Brooklyn, NY JLL Capital Markets has completed the $110.825 million sale of 1 Java St., a large-scale waterfront development site in the Greenpoint neighborhood. JLL worked on behalf of the sellers, JZ Capital Partners and
Buffalo, NY Uniland Development Co. has officially opened HANSA, a facility that offers private and shared offices, meeting rooms, a podcast studio and event spaces in the city’s downtown area. The 32,000 s/f, two-story space is for comfort and productivity, creatively decorated in industrial chic, and replete with modern amenities that combine to provide “An Elevated Office Experience.”
New York, NY Marcus & Millichap, Inc. (MMI) has entered into a definitive agreement to acquire Mission Capital in a transaction expected to close in the fourth quarter. Founded in 2002, Mission Capital is a nationally recognized capital markets advisor with teams specializing in the sale of loans and consultative/due diligence services as well as debt and equity placement across all property types. The firm’s loan sale and consulting clients include commercial and investment banks, hedge funds, special servicers, government agencies and private equity firms.
On October 1
st, I launched my new book,
“Knowing Isn’t Doing.” And it became the number one bestselling book on Amazon.com for sales books, surpassing, if for only a few days, top sales authors like Jeb Blount and Grant Cardone! How? I could tell you it’s a great book, but looking back, I recognized that I applied the same exact approach to this book, as I applied to growing my company, and that I share with our clients to growing theirs.
The distressed commercial real estate market is all hyperbole. Tenants are not paying rent–mainly retailers–as well as some office occupants. People are not running in the streets to sell their properties at a discount or at a loss.
Manhattan, NY According to Edison Properties and Gottesman Real Estate Partners, Quantcast, a leader in machine learning technology and its application for brands, agencies and publishers, has signed a five-year, 23,000 s/f lease, and BBC Studios, the commercial arm of the British Broadcasting Corp., has renewed a five-year 36,000 s/f lease, both with The Hippodrome (1120 Avenue of the Americas). After previously subleasing a portion of BBC Studios’ space, Quantcast has made its own direct lease. These deals comprise the entire fifth floor.
Manhattan, NY Transwestern Real Estate Services (TRS) announces it represented Sheltering Arms Children and Family Services in the $7.5 million sale of a condominium at 305 Seventh Ave. in Midtown Manhattan to the American Guild of Music Artists (AGMA). The 9,476 s/f condominium comprises the entire second floor of the building, which formerly served as Sheltering Arms’ local foster care program headquarters.
Brooklyn, NY Madison Capital and Salmar Properties completed the lease expansion of Prime Clerk at Liberty Bklyn in Sunset Park. Prime Clerk, a division of Duff & Phelps, provides third-party legal administrative services and expanded from its current 18,940 s/f space on the fourth floor to an additional and adjacent 11,761 s/f unit on the same floor and 21,000 s/f on the third floor, which will be used for commercial printing and mailing.
New York, NY Adelaide Polsinelli, vice chair of Compass has sold 207 East 32
nd St., the beaux-arts headquarters of celebrated graphic artist, Milton Glaser. The property is located between 2
nd and 3
rd Aves. It is a 9,000 s/f boutique office building, which was the clubhouse for Tammany Hall Central Association in 1920, and later became the home of
New York Magazine.
New York, NY Meridian Capital Group and Silver Eagle Advisory Group, a newly formed commercial real estate advisory firm, have launched an advisory practice to provide a range of workout and restructuring services to clients. The partnership will bring together the experienced industry leaders at Meridian and Silver Eagle to serve clients coping with challenges in the commercial real estate industry.
