Eleven years after buying the Hotel Bossert at 98 Montague Street in Brooklyn Heights, the Chetrit Group’s $112 million note on the property has traded hands. BP Holdings Goldenrod LLC, a shell corporation with the same address in property…
RCLCO Fund Advisors offloaded two properties near the Miami Design District for nearly $27 million — about 40 percent less than what the Los Angeles-based firm paid nearly a decade ago. In the larger deal, The Comras Company paid RCLCO $14…
Baltimore’s Rye Street Market will soon see a new restaurant option along with a dedicated karaoke bar. The MAG Partners and MacFarlane Partners-led Baltimore Peninsula development group has inked two leases with Tex-Mex restaurant concept…
In another example of an out-of-state employer expanding in South Florida, technology firm Innovative Solutions said this week that it has opened a second headquarters in Boca Raton. The company has moved into a 2,600-square-foot office at…
Kern County, Calif., is poised to become a global logistics and distribution hub — and California’s wealthiest family is leading the charge. Billionaires Stewart and Lynda Resnick, who together own The Wonderful Company, want to…
Media startup Puck spilled some ink on a deal with landlord Trinity Church Wall Street, Commercial Observer has learned. Puck signed a seven-year lease to move its newsroom to 10,108 square feet on the 23rd floor of 107 Greenwich Street,…
The weather in Manhattan was sunny with temperatures in the 70s on May 7 during Commercial Observer’s eighth annual Spring Finance CRE Forum, which attendees no doubt hope signals brighter days ahead for a commercial real estate market…
For big city landlords and office owners, seeking to shave a few dollars off tax bills might as well be muscle memory. On March 1 of this year, there was a line down the block in front of the Municipal Building in Lower Manhattan to file…
Construction for multifamily projects in Southern California is at 10-year low, and hiring trends in the built industry are reflecting the downturn. There were 755,900 property-related jobs in Los Angeles, Orange, Riverside and San…
In the two years since Memorial Sloan Kettering Cancer Center (MSK) announced plans for a new $2 billion facility on the Upper East Side, the illness remains a growing threat. To prepare for what is likely to be an “avalanche” of new…
French luxury leather goods brand Maison Goyard is moving its New York City outpost to 9,000 square feet at 699 Madison Avenue, according to its broker Retail by Mona. The new shop will serve as both office and retail space for Goyard and…
An affiliate of D.C. health club Byndfit was ordered by a District of Columbia Superior Court judge on Tuesday to pay nearly $8.2 million to its landlord for back rent on its Chinatown fitness space. The penalty could increase if the…
Eight mixed-use buildings in the East Village have been sold by a clan known as the Eis family to three separate buyers, according to brokers Avison Young. The 82,245-square-foot portfolio — which has been owned by the Eis family since the…
Ninety-nine-unit residential complex Tribeca in Washington, D.C.’s NoMa neighborhood is headed for foreclosure, deed records show, as the debt on the building continues to snowball and its owners have reportedly been delinquent on interest…
Publishing giant Condé Nast will hand over another piece of its 1.2 million-square-foot 1 World Trade Center headquarters, this time to private-eye-turned-financial-advisory firm Kroll. Kroll signed a 10-year sublease for 48,026 square…
Just a month after gaining control of the former Kayak Hotel in Miami Beach, loan service provider Trimont Real Estate Advisors sold the Art Deco property to Blue Suede Hospitality Group. The New York-based investor paid $12.8 million for…
Grubb Properties has nabbed $214.5 million of construction financing to build a high-rise multifamily project in Long Island City, Queens. Kennedy Wilson and Related Fund Management, a subsidiary of Related Companies, provided the loan on…
Stephen Palmese’s new credit fund, Integritas Capital, is lending $53 million to refinance one of the last undeveloped pieces of land in Red Hook, Brooklyn, Commercial Observer has learned. The borrower, John Quadrozzi Jr., owner of the…
Los Angeles’ Measure ULA has a new victim in Clarion Partners. The New York-based investment firm sold an apartment complex, at 5710 East Crescent Park in Playa Vista, Calif., to DivcoWest for $122 million, according to The Real Deal,…
Global law firm Watson Farley & Williams will move into new digs at Kamber Management’s Tower 45, and shed more than half its square footage in the process, Commercial Observer has learned. The firm signed a five-year lease for 12,919…
Robert Rivani’s Black Lion Investment Group has secured a $37 million loan to refinance three Miami restaurants, Commercial Observer has learned. City National Bank of Florida provided the loan on Rivani’s Gekko at SLS, Amara at Paraiso…
CRED iQ’s research team has fielded multiple requests to explore the commercial real estate collateralized loan obligations (CRE CLO) ecosystem from a wide array of perspectives. This week we decided to extend the horizon a bit as the…
Craig Hudleston has been spending plenty of time on airplanes flying from his home in Singapore to New York since his promotion to global chief operating officer for CBRE Property Management in August 2020. Now, he’s set his sights on…
The under-construction Urban Empowerment Center in Harlem just locked down deals with its first three office tenants, developer Taconic Partners announced. In the biggest deal, the Studio Museum in Harlem leased 26,000 square feet to open…
Though the much-debated plan to build a new stadium for the Washington Capitals and Wizards in Virginia is dead for now, Washington, D.C., officials are not giving up on their efforts to redesign the city’s Chinatown neighborhood, home to…
Insurance and annuity company Venerable is moving its headquarters to 1 World Trade Center, Commercial Observer has learned. Venerable signed a lease for 11,000 square feet on the 49th floor of the building owned by the Port Authority of…
A pair of industrial buildings in Southern California’s Inland Empire region have received some new financing. Newport Beach, Calif.-based Bixby Land Company secured $63.9 million in loans from Lincoln Financial Group and PCCP (formerly…
Manhattan’s second-biggest office landlord needs to fill some big gaps in its portfolio, and it’s willing to make concessions to do so. Occupancy across Vornado Realty Trust’s 20.4 million-square-foot office portfolio fell to 89.3 percent…
Blackstone and Invesco Real Estate bought three warehouses, all in Pompano Beach, Fla., in separate transactions that totaled $44.6 million — nearly double the sales price recorded since the last time the sites traded hands. In the largest…
As the City of Los Angeles prepares to clean the long-abandoned Oceanwide Plaza towers of its stacks and stacks of graffiti, its developer and lenders are still looking to shed the place once and for all. Colliers and advisory firm Hilco…