Precision Media Group, a pharmaceutical company based in Bethesda, Md., has signed a deal to relocate one of its subsidiaries to One Grand Central Place.
The marketing subsidiary of the company, Precision for Value, will move into 17,942 square feet at the Empire State Realty Trust-owned building between Park and Madison Avenues, according to a Read More
CapitalSource has provided Adam America Real Estate with a $29 million construction loan for the development of a 38-unit multifamily property in Williamsburg, Brooklyn, Commercial Observer has learned.
The seven-story development, located at 308 North 7th Street, will comprise 38 residential condominium units. Building amenities will include a fitness center, a Read More
Glaze Teriyaki and Untamed Sandwiches will be opening outposts on the ground floor of Rudin Management Company’s 136 East 55th Street between Third and Lexington Avenues, Commercial Observer has learned.
Glaze Teriyaki is taking 1,977 square feet at the 204,269-square-foot, mixed-use building, according to the landlord. The Seattle-style teriyaki joint will relocate to the Read More
Emerging co-working space provider Grind has inked a deal in Midtown South.
Grind will be taking 18,000 square feet at the 78,000-square-foot 1216 Broadway between West 29th and West 30th Streets, according to the company.
Related Companies and Oxford Properties Group’s Hudson Yards development could pay for a slew of transportation programs with the tax revenue it’s generating with their multi-decade project along the Far West Side, according to a new report commissioned by the companies. The 38-page study, prepared by economic study group Appleseed, examines the economic benefits Read More
Commercial Observer has learned that Thor Equities‘ Midtown office and retail property 693 Fifth Avenue between East 54th and East 55th Street, is in contract for $525 million, almost four times what it paid for the building six years ago.
A source close to the deal would not say who the buyer was, Read More
Chicago-based law firm Vedder Price will relocate to a lower floor of its current New York City office building at 1633 Broadway as a cost-saving measure.
The firm inked a 52,555-square-foot, 10-year deal on the 31st floor of the 2.6-million-square-foot building between West 50th and West 51st Streets, according to its broker, Savills Studley. Asking Read More
In the midst of a growth wave, the politically-focused media company City & State Media is expanding at 61 Broadway in the Financial District, Commercial Observer has learned.
City & State, a publication that covers New York government and politics and was formed from the merger of City Hall and The Capitol newspapers in 2012, Read More
The fast-food chain known for its chicken sandwiches, Chick-fil-A, is coming to Queens Center mall, in Elmhurst, Queens, Ryan Holmes, management consultant of urban strategy at Chick-fil-A, told Commercial Observer. The food court location, which will open in the fall, will mark the Atlanta-based company’s first move into the outer-boroughs.
“It’s Read More
Nike has signed a 17,000-square-foot lease at the North Shore waterfront project across from the St. George Ferry Terminal, which is under construction. The store will occupy a ground-floor space when it Read More
William David Tobin founded Mission Capital in 2002 with Joseph Runk. Since the firm’s founding, the company has expanded and has offices in New York, Alabama, Florida, California, Colorado, North Carolina and Texas. Mr. Tobin sat with Commercial Observer in the firm’s Tribeca office and discussed how he got into the real estate industry, Read More
Milbank, Tweed, Hadley & McCloy has signed a letter of intent to occupy a large chunk of space at 55 Hudson Yards, the Far West Side office tower that developers Related Companies, Oxford Property Group and Mitsui Fudosan America have been courting to law firms.
The white-shoe law firm is planning to take 250,000 square Read More
Real estate development firm Stark Enterprises received a $102 million mortgage from Citigroup for a multi-tenant strip mall in North Canton, Ohio, Commercial Observer can first report.
The debt from Citigroup will be securitized in the commercial mortgage-backed securities market, and carries a 10-year term with a rate of 4.75 percent, a source Read More
Supply management company SDI has signed a 41,000-square-foot lease to relocate its Brooklyn warehouse to 46-35 54th Road in the Maspeth section of Queens, Commercial Observer has learned.
The company, which provides logistics services to connect vendors of maintenance, repair and operation supplies to manufacturers, will move into its new digs between 47th and 48th Read More
New York City-based development firm Lightstone has started an “incubator fund,” which it will use to finance real estate-focused investments pitched by entrepreneurs, Commercial Observer has learned.
“Well you see, internally, a lot of what we do is entrepreneurial,” David Lichtenstein, the chairman and the chief executive officer of Lightstone, told CO. “Why not give Read More