The banks have welcomed Billy Macklowe back with open arms.
Mr. Macklowe has secured a $25 million mortgage at 636 Sixth Avenue, which he picked up for $45.2 million a few months ago. The lender was Capital One National Association.
When Mr. Macklowe bought the building with ING Clarion in January, he told Read More
Scott Singer, our regular contributor on real estate financing, on the end of a years-long rollercoaster.
Does anyone know a good analyst? After a three-year evolution in which the real estate transaction market went from manic to fearful to panic-stricken to catatonic to cautious to tentative, it has now arrived at fully operational.
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The home of our beloved Spin magazine has sold to the Laboz family, who appear to have designs on greater respectability.
The senior note on 408-410 Broadway just sold for $30 million to United American Land, the Laboz family’s company. They will now lease the majority of the property to Professional Business College, Read More
Ever since the Mattel Building at 675 Sixth Avenue lost its namesake toymaker, the upstairs office space has presented a puzzle.
The retail space is by now the happy home of Trader Joe’s, but the upper levels, which were converted to office spaces in 1986 under the ownership of Israel Taub’s Chelsea Green, are Read More
Lenders with the ability to use their own strong balance sheets are flexing their muscle on both sides of the risk-reward matrix: winning deals by offering attractive pricing for both core and value-add deals and making it difficult or impossible for both CMBS lenders and non-institutional funds to compete for those deals.
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From a transactional standpoint, each of the past few years has had a palpable feel, both along the way and in hindsight. If 2007 was “the top of the world,” 2008 was evenly divided between “the precipice” and “the abyss.” And 2009 was “the year when nothing happened.”
Last year had more Read More
