Kronos Hotels, the hotel concern that so mismanaged the Crowne Plaza JFK that the InterContinental Hotels Group, the owner of the Crowne Plaza name, cut ties with the firm (the hotel has since been renamed JFK Plaza), hasn’t just wreaked havoc in Queens.
LancasterOnline.com has an in-depth story on Charles Morais and Read More
Si Newhouse is considering moving Condé Nast from Times Square to One World Trade Center, according to The New York Times:
According to real estate executives who requested anonymity because the talks are secret, the publisher would take up as much as one million square feet in what is planned to be the Read More
Dignity be damned! “As many as one in ten” congressmen may sleep in their D.C. offices rather than bother investing in D.C. real estate, according to a great article in The Chicago Tribune:
Quigley and other House members, who earn $174,000 a year, cite two reasons for taking advantage of this little-known perk. Read More
The Blackstone Group is suing downtown developer and renowned extinct-animal-pelt importer Tamir Sapir for defaulting on a huge loan for his downtown condominium the William Beaver House, according to The Real Deal:
The lawsuit alleges that as of November 2009 Sapir owed $48.7 million in interest, on top of the $66 Read More
Westbrook Partners, the private real estate investment concern headed that snapped up the Paramount Hotel and the Burberry Building during the boom, has returned to the New York real estate market.
The firm has bought the first mortgage backing St. Vincent’s 555 Avenue of the Americas, according to industry sources, in an apparent play for Read More
One Mad Madness
One Madison Park—the towering glass condominium on the southern edge of Madison Square Park that is mired in lawsuits and foreclosure proceedings—may get a helping hand from Cary Tamarkin, the developer of the wavy luxury condo at 456 West 19th Street near the High Line and the architect hired by Anderson Cooper to renovate Read More
SL Green, New York’s largest commercial landlord, has found some deep-pocketed funders north of the border.
The Canada Pension Plan Investment Board, which manages a staggering $123.9 billion in pension money, is SL Green’s joint investment partner in two of the three significant transactions annouced this morning (press release below).
SL Green is selling a Read More
The guys at SL Green must think the office market has hit bottom, because they are on an acquisition tear!
Bloomberg reports that SL Green is in contract to buy 125 Park Avenue from the California-based Shorenstein Properties for $330 million, or $554 a square foot. This comes just a month after SL Read More
Big Real Estate
Daily News owner and real estate mogul Mort Zuckerman is on the hunt.
Not only is Mr. Zuckerman, chairman of real estate concern Boston Properties, vying for a piece of the Freedom Tower (now known as One World Trade Center), but he’s also on the hunt for decidedly smaller prey, says the Read More
Did you know that underneath Kansas City, there is a 5 million-square-foot office and warehouse cavern, complete with two miles of railroad and six miles of road?
The Atlantic has a fascinating article this month on SubTropolis, the largest underground office complex in the world. It’s built into a maze of former limestone Read More