From the Finance File
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
Strategically designed to lure the world’s biggest real estate leaders-nearly all of whom, it turns out, are flying into Las Vegas later this week for the annual International Council of Shopping Centers RECon exposition-Auction.com has announced what the site describes as the “largest commercial real estate and note auction in U.S. history.”
Indeed, beginning tomorrow, Read More
The bank was just weeks away from taking over Murray Hill’s prized 1180 Sixth Avenue when a Chinese investor stepped in to save the tower.
“We got into a tight situation in that a mezz holder, the Shorenstein Group, bought the equivalent of the B-note,” said Norman Sturner, president and CEO of Murray Hill Properties, Read More
While some were predicting the death of commercial mortgage-backed securities as early as 2008, at least one conduit loan has recently turned up in hell, of all places-or, at least Hell’s Kitchen. The Meridian Capital Group, the commercial real estate finance and advisory firm, successfully negotiated a $6.55 million conduit loan on behalf of the Read More
Vornado Realty Trust, has completed a $425 million refinancing for Two Penn Plaza, the office tower atop Penn Station and Madison Square Garden.
The public office and retail investment trust, one of the city’s most prominent developers, announced the new seven-year loan in a press release, but it did not disclose the source. It said Read More
Milewise, a stealth-mode New York startup that, per Business Insider, aims to help consumers with their airline miles, has raised $1.5 million in debt and other financing, according to a filing with the Securities and Exchange Commission.
Listed on the form are co-founders Sanjay Kothari (formerly of Boston Consulting) and Vinay Pulim (previously Read More