Brooklyn, NY Avdoo closed on a $47 million construction loan for 110 Boerum Pl., the firm’s newest residential development in Cobble Hill. The financing, provided by Valley National Bank, represents a milestone as the project continues to progress on this
Manhattan, NY BXP made public that Grammarly has signed a lease for 23,038 s/f at 360 Park Ave. South. Grammarly will occupy an entire floor of the fully redeveloped 450,000 s/f workplace, which features newly renovated and reimagined lobbies, a full suite of amenities, and pre-built
Manhattan, NY Vornado Realty Trust has entered into an agreement to purchase the 623 Fifth Ave. office condominium, a 36-story, 382,500 rentable s/f building situated above the flagship Saks Fifth Ave. department store, for $218 million. The building’s location provides for light,
Brighton, NY Endeavor Real Estate Group represented the buyer in the acquisition of 800 West Metro Park, a flex building. A local investment group paid $1.95 million for the 21,000 s/f building, built in 1999 on 3.96 acres. The asset was 100% leased and producing income at the time of
Lower interest rates and an increased number of loan restructurings will be well received by the commercial real estate industry. Over the past 12 months there has been a negative trend for NOI for many properties across the country.
Manhattan, NY Merchants Capital secured $25.2 million in financing as part of the recapitalization and rehabilitation of Westbeth Artists Housing, a 384-unit historic, mixed-use affordable artist housing development. Westbeth Artists Housing is one of the oldest and largest affordable artist
Brooklyn, NY Design Within Reach (DWR), the furniture and home décor retailer, has renewed its 39,440 s/f outlet store lease at Industry City in Sunset Park. The 10-year lease extension underscores the brand’s continued success on campus and the ongoing evolution
Manhattan, NY Michael Ferrara, managing principal and Cole Kinney Leonhardt, investment sales associate of Brax Realty negotiated the sale of 174-176 5
th Ave. for $13.2 million.
New York, NY Kasirer made known two promotions within its senior leadership team to support the company’s continued growth. Suri Kasirer has become chief executive officer. Julie Greenberg has been promoted to president.
Manhattan, NY Taconic Partners and National Real Estate Advisors have signed a lease with ALDI at The Ellery, a new luxury rental residential offering, designed by Handel Architects, that spans 32 stories in Midtown. The 25,000 s/f ALDI location will provide space
