Tunnel Holdings has sold its classic, pre-war, cast-iron loft building at 351-353 Canal Street for $24.75 million.
The 26,000-square-foot property offers three retail spaces on the ground floor, four commercial offices on the second floor and ten residential units on floors three through five.
The property will be delivered vacant, as 85 percent of the tenants Read More
Shortly after a Chinese business tapped Studley’s newly opened Shanghai office to help it expand beyond the city and country and procure space in New York earlier this year, Yin Li, head of the brokerage firm’s China operations, hit a roadblock.
In line with standards in China, Ms. Li’s client was looking to sign a short-term two- or three-year lease, which New York landlords were reluctant to accommodate. Instead, Ms. Li convinced her client to seek out an alternative—a sublease deal.
Eastern Consolidated is suing former associate broker Robert Khodadadian, claiming he violated company policy when he allegedly messaged a cellphone video of himself masturbating “to conclusion” to a teenage intern.
Mr. Khodadadian allegedly sent the (faceless) video to the female intern on April 24, two days before the Manhattan-based commercial real estate firm canned him Read More
Investment Sales 2012
The investment sales market, most brokers agree, has been heating up over the past 12 months. Approximately $25.8 billion in commercial properties changed hands last year, a turnaround that represented an 88 percent increase over 2010. But while the positive uptick is easily verifiable, what happens next for Manhattan’s investment sales market is still up in the air.
Accordingly, The Commercial Observer set out to speak with the real estate industry’s most accomplished capital markets and sales practitioners to learn what’s in store for 2012. Over the next several days, we’ll post interviews with heavy hitters like Richard Baxter of Jones Lang LaSalle, J.D. Parker of Marcus & Millichap, Woody Heller of Studley and Darcy Stacom and William Shanahan of CBRE. But, first, after the jump, none other than Peter Hauspurg of Eastern Consolidated.
The broker in the canary-yellow Dolce & Gabbana overcoat—a festive and vernal touch that was perfectly suitable for this year’s bipolar winter—may be better dressed than most of the commercial brokerage industry, and could certainly lay claim to being one of the toughest in the business as well.
Aliza Avital, thin and towering and striking like a modern-day skyscraper, sat in the conference room in the offices of Eastern Consolidated, where she had just been promoted to senior director.
Eastern Consolidated has promoted Lipa Lieberman and Aliza Avital, both former directors turned senior directors whom the firm’s president, Daun Paris, described in a press release last week as talented dealmakers and rising stars at the company.
The Albanese Organization is closing in on a development site next to the High Line that rapper Jay-Z had owned and lost during the downturn.
The company, a real estate development and acquisition firm, could shell out nearly $60 million for the site according to sources familiar with the parcel, which sits next to the Read More
On the Market
A Soho space that rents to Nike, among other high-end retailers, is on the block and expected to fetch $18 million or above, sources told The Commercial Observer today.
A six-story, 25-unit East Village walk-up with mostly market-rate units has sold for $8.7 million, Eastern Consolidated brokers said yesterday.
RURU & Associates, a family investor, nabbed 68-70 Second Avenue, also known as 86 East 4th Street, after standing out among an estimated 100 other potential buyers.
On the Market
A seven-story, 27-unit elevator apartment building on the Upper East Side hit the market today at $7.5 million.