The developers of Midtown’s Dream Hotel have closed on the purchase of air rights to bring their $300 million project to 29 stories and 384 feet, Commercial Observer has learned.
Soho Properties, MHP Real Estate Services and Hampshire Hotels Group closed last Friday on a $8.9 million deal to purchase 19,772 square feet of Read More
Kensico Properties is looking to fill 30,000 square feet of space of its Art Deco office building, Commercial Observer has learned.
Sam Seiler and Arkady Smolyansky of CBRE are marketing 509 Madison Avenue, which has 160,000 square feet of leasable space in total. The 85-year-old building sits at the corner of East 53rd Street. A Read More
Gov. Andrew Cuomo, accompanied by Vice President Joe Biden, announced bold plans to replace LaGuardia Airport in its entirety on this afternoon, tearing down a hodgepodge of dilapidated terminals that Mr. Biden has famously compared to a third-world facility with a single integrated terminal linked to train and ferry service.
Mr. Cuomo, speaking at a lunch Read More
Aruliden, a consulting firm that focuses on brand strategy and product design, is keeping its full-floor lease at 30 West 24th Street in the Flatiron District, Commercial Observer has learned.
The company, which has done work with BMW, Microsoft and Budweiser, has inked a nine-year renewal for 5,625 square feet on the ninth floor, according Read More
Developer Triangle Equities is almost ready to open its new multi-use facility in the Bronx, and the project is nearly fully leased.
The firm announced the signing of leases for two tenants, healthcare services nonprofit Brightpoint Health and DaVita Dialysis Center, at the $35 million, 88,000-square-foot Triangle Plaza Hub in the South Bronx.
The Read More
Pop quiz: Who just took the majority of a floor at 1250 Broadway?
Testing center Prometric is opening its fourth center at the Koreatown building between West 31st and West 32nd Streets. The company, which has locations in Midtown East and 1 Penn Plaza, has signed a deal for 11,628 square feet on Read More
CIT provided a $48 million construction loan to Arun Bhatia of New York-based Bhatia Development Corp. and Jeffrey Katz, chief executive officer of Sherwood Equities, for the development of a condominium tower in the Flatiron District, Commercial Observer has learned.
The partnership between Mr. Bhatia and Mr. Katz purchased an existing three-story building at 10 Read More
When SR Capital’s new 19-story, 44-unit luxury condominium 551 West 21st Street between 10th and 11th Avenues opens this year, 303 Gallery will move into its long-awaited new home.
Atlanta-based Columbia Property Trust has agreed to buy the office condominium at The New York Times Building, or 229 West 43rd Street, and is seeking a $300 million bridge loan to finance the purchase.
The real estate investment company announced it would pay $516 million for the 345,701-square-foot condo comprising more than half of the Read More
The CMBS world was hit hard by office departures and downsizing in Washington, D.C., in June—a trend that has continued with two more loans sent to special servicing this month, according to data from Trepp provided to Commercial Observer.
“This uptick in offices becoming delinquent or being sent to special servicing seems to Read More
At least six years after Mayor Michael Bloomberg began calling for the Lower Manhattan Development Corporation to be disbanded, the much-maligned entity responsible for redeveloping the area around Ground Zero has dropped yet another ball: now it may not even build the arts center that was long promised as part of the redevelopment.
At a Read More
This week, the Bea Arthur Residence—an 18-bed homeless shelter for LGBT youth—announced that renovations would be completed in 2016, the most recent item of good news for the LGBT community, which has finally been getting the recognition and real estate it deserves of late.
Most notably, last month the Stonewall Inn was designated a New York City landmark in a Read More
David Bagatelle, who oversees the New York metro market at Sterling National Bank, told Commercial Observer about his role at the company and his teams’ recent expansions. The Queens native started his banking career at M&T Bank in 1989 and went on to become one of the three founders of Signature Bank in 2000. Following Read More
Two demolition workers were injured this morning when removing a piece of ceiling on the second floor of 317 Madison Avenue, a Tishman Construction spokesman said.
The second-floor ceiling came before 10:15 a.m. and first responders came to the scene and transported the pair to Bellevue Hospital, according to a spokeswoman for the New York Read More
Blue Water Grill, which has been located at 31 Union Square West between East 16th and East 17th Streets for nearly two decades, is staying put.
The seafood restaurant signed a lease renewal for 11,700 square feet in the mixed-use building owned by David Ellis Real Estate, according to RKF. The building has more than Read More