The real estate investor Ashok Mehra has purchased a 9,500 square foot retail building in Woodside, Queens for $2.22 million.
The deal offers Mr. Mehra the chance to expand his real estate holdings into areas beyond Manhattan, where he owns at least two office buildings, 121 West 27th Street and 19 West 21st Street, which are about 100,000 square feet apiece. Read More
Sugar Hill Capital Partners has purchased 50 Orange Street in Brooklyn Heights for $7.1 million from the Jehovah’s Witness-operated Watchtower Bible and Tract Society of New York, brokers have revealed. Read More
Earlier in the year, the Association of Foreign Investors issued its latest report, noting that foreign investors see the U.S. as the country providing the best opportunities for capital appreciation. In fact, more foreign investors feel that way than during any time in the past 10 years. This interest seems to be much more highly concentrated in just two cities: New York City and Washington.
A few weeks ago, Globes, the Israeli publication and website, released the results of a survey it commissioned that found that Israelis invested $1.15 billion in U.S. income-producing properties in the one-year period ending June 30, 2011. The survey by Bregman Baraz Real Estate found that Israelis were the second-largest foreign buyers after Canadians. Read More
Regular columnist Michael Stoler on Verizon’s major sales the last few years.
While companies like Google are hungry to own commercial real estate in New York City, its competitor Verizon continues to sell off corporate real estate here. Read More
The long-disputed Upper West Side apartment building at the heart of a legal battle that has zig-zagged through courts in Florida, California and New York was sold at auction for $20.1 million to a private investor from New York City, The Observer has learned.
The 49-unit building at 114 West 86th Street went on the Read More
Our guest analyst Michael Stoler on the New York hotel market going forward.
As summer gets underway, New York City hotels continue to be busy. A survey by Priceline.com reports that hotels located in midtown west ranked in fourth position for the top 50 destinations nationwide for the Memorial Day holiday. Times Square and Read More
Sherwood Equities and Fidelity Real Estate Group have entered into a joint venture to purchase 356-366 10th Avenue, a stalled development site in the rapidly growing Hudson Yards district, for $42 million, according to a source familiar with the transaction. Located adjacent to the northern end of the High Line, the site will allow for Read More
With ICSC in Vegas in two days, guest columnist Michael Stoler on retail investment sales right now in New York.
Timing is everything, especially when it relates to real estate. It is hard to imagine that in April 2010, The Wall Street Journal reported that a partnership led by the Carlyle Group and Read More
With commercial and savings banks dipping toes back into the financing waters, one asset class has gained more and more investor interest: development sites for residential apartments and hotels. Parcels of land, especially in Manhattan, are now selling at prices close to those achieved during the wild days of 2007.
It is Read More
