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Big Real Estate

By Daniel Geiger 3/01/12 9:42am

Big Real Estate

Greetings from Cannes.

What’s MIPIM? In NYC, Nobody Knows.

It’s not just the biggest real estate conference no one has heard of. It’s the biggest real estate conference period. And, yes, most real estate professionals, at least in New York, haven’t heard of it.

Next week 19,000 guests from 90 countries will descend on Cannes, France, for MIPIM, a four-day event that roughly translates as “International Market for Real Estate Professionals” featuring speaking panels and networking opportunities that allow developers to shop major new projects to prospective tenants and investors. Read More

By Olivia Fialkow 6/14/11 1:06pm

Big Real Estate

65 Photos

Adam Schwartz (Photo by Patrick McMullan)

The New York Observer’s Power 100 Party

Some of New York real estate’s finest joined The Observer last night to celebrate our 100 Most Powerful People in New York Real Estate list. The party, at the Harmonie Club on East 60th Street, attracted one half of our No. 1 pick—Jody Durst—whose “better half” (as Mr. Durst insisted of his cousin Douglas) could not make it.

New York Attorney General Eric Schneiderman spoke to the 200 assembled guests.

Optimism was plentiful last night, as partygoers discussed real estate’s comeback with us—many insisting that the dark days are over and the market is looking up.

Stay tuned for more coverage in next week’s Commercial Observer.

Read More

By Tom Acitelli 6/08/11 10:28am

Big Real Estate

Mr. Clark in the World Financial Center, one of Brookfield's trophies.

Brookfield’s Ric Clark on Mitch Rudin Move

Our Jotham Sederstrom caught up with Ric Clark, president of downtown Manhattan’s biggest office landlord, Brookfield, just as news of major moves at the firm trickled out. Chiefly, CB Richard Ellis exec Mitch Rudin would leave that firm after more than two decades to head Brookfield’s U.S. operations.

Why’d Mr. Rudin do it? According to Read More

By Laura Kusisto 4/26/11 10:57pm

Big Real Estate

Thirty Bidders Later, Former Morgan Stanley Hub in Contract

Hines Interests is in contract to sell the imposing hexagon-topped former Morgan Stanley hub at 750 Seventh Avenue, multiple sources told The Observer.

Interest from bidders was “through the roof,” according to one person involved in the process, with 20 to 30 prospective buyers, including a number foreigners from the Middle East and Asia. An offshore investor was Read More

By Tom Acitelli 4/26/11 3:30pm

Big Real Estate

Trump on REBNY: ‘I’m Not a Joiner’

Our politics desk is putting together a piece for tomorrow’s paper on Donald Trump, the presumptive presidential candidate. But what about Mr. Trump, the real estate tycoon? Or, more to the point, what about Mr. Trump, the local real estate tycoon?

He’s always kind of been of New York, but not so much in it, Read More

By Michael Stoler 4/13/11 6:01pm

Big Real Estate

Everything You Need to Know About REITs and Hotels Right Now

With the record tourism in the Big Apple last year, coupled with the improvements in the hospitality industry, one of the most favored asset classes for investment is a New York City hotel. While many hotels are owned by local independent investors, one of the most active investors in this asset class is real estate Read More

By Laura Kusisto 4/12/11 9:54pm

Big Real Estate

Cuomo: Leave My Family Outta Rent-Regs Fight

The fight over raising the rents on New York City’s one million regulated apartments used to be about business. Now it’s become personal.

During a meeting Monday with Democratic Senate and Assembly members and activists, the typically monotone Andrew Cuomo was furious. “I can’t believe they mentioned my family,” the governor said.

He was referring to a heavily Read More

By Laura Kusisto 4/11/11 9:29pm

Big Real Estate

Mammoth Uptown Portfolio Up for Sale

Massey Knakal is marketing one of the largest investment-sales portfolios in recent years in New York City.

The more than 200,000-square-foot bouquet includes six development sites and income-producing properties in northern Manhattan. “We expect tremendous interest in this portfolio, which would take years to put together individually,” firm chairman Robert Knakal, who is leading the assignment (and Read More

By Laura Kusisto 3/21/11 3:20pm

Big Real Estate

Cuomo, Big Real Estate Move Closer on Rent Regs

Rent-regulation reformers could be poised for their first victory in decades.

Ninety-one state lawmakers wrote a letter to the governor this week, calling on him to include what proponents call rent-regulation reform in the budget due March 31. In a surprising turn, the governor agreed. He said at a March 17 press conference that he now Read More

By Laura Kusisto 3/04/11 6:06pm

Big Real Estate

In Hines Sight: Morgan Stanley Hub Up for Sale

Hines Interests is selling its imposing 36-story, hexagon-topped tower at Seventh Avenue and 48th Street, multiple sources told The Observer. 

The Texas-based real estate investment firm, with $22.9 billion in assets worldwide, bought the 600,000-square-foot midtown prize at 750 Seventh Avenue in partnership with General Motors in 2000. The sale price was $150 million, or $260 Read More

By Jotham Sederstrom 3/03/11 7:21pm

Big Real Estate

Parking Garage for Sale! Act Now!

If New Yorkers know anything it’s that finding a parking spot is crucial. And so, when a commercial broker offers the master leases for two retail units on Manhattan’s bustling Third Avenue, it almost goes without saying that a parking garage will be in the offering.

Indeed, brokers at Eastern Consolidated this week announced plans Read More

By Matt Coyne 3/02/11 8:09pm

Big Real Estate

NYSE Sells Former Rival’s HQ; Condo Tower Planned

Star investor and philanthropist Michael Steinhardt and an unnamed partner have acquired  rom the New York Stock Exchange two former American Stock Exchange buildings, 18-22 Thames Street and 78-86 Trinity Place, for a total of $65 million.

Mr. Steinhardt, who made his money as Wall Street’s so-called most successful money manager and who now mostly focuses on Read More