News/Events
Skin Care Brand FaceGym to Open New Tribeca Location at 110 Reade Street
Time to face the music. FaceGym, a skin care brand that describes itself as a “facial fitness” studio, has inked a 10-year, 2,400-square-foot lease for a new Tribeca spot at 110 Reade Street, according to landlord broker Platinum Commercial. Founded in 2014 in London, FaceGym offers customers “facial workouts” and “combines muscle manipulation techniques” to…
SMBC Refis Apartments near Dallas, Philly With $108M Loan
The Philadelphia Eagles and Dallas Cowboys are longtime fierce rivals in the National Football League’s NFC East, but the two markets have a common link in one of commercial real estate’s latest multifamily financings. Ares Real Estate has inked a $107.5 million loan to refinance an apartment portfolio in the Dallas-Fort Worth and Philadelphia areas…
Netflix Studios Extends Nearly 10K-SF Lease at 817 Broadway
A major streaming platform has renewed its office space just south of Manhattan’s Union Square, Commercial Observer has learned. Netflix Studios extended its lease spanning 9,943 square feet at Taconic Partners’ 817 Broadway, according to a source with knowledge of the deal. It’s unclear when the tenant moved in or how long the extension is…
BXP Sells 11% Stake in 343 Madison Avenue Office Tower to AVRS Partners
BXP, the largest Class A office owner in the country, has sold a 10.6 percent stake in 343 Madison Avenue, a planned 46-story, 930,000-square-foot office development in Midtown Manhattan, to AVRS Partners, in a project that is expected to cost roughly $2 billion. BusinessWire first reported the news of the equity partnership. “We are pleased…
CMBS Loan Backed by Hyatt Regency Waikiki Beach Resort Sent to Special Servicing
A $302 million commercial mortgage-backed securities (CMBS) loan secured by the Hyatt Regency Waikiki Beach Resort & Spa, a 1,230-key luxury resort in Honolulu, has been sent to special servicing after sponsorship failed to deliver its final maturity payment earlier this month, according to an alert from Morningstar Credit. The $302 million loan — listed…
Lenders Accuse Nord Group Entities Of Pocketing Rents, Faking Insurance As Multifamily Empire Crumbles
A federal judge told a Nord Group affiliate to “get out of the damn property” as the firm’s 4,000-unit portfolio falls to foreclosure and bankruptcy.
Hospital Construction Costs Are Climbing. Atlanta's Healthcare Systems Keep Building
The growing aging population in the U.S. is forcing healthcare systems to rely more heavily on outpatient care, driving a need to build more facilities.
JPMorgan's Chicago Office Renovation Costing Bank Over $800M, Dimon Says
JPMorgan announced the renovation in February 2024, but at the time, it declined to disclose a full cost estimate for the major overhaul of the building.
'Something Has To Give': NYC Economic Development Corp.'s Big Ambitions Collide With Red Ink
Decades of stalled projects and a dwindling asset pile cloud the city's ambitions to use the NYC Economic Development Corp. as a tool for economic justice.
