IBI Group â€¢ Gruzen Samton to design Marriott Hotel

IBI Group â€¢ Gruzen Samton is designing a new Marriott Hotel. The four-star, 202,500 s/f, 17-story, 276-room hotel will be located in the new Statue of Liberty Harbor North redevelopment neighborhood. The tower will contain functional spaces and is articulated to separate it from the residential super-block where it is located. Outdoor seating areas on the 4th floor restaurant terrace and the penthouse lounge terrace will enliven the hotel's street edge with color and materials to separate the massing and clarify the design. Statue of Liberty Harbor North Urban Renewal Entity, LLC, an affiliate of The Tramz Hotels Group, is developing the project with Marriott International Inc. Construction is scheduled to start in the 4th quarter of 2014 with an expected completion in the Fall of 2016. "Jersey City is one of the most diverse and dynamic cities in the nation, and the addition of a new, flagship, world-class hotel speaks to the vibrancy of Jersey City to continue to attract development and tourism to our city," said Jersey City Mayor Steven Fulop.

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Investment Property Realty Group closes $3 million sale of 4,350 s/f mixed-use building at 709 Fulton St.

Brooklyn, NY Investment Property Realty Group (IPRG) closed the sale of 709 Fulton St., a mixed-use building located in the Fort Greene section of the city, for $3 million.

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Zenith IOS and J.P. Morgan Asset Management close $215 million senior secured credit facility

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The death of the generic offering memorandum: What buyers expect in 2025 - by Kimberly Zar Bloorian

There was a time when an offering memorandum (OM) was pretty bare bones, some photos, a few bullet points on income, and a rent roll thrown in at the back. That used to get the job done. Not anymore. In 2025, buyers are sharper, faster, and more selective. They’re looking

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Many long-time property owners are divesting from their rent stabilized properties at an increasingly rapid pace. This trend has gained momentum primarily due to the unyielding permanence of rent laws over the past six years and the increasing operating costs that continue to outstrip rent growth. In addition, the judiciary’s elongated timeline in processing evictions and tenant rent challenges,

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When owners are due for a significant Property Improvement Plan (PIP), they must carefully evaluate what the best course of action is. Over the past five years, major hotel brands have become significantly more flexible with their PIP schedules.