Figs, an online medical apparel retail startup, is in lease negotiations for 26,118 square feet at the Santa Monica Gateway, a newly developed office complex at 2834 Colorado Avenue in Santa Monica, according to a release from CBRE, which is representing the tenant in the deal. The company will occupy almost the entire first floor,… Read More Medical Apparel Startup Taking 26K SF at Santa Monica Gateway

A joint venture between Related Fund Management and San Diego-based Cruzan has scooped up a Class-A office campus in Calabasas for $78.2 million, according to a release from Newmark Knight Frank, which represented the seller, Kilroy Realty Corporation, in the transaction. The 225,340-square-foot office property, Calabasas Park Centre, is located at 23925, 23975 and 24025… Read More Kilroy Realty Sells Calabasas Office Campus for $78.2M

Wells Fargo has contributed a $150 million mortgage to refinance an AvalonBay Communities‘ apartment building in West Chelsea, according to property records. The building, at 525 West 28th Street, is known as AVA High Line. AvalonBay developed the building but sold an 80 percent stake in the portfolio the building was part of to Invesco… Read More Wells Fargo Lends $150M in Chelsea Resi Refi

Developer HFZ Capital Group has purchased a NoMad building from its longtime owner for $18.6 million, city records show. HFZ picked up the mixed-use building at 18 West 30th Street from owner Jamak Realty in a deal that closed last month and appeared in public property records today. Jamak and a spokesman for HFZ did… Read More HFZ Capital Group Picks Up NoMad Building for Nearly $19M

Growing fitness chain Orangetheory Fitness will open up a new location on Prospect Park West in South Slope, Brooklyn, its first in the neighborhood, Commercial Observer has learned. Orangetheory has inked a 15-year lease for 3,600 square feet on the ground floor of the vacant, two-story 284 Prospect Park West between 17th and 18th Streets,… Read More Orangetheory Opening First South Slope Location

TF Cornerstone has sealed $516 million in financing from the New York City Department of Housing Preservation and Development for the construction of its mixed-use assemblage in the Hunters Point neighborhood of Long Island City, Queens, according to city records filed today. The debt, which closed on December 26, 2018, is split between two adjacent… Read More TF Cornerstone Nabs $516M Financing From HPD for LIC Assemblage [Updated]

Gov. Andrew Cuomo scrapped plans for a 15-month-long shutdown of the L train between Brooklyn and Manhattan and announced a new plan this afternoon that would limit L train service on nights and weekends for 15 to 20 months. After taking an impromptu late-night tour of the L train’s underwater tunnel last month, the governor… Read More Cuomo Cancels Full L Train Shutdown in Favor of Reduced Service

Metro-North Commuter Railroad will expand its offices in the Graybar Building by 17,756 square feet, Commercial Observer has learned. The commuter train line inked a 15-year deal at SL Green Realty Corp.’s 420 Lexington Avenue between East 43rd and East 45th Streets, bringing Metro-North’s total footprint in the building to 353,033 square feet, a spokesman… Read More Metro-North Ups Presence in Graybar Building by 18K SF

Freddie Mac notched $72.8 billion in multifamily-backed securities issuance in 2019, setting a yearly record, the agency announced today. That total represents a 7 percent increase over 2017’s $68 billion tally, punctuating a strong performance in a year that ended on a tepid note, under the specter of a nearly inverted yield curve and uncertainty… Read More Freddie Mac Issued $73B of Securities Last Year, Marking New High