Late last year, Ryan Freedman, the chairman and CEO of Corigin Holdings, played a big role in expanding the real estate and private equity firm’s New York metro platform—both launching a lending division and heavily investing in new assets. The young exec—“I’m younger than the average real estate CEO,” he said in declining to reveal Read More
Hot on the heels of RXR Realty’s purchase of the Starrett-Lehigh Building for $900 million and the sale of 111 Eighth Avenue to Google for $1.8 billion, Bed Bath & Beyond’s building is on the block.
A partnership of Joseph Chetrit and Yair Levy, spearheaded by Charles Dayan from Bonjour Capital, bought the building for $289.8 million in 2005, according to city records. But with the trendy Chelsea office market enjoying a boom, driven in no small part by the tech bubble, the building could sell for around $500 million, according to some sources. 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
Two weeks ago, this column addressed the state of the New York City multifamily market, and most of the statistics discussed pertained to the entire city-wide market. I received many e-mails and a few calls asking for the data to be broken down on a submarket-by-submarket basis, so here it is.
It is particularly 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
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
O.K., so it isn’t exactly a gem–at least not yet–but Mr. Barnett’s Extell has indeed pocketed another unremarkable property on 46th Street, between Fifth and Sixth avenues, in an apparent effort to move ahead with more development in the Diamond Distrisct.
In 2007 and 2008, Extell plucked a number such modest properties for its Diamond Read More
A stake in Ralph Lauren’s chichi emerald headquarters is up for grabs.
A 49 percent interest in 650 Madison Avenue, a trophy office tower just steps from the GM Building, is about to be put on the market, multiple industry sources told The Observer. The 500,000-square-foot building is valued at around $950 million, a source Read More
