News/Events
Sponsored Content: 'Redefining Industry Standards': RCG's 3-Pronged Approach To Building Automation
Owners are now proactively integrating building automation solutions into their properties, according to Sean Edwards, CEO of Rittenhouse Communications Group.
BPS Purestone Hurries To Disrupt Undervalued London Market In £500M Push
BPS Purestone bets £500M to disrupt London's office market with swift value-add asset acquisitions.
Longfellow Sells Hatch Life Sciences Building in LIC for $87M
Life sciences developer Longfellow Real Estate Partners has parted with its first-ever New York City project at a discount. Longfellow’s Hatch Life Sciences Building, located at 43-10 23 Street in Long Island City, Queens, has sold for $86.9 million, according to city records filed Friday. Pearl Realty Management’s Jack Guttman signed for the buyer, under…
Barry Sternlicht’s Starwood Buys Two Miami Affordable Housing Rentals
Barry Sternlicht’s Starwood Asset Management has acquired two affordable housing properties in Miami-Dade County from the Gatehouse Group, paying a combined $63.8 million, property records show. In the largest deal, the investor paid $34 million for the 150-unit Magnolia Landing Apartments in the Naranja neighborhood, near the southern end of the county. Built in 2011,…
Ad Agency Doubles Office HQ Space in Move to Hackman Campus in L.A.
An international advertising agency is more than doubling its office footprint with a new headquarters lease in El Segundo, Calif. Innocean USA signed the 101,000-square-foot deal at Hackman Capital Partners’ creative office campus in the small enclave just south of Los Angeles International Airport. The agency will relocate nearly 600 employees from 50,000 square feet…
Attorney James Allen Joins Camber Property Group as Senior Counsel
Camber Property Group has onboarded a new general counsel for its affordable housing and community development transactions, Commercial Observer has learned. James Allen has decamped from real estate law firm Hirschen Singer & Epstein and started the new role this week assisting Camber with affordable housing projects in New York state and the New York…
Selldorf Architects Renews 14K-SF 860 Broadway Lease for 10 Years
Architecture firm Selldorf Architects has renewed its 10-year, 13,815-square-foot lease at Gordon Property Group’s 860 Broadway. Selldorf has called the Flatiron District’s 860 Broadway home for the last two decades, according to landlord brokerage Colliers. The asking rent was not disclosed. However, the average asking rent for office space in Midtown South was $79.41 per…
Valley National Bank Provides $30M Value-Add Refi for Park Towers in Miami
Moshe Popack’s YMP Real Estate Management has secured $30 million to refinance Park Towers, a 210-unit multifamily complex in Miami, Commercial Observer can first report. Valley National Bank provided the loan, structured at a fixed-rate of 6.09 percent, while Meridian Capital Group’s David Hayum and Michael Farkovits arranged the transaction. Meridian’s Hyum noted in a…
Document Processing Platform Extend AI Signs 9K-SF Lease at 119 Fifth Avenue
An artificial intelligence-driven document processing firm is relocating within the Flatiron District, Commercial Observer has learned Extend AI signed an 8,750-square-foot lease across the entire sixth floor of 119 Fifth Avenue in a relocation from its current offices at 135 West 29th Street, according to the brokers at Nomad Group. Nomad did not disclose the…
