News/Events
Related Urban Secures $129M Financing for Downtown Miami Project
Related Urban Development Group said Thursday that it has arranged $129 million in financing for Gallery Lummus Parc, a 257-unit transit-oriented development in Downtown Miami. Greystone Real Estate Capital said it’s providing $80 million in construction financing and identified a $60 million permanent mortgage as a tax-exempt loan through Freddie Mac. Related Urban said additional…
Union Investment Sells Meatpacking District Retail Condo for $27M
A high-profile retail space in Manhattan’s Meatpacking District has traded. Union Investment Real Estate, a Germany-based real estate investment manager, sold a retail condo unit at the base of the mixed-use 415 West 13th Street for $26.5 million, according to city records made public Wednesday. The buyer of Unit 1N was the LLC West Gotham…
BridgeCity Lends $84M on Midtown East Office-to-Resi Conversion
CSC Real Estate has landed $83.5 million of acquisition and construction financing to reposition a Midtown East office property into luxury apartments, Commercial Observer has learned. BridgeCity Capital provided the loan for CSC’s planned 136-unit project at 136 East 57th Street in a deal that closed Oct. 13. CSC acquired the 20-story building for $10…
News Outlet Semafor Takes 12K SF at 495 Broadway
The news never sleeps, and journalists want a comfy space to do their critical work. Digital news organization Semafor has inked a 12,000-square-foot lease at WB Property Group’s 495 Broadway just off Broome Street in SoHo, tenant broker Okada & Company confirmed to Commercial Observer. The lease was first reported by Traded. The deal represents…
AI Platform Fuel Cycle Takes Office Space at GFP’s 630 Ninth Avenue
GFP Real Estate’s 630 Ninth Avenue has a new office tenant. Fuel Cycle, an artificial intelligence-powered platform that helps businesses gather consumer insights and conduct market research, has signed a new lease for 3,354 square feet on the seventh floor of the office property, also known as the Film Center Building. The tenant had previously…
PNC Bank Inks 4K-SF Retail Lease at 312 West 43rd Street
Residents at the Ellery, a mixed-use residential development in Manhattan’s Hell’s Kitchen neighborhood, are getting another retailer at the base of their 33-story home. PNC Bank has signed a 3,500-square-foot retail lease at the base of the property at 312 West 43rd Street, according to co-developers and co-owners Taconic Partners and National Real Estate Advisors.…
Swedish Real Estate Giant To Buy Stockbridge For Up To $550M
Sweden-based EQT is using the transaction to expand its industrial holdings.
Prologis Warns Higher Borrowing Costs Will Slow Industrial Deals, Development
Management at the industrial giant said elevated and volatile debt costs were widening bid-ask spreads and making new construction unprofitable.
After Rig Collapse, Citadel HQ Project Resumes With Safety Protocol Update
Citadel's contractor, Keller North America, obtained approval for new safety protocols following a September rig collapse that sent four people to the hospital.
