Mergers and Acquisitions
C. Wonder has signed an additional 8,835-square-foot lease at Adams & Company’s 1115 Broadway, bringing the firm’s total footprint in the building to 36,530 square feet.
The clothing, accessory and home décor company moved into the building nearly two years ago, taking 24,000 square feet at the time, and it is in talks to grab Read More
Vox Media is reportedly buying online media company Curbed.com L.L.C., and the two companies are already celebrating in style – over fried chicken and pork buns.
The New York Times broke word yesterday that the digital media company would acquire Curbed and its three web publications, which report on real estate, dining and retail, for a mix of stock and cash valued at $20 million to $30 million.
Luxoft USA, Inc. has signed a roughly 4,700-square-foot, 10-year lease for a portion of the fifth floor at Savanna’s 100 Wall Street.
The software development and IT solutions provider relocates to the building from its former Penn Plaza location, representative of a broader shift among tech tenants moving Downtown.
“We definitely are seeing an influx of Read More
Capital One Bank has completed the syndication of the previously announced $220 million credit facility for American Realty Capital New York Recovery REIT, Inc. (“NYRR”).
The syndicated loan will be used primarily to facilitate acquisitions of large, institutional-quality properties in New York City, the bank said.
Capital One Bank acted as the sole lead Read More
How many fast food joints does it take to satisfy a multi-billion-dollar real estate operation?
New York-based real estate giant American Realty Capital has purchased 10 fast food restaurants in the Dayton, Ohio area alone in the last two months, the Dayton Business Journal reported.
The firm paid $15.5 million for the portfolio, which includes Read More
New York City-based national real estate investment firm The Praedium Group and its partners have sold the leasehold interest at 16 West 36th Street in Midtown to South Kiamie Industries, Inc. for $12.9 million – and a Brooklyn residential property in the Crown Heights neighborhood for $22 million.
The firm announced the Manhattan sale earlier Read More
ING US, Inc. has signed an 11-year lease extension for 144,000 square feet at the historic 1.4-million-square-foot 230 Park Avenue, The Commercial Observer has learned.
The leading provider of retirement, investment management and insurance services has been in the building since 1984, starting with a 55,000-square-foot lease and steadily expanding its footprint over the past Read More
World Business Lenders LLC has signed a new 23,406-square-foot lease for its new headquarters across the entire 5th and 29th floors at SL Green Realty Corp.’s 120 West 45th Street, aka Tower 45, The Commercial Observer has learned.
The company, a private provider of short-term and flexible commercial loans to small and mid-sized companies throughout Read More
SAP America, Inc. has signed a 16-year lease for an additional 30,714 square feet of space at Related Companies’ South Tower at Hudson Yards, The Commercial Observer has learned.
The company leased the top four floors – 44 through 47 – back in April and now adds the entire 43rd floor, bringing the Read More
Three months after a prominent New York City appraiser suggested that Barbie’s oceanfront Malibu dollhouse should be bulldozed, a new Barbie Dreamhouse is being offered to the public — and this one actually exists, offering a chance to “show off your moves in the spotlight.”
Mattel and EMS Entertainment opened a 10,000-square-foot life-size touring Barbie Dreamhouse at the Sawgrass Mills mall in Sunrise, Florida this week to endless chatter and realized dreams after inking a summer lease agreement with real estate giant and mall owner Simon Property Group. The best part: a similar house could be coming to New York City.
The Dreamhouse features a fashion runway, “Rockstar Stage,” Barbie café, living room, bedroom, an “endless” closet, bathroom, kitchen, balcony and entertainment room, with more than 350 Barbie dolls among other classic memorabilia.
Yeshiva University has sold off the final lot of a building portfolio that it received as a gift then aggressively marketed, pulling in $2 million more than the original asking price and demonstrating the heavy demand for retail in the Lower East Side.
The Commercial Observer has learned that Ben Ashkenazy of Ashkenazy Investments paid $6 million for the corner retail building at 156-164 Delancey Street, on the northwest corner of Delancey Street and Clinton Street, which was originally on the market by for $3.95 million.
The building currently consists of six commercial units, five of which are occupied with leases that expire between 2016 and 2021, and it was marketed based on its redevelopment potential.
“Retail properties like this are in extraordinarily high demand today,” said Massey Knakal Chairman Bob Knakal, who exclusively handled the transaction with Michael DeCheser.
A 4,000-square-foot Bank of America branch location under construction at 6601 18th Avenue in Bensonhurst, Brooklyn has changed hands for $8.45 million, city records show.
The property sits on the corner of 66th Street and 18th Avenue, which is also known as Cristoforo Colombo Boulevard and is one of the neighborhood’s most heavily-trafficked thoroughfares.
Massey Knakal marketed the property, originally for $9.75 million, as offering “a high yield, management free investment opportunity in the heart of one of Brooklyn’s fastest growing middle-class neighborhoods.”
Accounting firm EisnerAmper has signed a lease renewal and expansion at 750 Third Avenue, The Commercial Observer has learned.
The eight-year lease solidified the firm’s existing 138,000 square feet across floors 13 through 17 and 21, while adding 12,000 square feet on the 22nd floor.
“They have a dynamic, growing practice,” said Newmark Grubb Knight Frank Vice Chairman Mark Weiss, who represented the tenant with Rob Eisenberg and Robert Emden.
“It’s a good building, near Grand Central and with great functionality – and the landlord has been very reliable,” he added, referring to SL Green Realty Corp.
SL Green Realty Corp. today announced that 35 office leases covering 457,677 square feet were signed in its Manhattan portfolio during the first two months of the year, already trumping its totals from the fourth quarter of 2012.
The year so far was highlighted by a 150,865 square foot lease signed with Eisner Amper at 750 Third Avenue, and the firm also said it has 600,000 more square feet in the pipeline
“Even though first-quarter leasing is typically slow, we entered 2013 with confidence, given our overall assessment of the New York commercial real estate market and knowing what we had in the pipeline at that point,” SL Green’s CEO Marc Holliday said, in a statement. “Our results and activity since January have far outpaced our expectations.”
Office-leasing specialist Adam Rappaport has joined Avison Young as principal, leaving Cushman & Wakefield after 13 years to join a growing list of industry pros to be scooped by the Canadian firm.
A string of hires within the last few months highlights the firm’s mission to expand its footprint across New York City and the United States — and Mr. Rappaport cited that as a motivator for his move.
“I am excited to be part of an organization that is poised for such tremendous growth, and look forward to leveraging my relationships and expertise to establish new avenues for business development,” Mr. Rappaport said, in a statement announcing his hiring.