Westchester & Fairfield Cheat Sheet: WWE body slams former Stamford HQ, Port Chester developer pleads guilty to tax charges… & more

WWE ditches ‘Titan Towers’ for new Stamford HQ Vince McMahon’s World Wresting Entertainment has signed a lease for 415,000 square feet of space in Stamford, The Real Deal reported Thursday. The massive lease signing at 677 Washington Boulevard will see the WWE say goodbye in early 2021 its current home at 1241 East Main Street,… Read More Westchester & Fairfield Cheat Sheet: WWE body slams former Stamford HQ, Port Chester developer pleads guilty to tax charges… & more

No kayfabe! WWE inks deal for massive new headquarters in Stamford

It’s not fake: The WWE is getting a Colosseum-sized office complex to serve as its new global headquarters in Stamford, Connecticut. The company inked a lease for 415,000 square feet at 677 Washington Boulevard. With the deal, the three-building complex is 72 percent leased, said George Comfort & Sons in a statement. The complex previously… Read More No kayfabe! WWE inks deal for massive new headquarters in Stamford

“The system is broken.” Real estate world clashes with NYC politicians at rent regulation panel

In the next two weeks, state lawmakers are expected to pass the most sweeping rent regulation reform package in decades. It has the city’s real estate industry pining for the slightly older days, when Michael Bloomberg held court at City Hall and the knives weren’t out for multifamily landlords. At a Thursday morning rent regulation… Read More “The system is broken.” Real estate world clashes with NYC politicians at rent regulation panel

Charlie Kushner fires back about family, business in op-ed

One day after a press conference was held outside 666 Fifth Avenue accusing his family’s real estate company of illegally operating eight buildings, Charlie Kushner penned an op-ed defending his family and his business. In a letter to the Washington Post, Kushner defends the companies investment in 666 Fifth Avenue — the over-leveraged tower where… Read More Charlie Kushner fires back about family, business in op-ed

Pediatric Urgent Care Center to Open First Bronx Location

PM Pediatrics, a pediatric urgent care center, signed a lease for 4,900 square feet at SD Urban Retail’s 5740 Broadway in the Kingsbridge section of the Bronx, Commercial Observer has learned. The location is part of a new 24,000-square-foot shopping center called The Shops on Broadway, between West 234th and West 236th Streets, according to… Read More Pediatric Urgent Care Center to Open First Bronx Location

Premier Equities Takes the Reins at Bankrupt Flatiron Hotel

Premier Equities has stepped in to save the Flatiron Hotel from bankruptcy, in exchange for ownership of half of the boutique hotel. The Flatiron Hotel’s owner, Jagdish (Jay) Vaswani, filed for Chapter 11 bankruptcy in the summer of 2018, and Premier offered to put up debtor-in-possession (DIP) financing, to stave off a foreclosure attempt by… Read More Premier Equities Takes the Reins at Bankrupt Flatiron Hotel

Bank OZK, Square Mile Back $735M Financing Package on $850M Chicago Project

Bank OZK has provided $475 million in construction financing and Square Mile Capital Management a $260 million structured investment—which includes preferred equity and mezzanine debt—for One Chicago Square, JDL Development and Wanxiang America Real Estate Group’s planned $850 million mixed-use project in Chi-Town, Commercial Observer has learned. Construction on the planned 76-story, 1.5 million-square-foot tower,… Read More Bank OZK, Square Mile Back $735M Financing Package on $850M Chicago Project

Diplomats say Manhattan property manager with history of fraud accusations misappropriated $115K

When they are not negotiating world politics, some diplomats housed at a commercial office building near the United Nations headquarters are going after a property manager who they claim fraudulently misappropriated their building funds. A condominium board representing the consulates of seven countries who own offices at 866 Second Avenue filed a lawsuit this week… Read More Diplomats say Manhattan property manager with history of fraud accusations misappropriated $115K

Mortgage giant Freddie Mac names new CEO amid privatization talks

Freddie Mac has promoted its president, David Brickman, to CEO, marking the company’s fourth leader since the financial crisis. Brickman will take over in July, replacing Donald Layton, who has been CEO since 2012 and plans to retire, according to the Wall Street Journal. Before he was named Freddie Mac’s president in September, Brickman was… Read More Mortgage giant Freddie Mac names new CEO amid privatization talks

OLR launches public listing portal to tackle “marginalization” of agents

As agents’ frustration with listings portals continue, On-Line Residential has launched a consumer-facing marketplace for residential listings. The website, dubbed Linecity, promises to give agents full control over their listings. “We’ve seen growing frustration with the digital landscape and the marginalization of the agent,” OLR President Jonathan Greenspan said in the statement. “With our deep… Read More OLR launches public listing portal to tackle “marginalization” of agents