News
Sunday Summary: Power 100 Has Arrived
18+ hour, 8+ min ago (936+ words) Last week was Commercial Observer's biggest issue of the year: Power 100. This is where we take all the data, the trends, the transactions, the stories and the profiles of the last year or so, and try to distill it all…...
Sake Brooklyn to Open 7 K-SF Brewery at Property Markets Group's Society Brooklyn " Commercial Observer
2+ day, 14+ hour ago (352+ words) A sake brewery and taproom is coming to Gowanus" Society Brooklyn development. Sake Brooklyn has leased 6, 500 square feet at 500 Degraw Street along the Gowanus Canal. Its new home sits on the northern corner of Society Brooklyn, a new 605, 000-square-foot multifamily…...
Hyatt in So Cal's Inland Empire Secures $104 M to Finance Upgrades " Commercial Observer
2+ day, 11+ hour ago (283+ words) A previously distressed hotel in Southern California's Inland Empire that was purchased in a bankruptcy auction has secured a nine-figure financing package for a significant renovation. Nonprofit development firm National Core closed on $103. 6 million in tax-exempt bond financing for the…...
Core Spaces Secures $1. 64 B Fundraise for Student Housing Investment
2+ day, 12+ hour ago (381+ words) Core Spaces, the Chicago-based real estate investment firm, developer, and property manager that specializes in student housing and build-to-rent communities, announced this week that it has secured $1. 64 billion in capital to close a pure-play student housing investment fund, Core Spaces…...
Hochul Pitches Lawmakers a Pied--Terre Tax on Homes Valued at $1 M and Up – Commercial Observer
2+ day, 14+ hour ago (51+ words) Kathy Hochul submitted a proposal to Albany lawmakers to approve a proposed pied--terre tax on non-primary residences in New York City....
Law Firm Baker Mc Kenzie Expands to 122 K SF at 10 Bryant Park " Commercial Observer
2+ day, 14+ hour ago (418+ words) Global law firm Baker Mc Kenzie is staying put at its Midtown office tower at 10 Bryant Park and taking more space. Baker Mc Kenzie, which provides legal, tax and regulatory advisory services to corporations, has signed a deal to renew…...
NYC Employee Retirement System Renews 35 K SF at The Factory in LIC
2+ day, 15+ hour ago (430+ words) New York City's Employee Retirement System (NYCRS) is keeping its office space in Long Island City, Queens." The pension provider renewed its 35, 000-square-foot lease at The Factory office complex, Commercial Observer has learned. NYCRS, currently the largest municipal public employee…...
VC Firm, Ad Agency Lease Two Floors at Greystone's 75 Spring Street
3+ day, 12+ hour ago (357+ words) Venture capital firm Deviation Capital and global ad agency Untold Studios have absorbed 13, 246 square feet on two full floors of Greystone Management's 75 Spring Street in Manhattan's So Ho neighborhood, Commercial Observer has learned. A new spinoff from financial giant Two…...
UBS Refis Chelsea Office Building With $161 M Loan " Commercial Observer
3+ day, 9+ hour ago (251+ words) A joint venture between Vornado Realty Trust and Aurora Capital Associates has sealed a $161 million loan to refinance an office and retail asset in Manhattan's Chelsea neighborhood. UBS provided the interest-only loan for the sponsorship's 194, 000-square-foot office building at 61 Ninth…...
Vornado, Stellar Finalize Plans to Add 976 Units to Independence Plaza
3+ day, 17+ hour ago (310+ words) Vornado Realty Trust and Stellar Management have finalized plans to build an additional 72-story residential tower at Independence Plaza, a three-building, 1, 328-unit multifamily campus in Manhattan's Tribeca neighborhood, according to a Wednesday filing with the New York City Department of…...