building permits were filed in the three-month period from April through June, spanning 9,309 multi-family units. Nearly half of the footage is residential, just over one-third is commercial, and the rest is split between education and utilities. Amazon said it would increase its fulfillment center square footage by 50% in 2020, that is on top of the 15% increase it reported in 2019. NYC Health + Hospitals’ six administrative offices were consolidated at 50 Water Street and resulted in $200 million in cost savings . HHC signed a 25-year lease for 526,552 square feet. …
  
  
• March 2018 New York New Developments
• New York Major Developments: The city is moving forward with plans to make way for 4.5 million square feet of development on Governors Island. The Trust for Governors Island held its first meeting to discuss rezoning part of the island for commercial real estate development. Beauty chain L’Occitane en Provence is relocating its Fifth Avenue store of 3,378-square-foot lease at 555 Fifth Avenue. The building had an asking retail rent of $1,100 per square foot. L’Occitane’s lease is expiring nearby at 610 Fifth Avenue. Facing high costs and lower than expected profits, retailers on some of Manhattan’s most expensive thoroughfares …
  
  
• September 2016 New York New Developments
• Major Developments: SL Green Realty says it has shaken a pesky lawsuit that threatened to stall the construction of its office building near Grand Central Terminal, One Vanderbilt. The REIT has settled a lawsuit filed by the owner of Grand Central, which alleged that the office landlord and the city rendered his 1.2 million square feet of air rights useless when it rezoned the area. The settlement was made possible, in part, by the recent sale of a stake in Grand Central to Michael Dell’s MSD Capital. In 2012, the Witkoff Group announced it would build a new hotel at …
  
  
• January 2016: New York Buildings For Sale
• New Developments Retail:Overseas retail Brands operate 39% of the stores on Fifth and Madison Avenues and in Soho. Of the 906 retailers, Soho is the most nationally-diverse area, with 24 countries represented. Fifth Avenue had 17 non-U.S. outlets and Madison Avenue had 13. Italianstores had the largest number of stores in those areas.Footlocker and Nike signed leases for large spaces on Broadway. Footlocker signed a $15 million deal to lease 36,000 square feet at 1460 Broadway and Nike signed a $16 million lease for 55,000 square feet at 529 Broadway.Gap signed two leases at 1514 Broadway, into two stores for …