Japanese fashion brand buys long-vacant Madison Avenue retail site

The Japanese fashion brand Adeam has purchased an Upper East Side retail site that has been vacant for more than a year. The company purchased the five-story townhouse at 770 Madison Avenue for $31 million from Galo Shoes, which had owned the building since at least 1981, according to property records. The building housed the trendy… Read More Japanese fashion brand buys long-vacant Madison Avenue retail site

Online Antique Marketplace 1stdibs Subleases 41K SF at Terminal Stores

1stdibs, an online antiques marketplace, has inked a deal to sublease 41,000 square feet at West Chelsea’s Terminal Stores for the company’s second Manhattan showroom, brokers for the deal confirmed to Commercial Observer. The company signed a four-year sublease from contract design and manufacturing firm Flextronics for the seventh-floor space in the warehouse complex at… Read More Online Antique Marketplace 1stdibs Subleases 41K SF at Terminal Stores

Joseph Chetrit’s townhouse sale is one of the largest such deals of the year

Developer Joseph Chetrit sold one of his three Upper East Side townhouses, marking one of the priciest townhouse deals to close so far this year. The property at 110 East 76th Street sold for a price in the low-$40 million range, the Wall Street Journal reported. It was originally asking $51 million. The largest of the trio, the house is 36 feet wide and measures 15,000 square feet. The design features marble, onyx and brass […]… Read More Joseph Chetrit’s townhouse sale is one of the largest such deals of the year

Status update: HUD accuses Facebook of discriminatory housing ads

The U.S. Department of Housing and Urban Development is taking aim at Facebook, claiming the social networking website enables landlords and homeowners to discriminate against users. HUD filed a complaint against Facebook on Friday, alleging that the social platform’s housing ads violate the Fair Housing Act. A major selling point of Facebook’s ads has been its ability to target specific users. That feature, however, allows landlords and others to exclude specific users from seeing the […]… Read More Status update: HUD accuses Facebook of discriminatory housing ads

Moinian just landed a loan on its Park Avenue South building

Moinian Group has secured a $55.3 million loan for 450-460 Park Avenue South. North American Company for Life and Health Insurance provided the loan on Murray Hill property, according to city records. The deal included $8.4 million in new debt. Representatives for Moinian and North American did not immediately respond to requests for comment. WeWork signed a lease in July to take roughly 50,000 square feet across six floors of the 12-story building. Other tenants include […]… Read More Moinian just landed a loan on its Park Avenue South building

Meet Michael Cohen’s brother, Bryan. He’s an Elliman executive with a $7M connection to Ukraine

Investigations by special counsel Robert Mueller and federal prosecutors in New York have thrust Michael Cohen into the spotlight. But while President Trump’s former “fixer” gets grilled over his personal business dealings, his brother Bryan, who shares his strong ties to Ukraine, has largely avoided the media’s glare. Bryan Cohen, seven years younger and also an attorney by trade, is the chief administrative officer of Douglas Elliman Development Marketing, the new development subsidiary of one […]… Read More Meet Michael Cohen’s brother, Bryan. He’s an Elliman executive with a $7M connection to Ukraine

WeWork Takes 75K SF at Brill Building in Tin Pan Alley

WeWork has nailed down a big lease at the Brill Building in Midtown. The coworking giant signed a 75,000-square-foot, 15-year lease in the landmarked building at 1619 Broadway at the corner of West 49th Street, according to The Real Deal. WeWork will occupy floors five, six, seven, 10 and 11 in the 11-story property once […]… Read More WeWork Takes 75K SF at Brill Building in Tin Pan Alley

BBVA Provides $37M Construction Loan for Florida Resi Project

A Florida developer has nabbed a $37.3 million construction loan from BBVA Compass to kick off work on a new multifamily project on the state’s Atlantic coast, Commercial Observer can exclusively report. A Colliers International brokerage team led by Jeffrey Donnelly and Dmitry Levkov arranged the financing, according to a Colliers spokesman. The lender, based […]… Read More BBVA Provides $37M Construction Loan for Florida Resi Project

Ares Management makes $100M multifamily buy in Westchester

Ares Management bought a 400-unit garden apartment complex in Westchester County for more than $100 million. The Los Angeles-based alternative assets manager paid $101.3 million to purchase the 418-unit Ridgeview Apartments at 32 Nob Hill Drive in Elmsford, sources told The Real Deal. The seller is Scarsdale-based investor Frank Palazzolo. Representatives for Ares Management and Palazzolo were not immediately available to comment. Aliza Avital-Caplan of Emerald Equities NYC brokered the off-market deal, and declined to […]… Read More Ares Management makes $100M multifamily buy in Westchester