Remember when California was the envy of the country? When it was the place where “bowers of flowers bloomed in the spring”? Where everyone from Tony Bennett to the Mamas & the Papas sang anthems to its greatness? When the Joad family…
After shopping mall mogul Igal Namdar started talks to hand back the keys to 345 Seventh Avenue to its lender, the office building will head to the auction block on Sept. 12. Collateral manager Benefit Street Partners (BSP) initiated a…
Lender Fortress Investment Group took control of a yacht and RV park in Fort Lauderdale, Fla., as part of a $85.8 million deal, property records. Called Yacht Haven Park & Marina, the property features 4,800 lineal feet of marina dockage…
A pair of Midtown residential buildings that sold during a messy fire sale three years ago have just been refinanced. Real estate investment firm Sachs Companies has secured $50.5 million to refinance two 13-story residential buildings…
Logistics giant Prologis has seen a financial decline over the past year due to nationwide industrial cooldown, but the real estate investment trust is viewing data centers and AI as a new guiding light. The REIT reported an 18 percent…
Howard Hughes Corporation is officially dividing Seaport Entertainment and Howard Hughes Holdings (HHH). The division means shareholders of HHH, formed over the summer of 2023, will get a payout, and the organization that manages its…
A joint venture among PH Realty Capital, Alma Realty and Rockledge has secured $54 million of acquisition financing to purchase a portfolio of 10 rent-regulated multifamily buildings in New York City, Commercial Observer has learned. Prime…
Prologis wants to build more data centers, and DMV residents will never guess where. The logistics giant — one of the largest real estate investment trusts in the nation — wants to rezone roughly 94 acres of land close to Dulles…
Gatsby Enterprises purchased an office building in Boca Raton, Fla., for $82 million — about $18 million less than its previous sale price four years ago, property records show. Called One Town Center, the 10-story building features 191…
Kayne Anderson Real Estate has hired Lee Levy from Goldman Sachs Asset Management to lead its decade-old real estate debt platform, the company announced Thursday. Levy arrives at Boca Raton, Fla.-based Kayne Anderson after spending seven…
Brasserie Cognac de Monsieur Ballon is opening up a third French dining establishment in Manhattan. The chain — with locations at 963 Lexington Avenue and 517 Lexington Avenue — is opening its next eatery at SL Green Realty’s 461 Fifth…
The planned residential conversion of an Art Deco landmark in Hell’s Kitchen may have to hit pause until the building’s finances get straightened out. Lenders Blackstone and Rialto Capital initiated a foreclosure against Deco Towers…
While San Diego’s Torrey Pines Golf Course may not host the U.S. Open Championship golf tournament again for the foreseeable future, a luxury hotel adjacent to the course will host a new owner. Los Angeles-based JRK Property Holdings has…
A private credit firm is signing on for another decade in a Midtown building owned by SL Green Realty. Brightwood Capital Advisors renewed its 17,320-square-foot lease on the 26th floor at 810 Seventh Avenue, which it originally leased in…
Downtown Los Angeles isn’t the only area of the city struggling with nine-figure office distress. New York-based Edward J. Minskoff Equities (EJME) has defaulted on a $250 million loan tied to a 500,000-square-foot office campus in Playa…
Ashkenazy Acquisition Corporation has secured an $85 million loan to refinance its interest in the Arthouse Hotel New York City, a boutique hotel with 300 suites on the Upper West Side, Commercial Observer has learned. Citi Real Estate…
A commercial litigation firm is remaining in its 38,050-square-foot space in Midtown East. Law firm Golenbock Eiseman Assor Bell & Peskoe signed an eight-year renewal for its offices on the 16th and 17th floors of SL Green Realty’s 711…
The New York City Economic Development Corporation (EDC)’s $89.2 million replacement dock house at the 79th Street Boat Basin finally found its sea legs. The old one — a Dickensian 1,000-square-foot shack on a floating barge moored to the…
Greg Jacobsen’s Aggregate Real Estate Investors has purchased a retail plaza in the Washington, D.C., area from none other than Jacobsen’s former employer. Aggregate acquired the plaza, dubbed Montrose Shopping Center, in Rockville, Md.,…
A joint venture between London developer Chelsfield Group and investment firm Ram Holdings has sealed a $50 million loan to refinance its newly renovated SoHo office building. Maxim Capital Group, Sabal Investment Holdings and GDS…
Real estate investors have only seen the tip of the iceberg when it comes to cold storage, with refrigerated warehouse company Lineage expecting to reach an up to $19.2 billion valuation once it goes public later this year. Lineage hopes…
Another developer wants to redevelop an aging office complex in Boca Raton, Fla., into a mixed-use property. MHCommercial Real Estate Fund filed a proposal to add a 289-unit residential building onto the 900 Broken Sound office property at…
The San Diego area is one of the most desirable places to live in the country, and GID Real Estate Investments wants in on the action. The Houston-based developer purchased Millenium PQ, a 331-unit trophy multifamily complex in the city’s…
Software developer Automattic has renewed its 11,511-square-foot lease at Renaissance Properties’ 166 Crosby Street, Commercial Observer has learned. Automattic — which developed platforms such as WordPress, Akismet, Cloudup, Gravatar and…
The good news? A 12-story office building in Downtown Washington, D.C., sold for nine figures. The bad, if unsurprising news? It was an overall net loss for the seller after an expensive renovation. New York-based real estate giant Tishman…
Alternative investment manager Ares Management outgrew its Park Avenue office and added three more floors. Ares signed a nine-year lease to grow its footprint to 307,336 square feet across the top eight floors of SL Green Realty and Mori…
Lincoln Equities Group has secured $60.8 million in construction financing to build a 420,000-square-foot industrial property directly alongside Interstate 295 in Hamilton, N.J., Commercial Observer has learned. PCCP provided the…
Blackstone finalized its deal to expand its footprint at Rudin’s 345 Park Avenue to 1.06 million square feet. The real estate investment trust, which has the third-largest portfolio of single-family homes in the U.S., signed a deal with…
Barry Sternlicht’s Starwood Capital is offloading a Plaza District hotel to a Maryland-based hospitality group for $265 million. Host Hotels & Resorts purchased the building, currently under Sternlicht’s 1 Hotel Central Park brand, with a …
A joint venture between Ares Management Real Estate Fund and NorthPoint Development has secured $244 million to refinance a 10-building warehouse and distribution facility portfolio outside Kansas City, Mo., Commercial Observer has learned…