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DEAL MANAGEMENT PLATFORM DEALPATH RAISES $43M SERIES C – ROBERT KHODADADIAN

It may be tough times for proptech startups, but big-name real estate investors are lining up for a stake in this data management platform. Dealpath, a Blackstone-backed provider of deal-flow management and analytics software, raised $43 million in a Series C funding round led by Morgan Stanley, the startup announced Thursday. Existing investors in Dealpath who participated in the Series C include Blackstone, Nasdaq Ventures, JLL, GreenSoil PropTech Ventures and 8VC. The company did not Robert Khodadadian is an experienced commercial real estate broker in New York City and founder of Skyline PropertiesSkyline Properties specializes in off-market or … 

READ more“Deal management platform Dealpath raises $43M Series C – Robert Khodadadian

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ADAMS THROWS SUPPORT BEHIND CONTROVERSIAL BRONX REZONING – ROBERT KHODADADIAN

On a drizzly morning outside City Hall, Mayor Eric Adams gave a team of aspiring developers in Throggs Neck some sunny news. The mayor on Wednesday threw his support behind the Bruckner Boulevard rezoning, a proposal which would bring four developments with 349 apartments to the quiet corner of the Bronx. “This project is just right,” Adams said at a rally organized by the laborers union. “This is the right project for the right time.” Robert Khodadadian is an experienced commercial real estate broker in New York City and founder of Skyline PropertiesSkyline Properties specializes in off-market or … 

READ more“Adams throws support behind controversial Bronx rezoning – Robert Khodadadian

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REAL ESTATE LAWYERS: PROPOSED RENT REGS LACK LEGAL BASIS – ROBERT KHODADADIAN

Last week, the Hochul administration dropped a bomb on owners of rent-stabilized apartments, proposing four tenant-friendly regulations fill gaps in a three-year-old law. The headline change would cinch aloophole that allowed landlords to set new first rents on combined apartments. Merging units, coined “Frankenstein-ing” by The Real Deal, was — short of tearing down their buildings — the last route for owners to jack up stabilized rents since passage of the Housing Stability and Robert Khodadadian is an experienced commercial real estate broker in New York City and founder of Skyline PropertiesSkyline Properties specializes in off-market or … 

READ morereal estatelawyers: Proposed rent regs lack legal basis – Robert Khodadadian

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TWO LANDLORDS SAY THEY OVERCAME PANDEMIC, BUT LENDER BEGS TO DIFFER – ROBERT KHODADADIAN

Two and a half years later, Covid is still spitting out real estate casualties. The latest are Brooklyn-based investor Allen Stein and his lender, Customers Bank. Late last week, Customers sued Stein and his co-guarantor Leopold Schwimmer to foreclose on two Upper Manhattan rental buildings, claiming their nearly $12 million mortgage was in default. The borrowers on the mortgages at 517 West 180th Street and 570 West 182nd Street had tried to beat the Pennsylvania-based Robert Khodadadian is an experienced commercial real estate broker in New York City and founder of Skyline PropertiesSkyline Propertiesspecializes in off-market or … 

READ more“Two landlords say they overcame pandemic, but lender begs to differ – Robert Khodadadian

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HOW HAMID MOGHADAM MADE PROLOGIS THE WORLD’S LARGEST INDUSTRIAL LANDLORD – ROBERT KHODADADIAN

UPDATED Sept. 1, 2022, 6:45 p.m.: Fresh off a trip to Stanford, Hamid Moghadam was pulling up to his house in San Francisco’s tony Pacific Heights neighborhood when a car stopped right behind him.  Out jumped two men, armed with guns. They moved in on Moghadam, grabbed his Patek Philippe watch and fled. “They were attacking me,” Moghadam told the San Francisco Business Times. “It happened so fast that I didn’t have time to get Robert Khodadadian is an experienced commercial real estate broker in New York City and founder of Skyline PropertiesSkyline Properties specializes in off-market or … 

READ more“How Hamid Moghadam made Prologis the world’slargest industriallandlord – Robert Khodadadian

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SENIOR CUSHMAN EXECUTIVE TO DEPART – ROBERT KHODADADIAN

Cushman & Wakefield’s chief accounting officer is leaving the company, the latest C-suite shakeup at the world’s third-largest commercial brokerage. Len Texter will exit at the end of the month “in order to pursue a new opportunity,” according to a Thursday filing with the Securities and Exchange Commission. A representative for Cushman did not immediately respond to a request for comment. Texter, who also serves as Cushman’s head of investor relations and global controller, has Robert Khodadadian is an experienced commercial real estate broker in New York City and founder of Skyline PropertiesSkyline Properties specializes in off-market or … 

READ more“Senior Cushman executive to depart – Robert Khodadadian

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AMERICAN DREAM OWNER TRIPLE FIVE GROUP HIT WITH SEXUAL HARASSMENT SUIT – ROBERT KHODADADIAN

The American Dream mall has been sued by a former employee who claims she was sexually harrassed by executives and let go after reporting the incidents. In a lawsuit filed in New Jersey state court last week, former marketing staffer Kristen Kruczowy claims she was subjected to harassment by multiple male colleagues as well as a member of the Ghermezian family, the Canadian retail magnates who own the mall, NorthJersey.com reported. Kruczowy alleges she was Robert Khodadadian is an experienced commercial real estate broker in New York City and founder of Skyline PropertiesSkyline Properties specializes in off-market or … 

READ more“American Dream owner Triple Five Group hit with sexual harassment suit – Robert Khodadadian

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INDIANA DEVELOPER PLANS 420 APARTMENTS IN BRIDGEPORT – ROBERT KHODADADIAN

An Indianapolis-based multifamily developer is marking its entry into the Connecticut market with a $200 million apartment complex on the Bridgeport waterfront. Flaherty & Collins Properties said Tuesday that it will build a 420-unit mixed-use project with 10,000 square feet of commercial space in the city’s Steelpointe Harbor area. It’s developing the complex in partnership with RCI Group, a Bridgeport-based developerthat specializes in waterfront properties, and has a construction lender in place. Units will Robert Khodadadian is an experienced commercial real estate broker in New York City and founder of Skyline PropertiesSkyline Properties specializes in off-market or … 

READ more“Indiana developerplans 420 apartments in Bridgeport – Robert Khodadadian

FRENCH RETAILER PRINTEMPS TO OPEN FIRST U.S. STORE AT MACKLOWE’S 1 WALL STREET – ROBERT KHODADADIAN

Harry Macklowe’s One Wall Street is getting a touch of class — and a whiff of Paris. French luxury department store chain Printemps said Wednesday that it will open a 54,000-square-foot location at the landmarked Financial District building, its first in the U.S. Terms of the lease were not disclosed. Parisian architect and interior designer Laura Gonzalez will fashion the space, which will incorporate One Wall Street’s ground-floor Red Room, one of a handful of Robert Khodadadian is an experienced commercial real estate broker in New York City and founder of Skyline PropertiesSkyline Properties specializes in off-market or … 

READ more“French retailer Printemps to open first U.S. store at Macklowe’s1 Wall Street – Robert Khodadadian

SUNLIGHT BUYS ASTORIA DEVELOPMENT SITE FOR $25M, LEADING MIDSIZE I-SALES – ROBERT KHODADADIAN

New York City dealmakers went into the Labor Day weekend on a quieter note when it came to mid-market investment sales. Only six transactions involving commercial properties valued between $10 million and $40 million hit city records last week. Manhattan and the Bronx each had two deals, while Brooklyn and Queens had one apiece. Below is more information on each deal, ranked by dollar amount. 1. An entity connected to Sunlight Development bought a warehouse Robert Khodadadian is an experienced commercial real estate broker in New York City and founder of Skyline PropertiesSkyline Properties specializes in off-market or … 

READ MORE“SUNLIGHT BUYS ASTORIA DEVELOPMENT SITE FOR $25M, LEADING MIDSIZE i-sales – Robert Khodadadian

BEDFORD ESTATE OWNERS JOCKEY FOR $65M – ROBERT KHODADADIAN

Have a horse and $65 million sitting around? A Westchester County property could take care of that. Sunnyfield Farm in Bedford is asking roughly $304,000 per acre, of which there are 214 in all. The figure makes it the most expensive listing in the celebrity-adorned town, according to the Wall Street Journal. The property is best suited for a horse and pony show — literally. There are equestrian facilities throughout the property and multiple barns Robert Khodadadian is an experienced commercial real estate broker in New York City and founder of Skyline PropertiesSkyline Properties specializes in off-market or … 

READ more“Bedford estate owners jockey for $65M – Robert Khodadadian

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ROBERT KHODADADIAN – COMMERCIAL OBSERVER

Robert Khodadadian – Commercial Observer National security firm Peraton will move its global health and financial solutions headquarters from Northern Virginia to Bowie, Md., this fall., the company announced. The company has inked an 18,102-square-foot-lease at the Melford Town Center, a 466-acre mixed-use business community, with landlord St. John Properties. Peraton will occupy 16901 Melford Boulevard, afour-story, 150,000-square-foot office

National security firm Peraton will move its global health and financial solutions headquarters from Northern Virginia to Bowie, Md., this fall., the company announced.

The company has inked an 18,102-square-foot-lease at the Melford Town Centera 466-acre mixed-use business community, with landlord St. John Properties. Peraton will occupy 16901 Melford Boulevard, afour-story, 150,000-square-foot office building that was delivered in 2019. 

“The addition of Peraton is further validation that suburban office demand is still strong and that Melford continues to be the preferred centralized location for companies who want easy access to D.C., Baltimore and Annapolis,” Matt Lenihan, senior vice president, leasing for St. John Properties, told Commercial Observer.

Approximately 70 employees are slated to transfer to Bowie from the segment’s current home at 7575 Colshire Drive in Mclean, Va.

Located approximately 18 miles from BWI Airport and 25 miles from Baltimore and Washington, D.C., the new office provides convenient access to important customers such as the Internal Revenue Service, the Department of Health and Human Services, the Food and Drug Administration and the Department of Treasury, according to Peraton.

“The site is also complementary to our team in the Windsor Mill area of Baltimore County, which supports the Centers for Medicare & Medicaid Services and the Social Security Administration,” Tarik Reyes, president of Peraton’s global health and financial solutions sector, said in a prepared statement. 

St. John Properties has developed more than 1 million square feet at Melford Town Center, and it continues to grow. In addition to the 388-unit Aspen at Melford Town Center luxury apartment complex, which is scheduled to deliver next year, nearly 50,000 square feet of supporting retail and 90,000 square feet of commercial flex/R&D will be coming soon to the mixed-use community, according to St. John Properties. 

Bill Jautze of St. John Properties represented the landlord while Daniel Rasmussen of Cushman & Wakefield represented the client in the deal.

Keith Loria can be reached at Kloria@commercialobserver.com.

National security firm Peraton will move its global health and financial solutions headquarters from Northern Virginia to Bowie, Md., this fall., the company announced. The company has inked an 18,102-square-foot-lease at the Melford Town Center, a 466-acre mixed-use business community, with landlord St. John Properties. Peraton will occupy 16901 Melford Boulevard, a four-story, 150,000-square-foot officeRead MoreChannelLeasesoffice, 16901 Melford Boulevard, Bill Jautze, Cushman & Wakefield, Daniel Rasmussen, Matt Lenihan, Melford Town Center, Peraton, St. John Properties

Robert Khodadadianskyline propertiesground leases

For more information please visit http://www.skylineprp.com

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The development was built in 1975 at 9320 Telstar Avenue on nearly 8 acres in El Monte in the San Gabriel Valley, east of the city of Los Angeles.

SALES

 

 

LOS ANGELES 

Rising Realty Sells Mixed-Use Development in LA County

BY GREG CORNFIELD

The property, River’s Edge Apartments, was built in 2007 at 2088 East Lakeshore Drive in Lake Elsinore.

SALES

 

 

INLAND EMPIRE 

Atlantic Pacific Pays $65M for SoCal Multifamily Development

BY GREG CORNFIELD

1891 Metro Center Drive.

SALES  ·  COMMERCIAL

 

 

VIRGINIA 

Comstock Continues Growth in Reston Station

BY KEITH LORIA

SALES  ·  INDUSTRIAL

 

 

INLAND EMPIRE 

Curry and Ramen Distributor Buys Inland Empire Warehouse for $56M

BY GREG CORNFIELD

Quixote was founded in 1995 and has grown its business with 325 employees in Los Angeles, New York, Atlanta and New Orleans.

SALES

 

 

LOS ANGELES 

Hudson Pacific Buys Quixote Studios for $360M in Landmark Merger

BY GREG CORNFIELD

TRENDING STORIES

LEASES  ·  RETAIL

 

 

NEW YORK CITY 

French Department Store Printemps Opening First US Store at One Wall Street

DIVERSITY AND INCLUSION

 

 

NATIONAL 

How Are CRE Diversity Promises Holding Up?

SALES

 

 

LOS ANGELES 

Rising Realty Sells Mixed-Use Development in LA County

LEGAL

 

 

NEW YORK CITY 

Brooklyn Building Sellers Sue Meadow Partners for Allegedly Stiffing Them $2M

601 Mass. Ave.

SALES  ·  COMMERCIAL

 

 

WASHINGTON DC 

Japanese Firm Buys DC Office Building for $531 million, a 2022 Record

BY KEITH LORIA

The office at 621 Hawaii is fully leased to Nexon America.

SALES

 

 

LOS ANGELES 

BLT Enterprises Buys Video Game Developer’s Office in LA

BY GREG CORNFIELD

FINANCE  ·  SALES

 

 

NATIONAL 

Northmarq Acquires Stan Johnson Company, Expands Investment Sales Reach 

BY CATHY CUNNINGHAM

Both GLP and Clarion have built a significant presence in Southern California’s thriving industrial market.

SALES  ·  INDUSTRIAL

 

 

INLAND EMPIRE 

GLP Buys Logistics Site From Clarion Partners for $158M

BY GREG CORNFIELD

Midline at Reston Station.

SALES  ·  DEVELOPMENT RIGHTS

 

 

WASHINGTON DC 

Comstock Expands Reston Station Portfolio

BY KEITH LORIA

The warehouse at 30-55 Vernon Boulevard.

SALES

 

 

NEW YORK CITY 

Sunlight Development Nabs Astoria Site for $25M to Build Condo

BY CELIA YOUNG

Aerial shot of Miami Worldcenter.

FINANCE  ·  SALES

 

 

FLORIDA 

Lynd Living Buys Site at Miami Worldcenter

BY JULIA ECHIKSON

Adam Neumann in New York City in 2018.

SALES  ·  TECHNOLOGY

 

 

NATIONAL 

Adam Neumann’s Flow Might Solve At Least One Housing Problem

BY PATRICK SISSON

The Lot at Formosa spans 11 acres at 1041 North Formosa Avenue.

SALES

 

 

LOS ANGELES 

Hollywood Complex Leased to HBO and Showtime Hits the Market

BY GREG CORNFIELD

The short, residential building at 358-376-Livingston-Street.

SALES  ·  DEVELOPMENT RIGHTS

 

 

NEW YORK CITY 

Goose Property Management Takes Brooklyn Development Site for $25M

BY CELIA YOUNG

328 Minorca Avenue.

SALES  ·  COMMERCIAL

 

 

FLORIDA 

Law Firm Zumpano Patricios To Double Coral Gables HQ

BY JULIA ECHIKSON

Metro 3610 Apartments

SALES

 

 

INLAND EMPIRE 

Blackstone Unloads 304 Units in SoCal for $204M

BY GREG CORNFIELD

Rendering of proposed data center campus.

SALES  ·   DEVELOPMENT

 

 

WASHINGTON DC

Amazon Wants to Build a Data Center Campus in NoVA

BY KEITH LORIA

The portfolio includes the 44-unit Azusan Apartments at 1345 North San Gabriel Avenue; the 36-unit Riviera Apartments at 1381 North San Gabriel Canyon Road; and the 36-unit Palm View Apartments at 1311 North Azusa Avenue.

SALES  ·   RESIDENTIAL

 

 

LOS ANGELES

Paladin Realty Buys Multifamily Portfolio in SoCal

BY GREG CORNFIELD

The short red brick building at 163 First Avenue.

SALES  ·   MIXED USE

 

 

NEW YORK CITY

Davean Holdings Nabs East Village Apartment Portfolio for $26M

BY CELIA YOUNG

A 669-unit block in Los Angeles’ Baldwin Hills.

FINANCE  ·   SALES

 

 

LOS ANGELES

Avanath Secures $121M Fannie Mae Loan for 669 Units in LA

BY GREG CORNFIELD

5555 San Felipe Street, Houston

FINANCE  ·   SALES

 

 

NATIONAL

Avison Young Adds 20 MSF to Management Portfolio with Madison Marquette Deal

BY MARK HALLUM

A2 Biotherapeutics signed an 11-year lease for 76,000 square feet for its new global headquarters at 30601 Agoura Road.

SALES  ·   LIFE SCIENCES

 

 

LOS ANGELES

Harbor Associates JV Acquires 119K-SF Lab Conversion in Greater LA

BY GREG CORNFIELD

20 NE 41st Street.

SALES  ·   COMMERCIAL

 

 

FLORIDA

Fogo de Chão Founder Buys Design District Site to Develop Luxe Restaurant

BY JULIA ECHIKSON

A warehouse.

SALES  ·   INDUSTRIAL

 

 

WASHINGTON DC

Aminim Group Adds Six DC/Baltimore Industrial Properties to Portfolio

BY KEITH LORIA

Best Buy.

SALES

 

 

INLAND EMPIRE

Best Buy and Thrift Store Sell for $39M in SoCal

BY GREG CORNFIELD

A view of the Equinox Hotel at the Hudson Yards.

SALES  ·   COMMERCIAL

 

 

NEW YORK CITY

Related Reportedly Looking to Offload Equinox Hotel

BY MARK HALLUM

Jeffrey Soffer speaks at the Russell Simmons Rush Philanthropic Arts Foundation Art For Life

SALES  ·   RESIDENTIAL

 

 

FLORIDA

Jeff Soffer’s Fontainebleau Dev Buys Out Oceanfront Condo in Tequesta

BY JULIA ECHIKSON

The three-story complex called The Village on 5th was built in 2005 at 9400 Fairway View Place.

SALES  ·   RESIDENTIAL

 

 

INLAND EMPIRE

Greystar Pays $97M for Inland Empire Housing Community

BY GREG CORNFIELD

10900 Hopewell Road

SALES  ·   INDUSTRIAL

 

 

MARYLAND

Baltimore Industrial Market Remains Tight Despite Economic Volatility

BY KEITH LORIA

The residential apartment building 2718 Frederick Douglass Boulevard.

SALES  ·   MIXED USE

 

 

NEW YORK CITY

KLM Equities Sells Mixed-Use Harlem Portfolio to Elysee Investments for $32M

BY CELIA YOUNG

Dedeaux’s preliminary plan includes developing another truck terminal.

SALES  ·   LAND

 

 

INLAND EMPIRE

Dedeaux Pays $4.7M Per Acre for Industrial Land in SoCal

BY GREG CORNFIELD

One of the Long Island industrial assets.

SALES  ·   COMMERCIAL

 

 

NEW YORK

Sherwood Equities Sells Long Island Industrial Portfolio for $76M

BY CATHY CUNNINGHAM

Northrop Grumman at 21700 Atlantic Boulevard.

SALES  ·   COMMERCIAL

 

 

WASHINGTON DC

GI Partners Acquires Defense Portfolio in NoVA for $220M

BY KEITH LORIA

Multifamily sales like 17 West 125th Street have been the largest category of commercial property sales nationwide.

SALES  ·   ANALYSIS

 

 

NEW YORK CITY

Commercial Real Estate Sales Grow 10 Percent Nationwide

BY REBECCA BAIRD-REMBA

Rail 71.

SALES  ·   COMMERCIAL

 

 

FLORIDA

Mixed-use Building in Miami’s Little River Asks $39M

BY JULIA ECHIKSON

Palomar Health Rehabilitation Institute at 2181 Citracado Parkway in Escondido, Calif.

FINANCE  ·   SALES

 

 

CALIFORNIA

Sila Realty Acquires San Diego-Area Medical Facility for $63M

BY MARK HALLUM

Wright Apartments.

SALES  ·   RESIDENTIAL

 

 

VIRGINIA

Ritz Banc Acquires Two Winchester Rentals for $24M

BY KEITH LORIA

A rendering of Siesta Lakes.

SALES  ·   LAND

 

 

SOUTH FLORIDA

Industry Vets From CIM and Slate Launch Shoreham Capital With Florida Acquisition 

BY CATHY CUNNINGHAM

Workers on forklifts move inventory.

SALES  ·   INDUSTRIAL

 

 

INLAND EMPIRE

Staley Point and Bain Capital Expand in SoCal’s Industrial Market

BY GREG CORNFIELD

A Sedano's Supermarket in Miami.

SALES  ·   COMMERCIAL

 

 

FLORIDA

Longpoint Partners pays $44M for a Sedano’s-Anchored Mall in Suburban Miami

BY JULIA ECHIKSON

PREMIUM

Ken Griffin, founder and CEO of Citadel.

SALES  ·   DEVELOPMENT RIGHTS

 

 

FLORIDA

Ytech Flips Brickell Parcel to Citadel a Month After Purchase for $9M Gain

BY JULIA ECHIKSON

PREMIUM

Tricera Capital and LNDMRK Development's office property, located at 222 NW 24th street.

SALES  ·   COMMERCIAL

 

 

FLORIDA

Tricera and Lndmrk Selling Cube Wynwd Office Building for $60M

BY JULIA ECHIKSON

PREMIUM

71 North 7th Street.

SALES  ·   MIXED USE

 

 

NEW YORK CITY

Largo Investments Sells Recently Developed Williamsburg Office for $24M

BY CELIA YOUNG

PREMIUM

Oakmont of Segovia, a 160-unit facility in Palm Desert

SALES  ·   RESIDENTIAL

 

 

CALIFORNIA

Senior Living Center Sells for $49M in Calif.’s Coachella Valley

BY GREG CORNFIELD

PREMIUM

Talbots store inside The Shops at Pembroke Gardens.

SALES  ·   COMMERCIAL

 

 

FLORIDA

Federal Realty Pays $181M For Discounted Pembroke Pines Mall

BY JULIA ECHIKSON

PREMIUM

SALES  ·   COMMERCIAL

 

 

MARYLAND

Boundary Ventures Acquires Cecil County Self-Storage Portfolio in $19M Deal

BY KEITH LORIA

PREMIUM

Duke Realty

SALES  ·   INDUSTRIAL

 

 

CALIFORNIA

Duke Realty Adds SoCal Development Site for $77M

BY GREG CORNFIELD

PREMIUM

SALES  ·   RESIDENTIAL

 

 

MARYLAND

Frederick Apartment Community Commands $85M

BY KEITH LORIA

PREMIUM

A Jaguar hood ornament sits on a Jaguar vehicle at a Jaguar/Land Rover dealership March 26, 2008. Michigan. Ford Motor Company announced it had entered into a definitive agreement to sell its Jaguar Land Rover operations to India-based Tata Motors for $2.3 billion. (Photo by Bill Pugliano/Getty Images)

SALES  ·   COMMERCIAL

 

 

NEW YORK CITY

Capital Automotive Buys Luxury Coney Island Car Dealership Site for $54M

BY CELIA YOUNG

PREMIUM

The Carnival Airship flies over the Queen Mary, top, and the cruise ship Carnival Imagination, bottom, in Long Beach.

SALES

 

 

LOS ANGELES

HGI Pays $180M for Long Beach Multifamily Portfolio

BY GREG CORNFIELD

PREMIUM

Aerial shot of Boca Raton.

SALES  ·   RESIDENTIAL

 

 

FLORIDA

Rockpoint Sells Miramar Rentals for $295M in Latest South Florida Divestment

BY JULIA ECHIKSON

PREMIUM

SALES

 

 

NEW YORK CITY

Related Fund Management Snaps Up LIC Mixed-Use Building for $61M

BY CATHY CUNNINGHAM

PREMIUM

Multifamily sales like 17 West 125th Street have been the largest category of commercial property sales nationwide.

SALES  ·   MIXED USE

 

 

NEW YORK CITY

Denali Management Buys 17 West 125th Street From Thor for $21M

BY CELIA YOUNG

PREMIUM

The fully leased buildings at 6027 and 6000-6052 Bandini Boulevard sold for approximately $500 per square foot.

SALES  ·   INDUSTRIAL

 

 

LOS ANGELES

Add Another $92M to Rexford’s Running Industrial Tally

BY GREG CORNFIELD

PREMIUM

Students make their way between classes on the University of Southern California Los Angeles campus.

SALES

 

 

LOS ANGELES

Champion to Buy Student Housing With Multifamily Proceeds

BY GREG CORNFIELD

PREMIUM

Sebastian Rivas of Andes STR.

FINANCE  ·   SALES

 

 

NATIONAL

Sebastian Rivas Taking the Headache Out of Short-Term Rental Investments

BY MARK HALLUM

PREMIUM

7799 Leesburg Pike.

SALES  ·   COMMERCIAL

 

 

VIRGINIA

Lerner Enterprises Sells Twin Office Buildings in Tysons for $49M

BY KEITH LORIA

PREMIUM

Boston Properties' Salesforce Tower in San Francisco.

SALES  ·   COMMERCIAL

 

 

NEW YORK CITY

Boston Properties: Watchful of Economic Decline, Confident Portfolio Will Prevail

BY MARK HALLUM

PREMIUM

Aventura View.

SALES  ·   DEVELOPMENT RIGHTS

 

 

FLORIDA

Related and BH Group Buy Aventura Office With Plans for Mixed-Use Expansion

BY JULIA ECHIKSON

PREMIUM

'Dancing Boy,' a sculpture by Brazilian artist Romero Britto in Miami's Midtown in Miami.

SALES  ·   COMMERCIAL

 

 

FLORIDA

R&B Realty Owners Sells Midtown Miami Retail Building for $4.5M

BY JULIA ECHIKSON

PREMIUM

12101 Tech Road.

SALES  ·   COMMERCIAL

 

 

MARYLAND

Silver Spring Flex Building Changes Hands in $13M Deal

BY KEITH LORIA

PREMIUM

Portrait of Lisa DeNight

LEASES  ·   SALES

 

 

NEW YORK CITY

Newmark’s Lisa DeNight On the Coming End of Industrial’s Hot Streak

BY DAVID M. LEVITT

PREMIUM

The four-story nursing home at 660 Louisiana Avenue in Brooklyn.

SALES  ·   COMMERCIAL

 

 

NEW YORK CITY

Marx Development Group Sells Brooklyn Nursing Home for $40M

BY CELIA YOUNG

PREMIUM

Jared Villarreal loads boxes into a trailer of a truck to be shipped out at Amazon's fulfillment center.

LEASES  ·   SALES

 

 

LOS ANGELES

LA Is Out of Warehouse Space

BY GREG CORNFIELD

PREMIUM

The Residences at Annapolis Junction.

SALES  ·   RESIDENTIAL

 

 

WASHINGTON DC

Annapolis Apartments Command $150M

BY KEITH LORIA

PREMIUM

Brooklyn.

SALES  ·   COMMERCIAL

 

 

NEW YORK CITY

Invesco Real Estate Buys Self-Storage Building in Brooklyn for $44M

BY CELIA YOUNG

PREMIUM

Nearly 160 million square feet of new industrial space was completed in the first six months of the year, but at 4.6 percent, the national vacancy rate still fell 120 basis points compared to June 2021.

LEASES  ·   SALES

 

 

NATIONAL

US Industrial Sales Near $40B in 2022

BY GREG CORNFIELD

PREMIUM

Brickell city skyline.

SALES  ·   RESIDENTIAL

 

 

FLORIDA

HGI Drops $185M For Brickell Rental Building

BY JULIA ECHIKSON

PREMIUM

Rexford executives said the company also has more than $500 million of additional investments under contract or accepted offer.

LEASES  ·   SALES

 

 

LOS ANGELES

How Long Will Rexford’s Buying Spree Last?

BY GREG CORNFIELD

PREMIUM

6704 Curtis Court.

SALES  ·   INDUSTRIAL

 

 

MARYLAND

Faropoint Purchases Glen Burnie Industrial Building in $10M Deal

BY KEITH LORIA

PREMIUM

Grosvenor Tower.

SALES  ·   RESIDENTIAL

 

 

MARYLAND

Grosvenor Acquires Net Zero-Aimed Bethesda Multifamily for $95M

BY KEITH LORIA

PREMIUM

Riverside Square.

SALES  ·   COMMERCIAL

 

 

WASHINGTON DC

Monument Realty Sells Portion of Ashburn’s Riverside Square

BY KEITH LORIA

PREMIUM

The largest of the seven deals includes a 1.06 million-square-foot complex in the city of Eastvale in the Inland Empire.

SALES  ·   INDUSTRIAL

 

 

LOS ANGELES

Rexford Pays $661M for Seven More Warehouses

BY GREG CORNFIELD

PREMIUM

The tall glass tower at 1330 Avenue of the Americas.

SALES  ·   COMMERCIAL

 

 

NEW YORK CITY

Empire Capital Holdings Buying 1330 Avenue of the Americas for $325M

BY CELIA YOUNG

PREMIUM

4700 Riverstone Drive.

SALES  ·   RESIDENTIAL

 

 

MARYLAND

Carter Funds Acquires Riverstone at Owings Mills in $93M Deal

BY KEITH LORIA

PREMIUM

Verona at Landover Hills.

FINANCE  ·   SALES

 

 

MARYLAND

Dantes Buys Maryland Affordable Housing Complex for $139M

BY KEITH LORIA

PREMIUM

portrait of Alan Mruvka

LEASES  ·   SALES

 

 

NEW YORK CITY

Alan Mruvka On His E! Past and StorageBlue Future

BY ANDREW COEN

PREMIUM

Plaza Mexico spans nearly 33 acres at 3100 East Imperial Highway.

SALES  ·   COMMERCIAL

 

 

LOS ANGELES

Sterling Organization Buys LA Retail Center for $165M

BY GREG CORNFIELD

PREMIUM

151 Worth Avenue.

SALES  ·   COMMERCIAL

 

 

FLORIDA

Ken Griffin’s Citadel Adds Palm Beach Office to South Florida Takeover

BY JULIA ECHIKSON

PREMIUM

A cluster of tall buildings.

SALES  ·   COLUMNISTS

 

 

NEW YORK CITY

May You Buy and Sell Manhattan Buildings in Interesting Times

BY ROBERT KNAKAL

PREMIUM

160 Riverside Boulevard.

SALES

 

 

NEW YORK CITY

A&E Real Estate Buys 160 Riverside Boulevard for $415M

BY CATHY CUNNINGHAM

PREMIUM

Shoppes Arts District in Hyattsville.

SALES  ·   COMMERCIAL

 

 

VIRGINIA

Klein Enterprises Acquires 9 Shopping Centers in $130M Deal

BY KEITH LORIA

PREMIUM

Research Square.

SALES  ·   COMMERCIAL

 

 

WASHINGTON DC

Altus Realty Acquires Pair of Rockville Office Buildings for $26M

BY KEITH LORIA

PREMIUM

The rooftop of the Evo.

SALES  ·   RESIDENTIAL

 

 

VIRGINIA

Cortland Adds Rosslyn Multifamily Asset in $1B NoVA Strategy

BY KEITH LORIA

PREMIUM

The Vue Los Feliz is at 1800 North New Hampshire Avenue in the neighborhood between Hollywood and Silver Lake.

SALES

 

 

LOS ANGELES

Alliance Residential Adds 134-Unit Property in LA

BY GREG CORNFIELD

PREMIUM

Mary Village Brickell.

SALES  ·   COMMERCIAL

 

 

FLORIDA

Rockpoint Sells The Shops at Mary Brickell Village for $216M

BY JULIA ECHIKSON

PREMIUM

95 Morton Street

SALES  ·   COMMERCIAL

 

 

NEW YORK CITY

RFR Sells 95 Morton to Meadow Partners for $288M

BY CELIA YOUNG

PREMIUM

The storage space for the world’s largest brewing company is at 12065 Pike Street in Santa Fe Springs.

SALES

 

 

LOS ANGELES

On Tap: Anheuser-Busch Site Sells for $85M in Los Angeles

BY GREG CORNFIELD

PREMIUM

Owen Thomas, CEO of Boston Properties, at the Hugh food court in 601 Lexington Avenue.

LEASES  ·   SALES

 

 

WASHINGTON

Boston Properties’ Owen Thomas Doesn’t Fear Work From Home

BY DAVID M. LEVITT

PREMIUM

Tesla's gigafactory in Sparks, Nev., underscores the growth of tech and tech-related industries in the Reno area.

LEASES  ·   SALES

 

 

NEVADA

How Reno Bet on Tech to Enliven ‘the Most Depressing Place on Earth’

BY PATRICK SISSON

PREMIUM

8918 W Atlantic Avenue.

SALES  ·   COMMERCIAL

 

 

FLORIDA

River Oaks Buys Delray Beach Strip Mall for $26M

BY JULIA ECHIKSON

PREMIUM

An upwards view towards the tops of several skyscrapers in New York City backed by a cloudy grey sky.

SALES

 

 

NATIONAL

Nationwide CRE Prices Fall 5% Since March: Report

BY JULIA ECHIKSON

PREMIUM

Long Island City Waterfront.

SALES  ·   HOTELS

 

 

NEW YORK CITY

Health Care Exec Daryl Hagler Buys Teddy Li’s Long Island City Hotel Site for $63M

BY CELIA YOUNG

PREMIUM

5680 King Centre Drive.

SALES  ·   COMMERCIAL

 

 

VIRGINIA

Oldest Bank in Virginia Acquires Alexandria Building to Consolidate Workforce

BY KEITH LORIA

PREMIUM

6300 Providence Way, Eastvale, Calif.

FINANCE  ·   SALES

 

 

INLAND EMPIRE

KKR Acquires Inland Empire Warehouse on Trucking Route for $137M

BY MARK HALLUM

PREMIUM

New York hotels such as the Hotel Riu Plaza Manhattan Times Square are benefitting from a tourism increase, but are still awaiting a fuller return of business travel.

SALES  ·   FEATURES

 

 

NEW YORK CITY

New York City’s Hotels Are Coming Back From the Pandemic

BY EMILY FU

PREMIUM

Recently launched Langdon Park Capital (LPC) is planting its flag in Los Angeles.

SALES  ·   RESIDENTIAL

 

 

LOS ANGELES

Langdon Park Adds 200 Housing Units in LA

BY GREG CORNFIELD

PREMIUM

Occupancy rates for senior housing properties around the country have been rebounding from the pandemic lows of 2020.

FINANCE  ·   SALES

 

 

LOS ANGELES

Jonathan Rose Cos. Adds More Senior Housing in SoCal

BY GREG CORNFIELD

PREMIUM

The Flats at Ballantyne in Charlotte, N.C.

SALES  ·   INDUSTRY

 

 

WASHINGTON DC

CRC and Brown Advisory Raise $146M Fund for Multifamily Investments

BY KEITH LORIA

PREMIUM

An external view of a Public Storage location in Los Angelas.

SALES  ·   COMMERCIAL

 

 

NEW YORK CITY

Carlyle Group Buys Long Island City Self-Storage Facility for $80M

BY CELIA YOUNG

PREMIUM

255 Rockville Pike.

SALES  ·   COMMERCIAL

 

 

MARYLAND

Distressed Rockville Office Building Hits the Market, Ripe for Conversion

BY KEITH LORIA

PREMIUM

Soleste Grand Central.

SALES  ·   RESIDENTIAL

 

 

FLORIDA

Estate Cos. Sells Overtown Rental for $181M

BY JULIA ECHIKSON

PREMIUM

First Apartmetns.

SALES  ·   RESIDENTIAL

 

 

FLORIDA

Premium Sells New Little Havana Apartment Complex for $92M

BY CHAVA GOURARIE

PREMIUM

Yoann Hispa.

SALES  ·   TECHNOLOGY

 

 

NATIONAL

LandGate’s Yoann Hispa: Renewables Are Driving Sales of Land Resources

BY PHILIP RUSSO

PREMIUM

Jonathan Bennett in his office at 250 Broadway.

LEASES  ·   SALES

 

 

NEW YORK CITY

AmTrust President Jonathan Bennett On Modernizing the Company

BY CELIA YOUNG

PREMIUM

The DoubleTree by Hilton hotel in Campbell, Calif.

SALES  ·   ANALYSIS

 

 

NATIONAL

97 Percent of U.S. Hotels Are Short-Staffed

BY REBECCA BAIRD-REMBA

PREMIUM

Miami Tower.

SALES  ·   COMMERCIAL

 

 

FLORIDA

CP Group and DRA Advisors Buy Iconic Miami Tower For $163M

BY JULIA ECHIKSON

PREMIUM

LEASES  ·   SALES

 

 

NEW YORK CITY

Brooklyn Looks Immune to Wider Industrial Market Uncertainty

BY DAN MARKS

PREMIUM

Clive Daniel Home's Boca Raton location.

SALES  ·   COMMERCIAL

 

 

FLORIDA

Becker Organization Pays $18M For Boca Raton Furniture Store

BY JULIA ECHIKSON

PREMIUM

Seneca at Southern Highlands
Las Vegas, NV
Bridge & Equity Financing: $26,298,388
Units: 50

FINANCE  ·   SALES

 

 

NEW YORK CITY

CBRE Completes $330M Acquisition of Red Hook Amazon Facility

BY MARK HALLUM

PREMIUM

Redwood Plaza.

SALES  ·   COMMERCIAL

 

 

WASHINGTON DC

Network Realty Acquires Three-Building Fairfax Office Complex

BY KEITH LORIA

PREMIUM

1 Washington Circle Hotel.

SALES  ·   HOTELS

 

 

WASHINGTON DC

One Washington Circle Hotel Changes Hands in $49M Deal

BY KEITH LORIA

PREMIUM

The four buildings are at 17875-17877 Von Karman Avenue and 17838 and 17872 Gillette Avenue in the Orange County Airport Area submarket.

FINANCE  ·   SALES

 

 

CALIFORNIA

Hines Sells Trophy SoCal Office Campus for $235M

BY GREG CORNFIELD

PREMIUM

1221 Brickell.

SALES  ·   COMMERCIAL

 

 

FLORIDA

Financial Heavyweight Citadel Behind Record-Breaking Brickell Deals

BY JULIA ECHIKSON

PREMIUM

600 South Caroline Street.

SALES  ·   COMMERCIAL

 

 

MARYLAND

Baltimore Warehouse to Be Converted to Apartments

BY KEITH LORIA

PREMIUM

DESIGN + CONSTRUCTION  ·   SALES

 

 

NEW YORK CITY

How the Radio Hotel in Washington Heights Snapped Together

BY REBECCA BAIRD-REMBA

PREMIUM

551 SE 8th Street and 551 SE 5th Avenue, Delray Beach.

SALES  ·   COMMERCIAL

 

 

FLORIDA

Billionaire Carl DeSantis Pays $25M for Delray Beach Commercial Complex

BY JULIA ECHIKSON

PREMIUM

Located at 606 Fayetteville Street and 401 East Lakewood Avenue, it’s the largest development site in downtown Durham.

SALES

 

 

NORTH CAROLINA

Sterling Bay Buys Major Development in Durham

BY GREG CORNFIELD

PREMIUM

33 Alhambra.

SALES  ·   LAND

 

 

FLORIDA

MG Developer Buys Coral Gables Dev Site From Hollo Family

BY JULIA ECHIKSON

PREMIUM

555 Aviation Boulevard.

FINANCE  ·   SALES

 

 

LOS ANGELES

Tishman Speyer Sells LA Office for $206M

BY GREG CORNFIELD

PREMIUM

Gaitherstowne Plaza.

SALES  ·   COMMERCIAL

 

 

MARYLAND

Gaithersburg Retail Center Trades for $25M

BY KEITH LORIA

PREMIUM

Linden Pointe.

SALES  ·   RESIDENTIAL

 

 

FLORIDA

Harbor Group Sells Pompano Beach Apartment Complex for $96M

BY JULIA ECHIKSON

PREMIUM

1221 Brickell.

SALES  ·   COMMERCIAL

 

 

FLORIDA

Rockpoint Sells Brickell Office Tower for $287M in Largest Post-COVID Deal in Miami

BY JULIA ECHIKSON

PREMIUM

1900 N Street

SALES

 

 

WASHINGTON DC

Why German Investment Firm Commerz Real Reeled in a DC Trophy Office

BY DAVID NUSBAUM

PREMIUM

Ashbury Courts.

SALES  ·   MIXED USE

 

 

MARYLAND

Laurel Apartments Change Hands in $35M Deal

BY KEITH LORIA

PREMIUM

“In the last 12 months, rents have increased by 13.3 percent in Upland, and average occupancy has been 97 percent,” IPA’s Martin Zorbas said.

SALES

 

 

INLAND EMPIRE

SoCal Apartment Complex Sells for $82M

BY GREG CORNFIELD

PREMIUM

1695 Faraday Avenue.

SALES  ·   COMMERCIAL

 

 

NATIONAL

LPC West, Angelo Gordon Acquire 63K-SF Life Sciences Conversion in Carlsbad

BY MARK HALLUM

PREMIUM

The co-CEOs of Rexford said Southern California is “the nation's most desirable industrial market with occupancy levels at essentially full capacity and an incurable supply-demand imbalance."

SALES

 

 

LOS ANGELES

LA’s Rexford Nears $1B in 2022 Acquisitions

BY GREG CORNFIELD

PREMIUM

The Center Building at 33-00 Northern Blvd. in Long Island City, Queens.

FINANCE  ·   SALES

 

 

NEW YORK CITY

Apollo Lends $170M on 60 Guilders’ Acquisition of 3300 Northern Boulevard in LIC

BY CATHY CUNNINGHAM

PREMIUM

Tiffany and Shops is fully leased on a half-acre parcel at 64-68 West Colorado Boulevard.

SALES

 

 

LOS ANGELES

Retail Shops Sell at Record Price in Pasadena

BY GREG CORNFIELD

PREMIUM

DESIGN + CONSTRUCTION  ·   SALES

 

 

WASHINGTON

The Skyscrapers of Boise

BY PATRICK SISSON

PREMIUM

The top listing for the Los Angeles Market is 100 Wilshire in Santa Monica at $108 per square foot.

SALES

 

 

NATIONAL

US Office Sales Cross $35B for the Year

BY GREG CORNFIELD

PREMIUM

Hampton Inn by Hilton at The Continental in Miami Beach.

SALES  ·   HOTELS

 

 

FLORIDA

Pebb Sells Historic Miami Beach Hotel for $44M

BY JULIA ECHIKSON

PREMIUM

(Standing) State Sens. Liz Krueger and Thomas O'Mara.

DESIGN + CONSTRUCTION  ·   SALES

 

 

NEW YORK CITY

New York’s 421a Tax Abatement Is Dead. Now What?

BY AARON SHORT

PREMIUM

The Line Charlotte

SALES

 

 

NATIONAL

A $206M Charlotte Office Deal Underscores What Neighborhoods Mean to Asset Value

BY DAVID NUSBAUM

PREMIUM

Springfield data center portfolio.

SALES  ·   COMMERCIAL

 

 

WASHINGTON DC

Finmarc Acquires 11-Building Portfolio in Springfield for $128M

BY KEITH LORIA

PREMIUM

VIVA Luxury Apartments.

SALES  ·   RESIDENTIAL

 

 

FLORIDA

JSB Capital Group Buys Broward Multifamily Complex for $150M

BY JULIA ECHIKSON

PREMIUM

The small brown townhouse at 15 East 88th Street.

SALES  ·   RESIDENTIAL

 

 

NEW YORK CITY

Saint David’s School Snags UES Townhouse for $27M

BY CELIA YOUNG

PREMIUM

Langdon Park Apartments.

SALES  ·   PLAYERS

 

 

WASHINGTON DC

Langdon Park Capital Acquires Fort Washington Apartments in $63M Deal

BY KEITH LORIA

PREMIUM

AC Hotel by Marriott & Element Miami Brickell.

SALES  ·   HOTELS

 

 

FLORIDA

Summit Hotel Properties Buys Majority Stake in Brickell Hotel

BY JULIA ECHIKSON

PREMIUM

A rendering of 260 Gold Street.

SALES  ·   RESIDENTIAL

 

 

NEW YORK CITY

KKR, Dalan Management Finally Close on 260 Gold Street for $225 Million

BY CELIA YOUNG

PREMIUM

One Preserve.

SALES  ·   COMMERCIAL

 

 

WASHINGTON DC

Longfellow Enters Maryland With  Lab Conversion in Rockville

BY KEITH LORIA

PREMIUM

101 North Ripley Apartments.

SALES  ·   RESIDENTIAL

 

 

VIRGINIA

Willow Creek Partners Acquire Alexandria, Va., Apartments for $50M

BY KEITH LORIA

PREMIUM

Mosaic at Miramar Town Center.

SALES  ·   RESIDENTIAL

 

 

FLORIDA

American Landmark Apartments Drops $200M for Broward County Multifamily Complex

BY JULIA ECHIKSON

PREMIUM

PMG's project.

SALES  ·   DEVELOPMENT

 

 

FLORIDA

PMG Plans Massive Resi Complex in Miami’s Brickell After $58M Land Buy

BY JULIA ECHIKSON

PREMIUM

The new owner plans to complete upgrades at ReNew Mills at 551 East Riverside Drive

SALES

 

 

INLAND EMPIRE

Interwest Cashes Out on Inland Empire Apartment Community

BY GREG CORNFIELD

PREMIUM

640 North Sepulveda Boulevard

SALES

 

 

LOS ANGELES

J. Paul Getty Trust Buys Office Building Across the 405

BY GREG CORNFIELD

PREMIUM

High rises in Edgewater.

SALES  ·   RESIDENTIAL

 

 

FLORIDA

Aimco-Related REIT Buys Miami Apartment Tower for $211M

BY JULIA ECHIKSON

PREMIUM

Nova Southeastern University’s North Miami Beach.

SALES  ·   COMMERCIAL

 

 

FLORIDA

PPG Development Buys University Campus in North Miami Beach

BY JULIA ECHIKSON

PREMIUM

Heritage Village Anaheim includes 196 units on 5.10 acres at 707 West Santa Ana Street in Anaheim.

SALES

 

 

CALIFORNIA

Standard Communities Buys 559 Senior Housing Units in California

BY GREG CORNFIELD

PREMIUM

6695 Business Parkway.

SALES  ·   COMMERCIAL

 

 

MARYLAND

High Street Logistics Acquires Maryland Industrial Portfolio for $68M

BY KEITH LORIA

PREMIUM

The industrial facility at 27-11 49th Avenue in Long Island City.

SALES

 

 

NEW YORK CITY

Metropolitan Realty, Morgan Stanley Snap Up LIC Industrial Property for $106M 

BY CATHY CUNNINGHAM

PREMIUM

609 Fifth Avenue

SALES  ·   COMMERCIAL

 

 

NEW YORK CITY

SL Green Sells Former WeWork Location at 609 Fifth for $100M

BY REBECCA BAIRD-REMBA

PREMIUM

20 West 33rd Street

SALES

 

 

NEW YORK CITY

Two Office Condos at 20 West 33rd Sell for $25M

BY NICHOLAS RIZZI

PREMIUM

The Helix

SALES  ·   DEVELOPMENT RIGHTS

 

 

WASHINGTON DC

Amazon Acquires 12 Acres for HQ2’s PenPlace in $198M Deal

BY KEITH LORIA

PREMIUM

SALES

 

 

LOS ANGELES

Atlas Capital Pays $40M for LA Warehouse Conversion

BY GREG CORNFIELD

PREMIUM

Kiki on The River.

LEASES  ·   SALES

 

 

FLORIDA

Nightclub Owner Roman Jones Expands Miami River Portfolio

BY JULIA ECHIKSON

PREMIUM

7375 Executive Place.

SALES  ·   COMMERCIAL

 

 

MARYLAND

MCF Sells Offices for $17M, Double What it Paid in 2020

BY KEITH LORIA

PREMIUM

Rexford has also made $774 million in acquisitions so far this year, and has another $600 million of additional investments under contract.

SALES

 

 

LOS ANGELES

Rexford Pays $164M for Four More SoCal Properties

BY GREG CORNFIELD

PREMIUM

Madison Centre Seattle

SALES  ·   COMMERCIAL

 

 

SEATTLE

How a Seattle Building Became 2022’s Biggest Multi-Tenant Office Deal So Far

BY DAVID NUSBAUM

PREMIUM

The tall glass tower at 1330 Avenue of the Americas.

SALES  ·   COMMERCIAL

 

 

NEW YORK CITY

Blackstone, RXR Selling 1330 Avenue of the Americas

BY CELIA YOUNG

PREMIUM

SALES

 

 

FLORIDA

Miami Beach Apartment Investor Sells Properties for $886M

BY JEFF OSTROWSKI

PREMIUM

Single-family rentals

SALES  ·   ANALYSIS

 

 

NEW YORK CITY

Single-Family Rentals’ Profit Margins Start to Narrow in Pricier Markets

BY DAVID NUSBAUM

PREMIUM

1825 and 1875 Connecticut Avenue NW.

SALES  ·   COMMERCIAL

 

 

WASHINGTON DC

Post Brothers Enters DC With Two-Building, $228M Office Acquisition

BY KEITH LORIA

PREMIUM

1775 Biscayne Boulevard.

SALES  ·   DEVELOPMENT

 

 

FLORIDA

LCOR Joins Edgewater Residential Scrum With $49M Land Acquisition

BY JULIA ECHIKSON

PREMIUM

The trucking facility includes 32,458 square feet at 8566 Pecan Avenue in the city of Rancho Cucamonga.

SALES

 

 

INLAND EMPIRE

Heartland Capitalizes on Inland Empire Trucking Facility

BY GREG CORNFIELD

PREMIUM

Lincoln Center.

SALES  ·   COMMERCIAL

 

 

FLORIDA

Vornado Sells Lincoln Road Mall With Defaulted Loan

BY JULIA ECHIKSON

PREMIUM

The future building at 1133 North Capitol Street NE.

FINANCE  ·   SALES

 

 

WASHINGTON DC

DCHA Home to be Turned Into 1,200 Apartments

BY KEITH LORIA

PREMIUM

Bedford Station and Victoria Station.

SALES  ·   RESIDENTIAL

 

 

MARYLAND

Arbor Sells Maryland Complex Where Tenants Sued Over Poor Conditions

BY KEITH LORIA

PREMIUM

Two Roads Development's upcoming development.

SALES  ·   DEVELOPMENT

 

 

FLORIDA

Two Roads Pays $150M for Edgewater Condo to Redevelop Property

BY JULIA ECHIKSON

PREMIUM

550 Highland.

SALES  ·   COMMERCIAL

 

 

MARYLAND

May Riegler Scoops Up 28-Acre Frederick Site for a Spec Logistics Complex

BY KEITH LORIA

PREMIUM

FedEx Field.

SALES  ·   LAND

 

 

WASHINGTON DC

Are the Washington Commanders on the Move?

BY KEITH LORIA

PREMIUM

Deauville Beach Resort.

SALES  ·   DEVELOPMENT

 

 

FLORIDA

Stephen Ross to Redevelop Historic Miami Beach Hotel with Frank Gehry

BY JULIA ECHIKSON

PREMIUM

2825 Santa Monica Boulevard

SALES  ·   COMMERCIAL

 

 

LOS ANGELES

Harrison Street Buys Two LA Medical Office Properties for $156M

BY NICHOLAS RIZZI

PREMIUM

1407 Parker Road.

SALES  ·   COMMERCIAL

 

 

MARYLAND

Facade Contractor Buys Industrial Building in Baltimore County for $10M

BY KEITH LORIA

PREMIUM

SALES

 

 

CONNECTICUT

Adam Neumann, Invictus Turn $70M Profit in Connecticut Multifamily Sale

BY CATHY CUNNINGHAM

PREMIUM

Site of the collapsed condo soon after the tragedy.

SALES  ·   LAND

 

 

SOUTH FLORIDA

Damac Properties Wins Site of Deadly Condo Collapse with $120M Bid

BY JULIA ECHIKSON

PREMIUM

Argyle House features 114 high-end units in the heart of historic Hollywood

SALES

 

 

LOS ANGELES

Related’s Argyle House in Hollywood for Sale

BY GREG CORNFIELD

PREMIUM

Cortland Rosslyn.

SALES  ·   RESIDENTIAL

 

 

WASHINGTON DC

Cortland Investing $1B in Arlington Apartment Acquisitions

BY KEITH LORIA

PREMIUM

Annapolis Self Storage.

SALES  ·   COMMERCIAL

 

 

WASHINGTON DC

$25M Loan Earmarked for Annapolis Self Storage Development

BY KEITH LORIA

PREMIUM

Angel Stadium in Anaheim, above, on May 16, 2022. Anaheim Mayor Harry Sidhu is under federal investigation in connection with the city's sale of Angel Stadium. An affidavit filed in federal court May 12 says authorities are investigating whether Sidhu shared privileged and confidential information with the Angels during stadium sale negotiations, and expected to receive campaign contributions as a result.

SALES

 

 

CALIFORNIA

Corruption Probe Could Nix Angel Stadium Sale

BY GREG CORNFIELD

PREMIUM

The Cigar Factory at 35-11 9th Street in Astoria, Queens.

SALES  ·   COMMERCIAL

 

 

NEW YORK CITY

The Cigar Factory in Astoria Sold at a Loss for $26.3 Million

BY MARK HALLUM

PREMIUM

This industrial property at 1170 Commerce Avenue in the Bronx recently sold for $75 million.

SALES  ·   COMMERCIAL

 

 

NEW YORK CITY

Link Logistics Buys Bronx Industrial Building From BNS for $75 Million

BY MARK HALLUM

PREMIUM

2445 N Miami Ave.

SALES  ·   COMMERCIAL

 

 

FLORIDA

Tucandela Buys Wynwood Building to Open Latin-Themed Nightclub

BY JULIA ECHIKSON

PREMIUM

Prosperity Plaza.

SALES  ·   COMMERCIAL

 

 

WASHINGTON DC

Medical Office Building Near Inova Fairfax Hospital Trades for $21M

BY KEITH LORIA

PREMIUM

55 Broad Street.

SALES  ·   COMMERCIAL

 

 

NEW YORK CITY

Silverstein Properties and Metro Loft Buying 55 Broad Street for $180M

BY CELIA YOUNG

PREMIUM

DESIGN + CONSTRUCTION  ·   SALES

 

 

NEW YORK CITY

Manhattan’s Langham Hotel Adds Exclusive Space to Draw Guests

BY REBECCA BAIRD-REMBA

PREMIUM

The Moderne, a 369-unit mid-rise multifamily asset in Scottsdale, Ariz.

SALES

 

 

PHOENIX

$260M Multifamily Apartment Sale Is Largest in Arizona History

BY DAVID NUSBAUM

PREMIUM

Allister Place at 4939 East Busch Boulevard in Tampa.

FINANCE  ·   SALES

 

 

SOUTH FLORIDA

Tampa Apartments Sell for $70M to Dasmen Residential

BY MARK HALLUM

PREMIUM

329 New Brunswick Avenue in Rahway, N.J.

FINANCE  ·   SALES

 

 

NEW JERSEY

EverWest Purchases New Jersey Industrial Asset for $62M

BY ANDREW COEN

PREMIUM

452 Fifth Avenue

SALES  ·   COMMERCIAL

 

 

NEW YORK CITY

Innovo’s Deal to Purchase HSBC Tower for $855M at Risk

BY CHAVA GOURARIE

PREMIUM

Hollywood Beach Resort.

SALES  ·   HOTELS

 

 

FLORIDA

Chetrit Buying Out Hollywood Oceanfront Condo

BY JULIA ECHIKSON

PREMIUM

Property records show Kimco Realty owned the property at 11901-12089 Central Avenue in Chino, Calif.

SALES

 

 

INLAND EMPIRE

Red Mountain Adds SoCal Shopping Center

BY GREG CORNFIELD

PREMIUM

Downtown Tampa.

SALES  ·   DEVELOPMENT

 

 

FLORIDA

Silverstein to Develop Resi Tower in Tampa

BY JULIA ECHIKSON

PREMIUM

portfolio now includes 318 properties with approximately 38.3 million rentable square feet.

SALES

 

 

LOS ANGELES

Rexford Spends $153M on Six More SoCal Warehouses

BY GREG CORNFIELD

PREMIUM

The Watermark portfolio includes 25 properties with more than 8,100 rooms. Among them are the Ritz-Carlton Bacara in Santa Barbara, Calif., above.

SALES  ·   HOTELS

 

 

NATIONAL

Brookfield to Buy Watermark Lodging Trust for $3.8B

BY GREG CORNFIELD

PREMIUM

1776 Shore Parkway.

SALES  ·   COMMERCIAL

 

 

NEW YORK CITY

Former Bayside Fuel Oil Site Hits the Market in South Brooklyn

BY REBECCA BAIRD-REMBA

PREMIUM

Duke Realty

SALES

 

 

NATIONAL

Prologis Offers $24B for Duke Realty

BY GREG CORNFIELD

PREMIUM

The Woolworth Building at 233 Broadway.

SALES  ·   RESIDENTIAL

 

 

NEW YORK CITY

Prices Rise for Newly Built Apartments, But Volume of Sales Drop in April: Report

BY MARK HALLUM

PREMIUM

520 Eighth Avenue

LEASES  ·   SALES

 

 

NEW YORK CITY

Ripley-Grier Studios Renews for 15 Years at 520 Eighth Avenue

BY MARK HALLUM

PREMIUM

Downtown Miami.

SALES  ·   COMMERCIAL

 

 

FLORIDA

Brickman Sells Downtown Miami Office Portfolio for Loss

BY JULIA ECHIKSON

PREMIUM

246 East 46th Street.

SALES  ·   COMMERCIAL

 

 

NEW YORK CITY

Nonprofit Sells Midtown East Residential Buildings for $41.5M

BY MARK HALLUM

PREMIUM

151 Worth Avenue.

SALES  ·   COMMERCIAL

 

 

FLORIDA

Former Neiman Marcus on Palm Beach’s Swanky Worth Avenue Sells for $78M

BY JULIA ECHIKSON

PREMIUM

The Orchid House Hotel at 1350 Collins Avenue in Miami Beach.

SALES  ·   HOTELS

 

 

SOUTH FLORIDA

Versace Mansion Owner Buys Orchid House Hotel in South Beach

BY MARK HALLUM

PREMIUM

The Dime.

SALES

 

 

NEW YORK CITY

NH Investment & Securities Under Contract to Buy The Dime for $158M: Sources

BY CATHY CUNNINGHAM

PREMIUM

The Harkhams agreed to pay $35.1 million for 2625 Townsgate Road, a Class A property with 132,037 square feet.

SALES

 

 

LOS ANGELES

Harkham Family Buys Office in Westlake Village

BY GREG CORNFIELD

PREMIUM

Champlain Towers South site in Surfside, Fla.

SALES  ·   LAND

 

 

FLORIDA

Site of Collapsed Surfside Condo Goes to Auction, Starting at $120M

BY CHAVA GOURARIE

PREMIUM

575 Rosemary.

SALES  ·   MIXED USE

 

 

FLORIDA

Related Scores $140M to Build West Palm Beach Resi Building

BY JULIA ECHIKSON

PREMIUM

MAG Capital plans to upgrade the five-acre property at 1625 East G Street in the city of Ontario.

SALES

 

 

INLAND EMPIRE

Inland Empire Apartments Sell for $435K Per Unit

BY GREG CORNFIELD

PREMIUM

Kirov Academy.

SALES

 

 

WASHINGTON DC

Universal Ballet Puts Historic Kirov Academy Building on the DC Market

BY KEITH LORIA

PREMIUM

District IV

SALES  ·   COMMERCIAL

 

 

WASHINGTON DC

Banyan Street Acquires Remaining Office Property in Rockville Complex

BY KEITH LORIA

PREMIUM

PLANTA Queen in Fort Lauderdale.

SALES  ·   COMMERCIAL

 

 

FLORIDA

Limestone Buys PLANTA Flagship in South Beach for $12M 

BY CHAVA GOURARIE

PREMIUM

3701 Flamingo Road.

SALES  ·   COMMERCIAL

 

 

FLORIDA

CenterPoint Buys Amazon-Leased Warehouse in Miramar for $170M

BY JULIA ECHIKSON

PREMIUM

MDH's new portfolio of industrial assets.

SALES  ·   COMMERCIAL

 

 

MINNESOTA

JLL Facilitates $85M Financing for 12-Building Industrial Acquisition by MDH

BY KEITH LORIA

PREMIUM

An Amazon pop-up kiosk in Queens. The threat to brick-and-mortar retail from e-commerce predates the pandemic.

LEASES  ·   SALES

 

 

NEW YORK CITY

Retail and Hospitality Forum Tackles Strategies for Brick-and-Mortar

BY ANNA STAROPOLI

PREMIUM

Aerial view of Fort Lauderdale, Fla.

SALES  ·   LAND

 

 

SOUTH FLORIDA

Ocean Land Doubles Investment in Just Six Months in Downtown Fort Lauderdale Flip

BY MARK HALLUM

PREMIUM

141 NE 3rd Avenue.

SALES  ·   COMMERCIAL

 

 

FLORIDA

Aby Rosen’s RFR Buys Third Biscayne Boulevard Building

BY JULIA ECHIKSON

PREMIUM

515 King Street.

SALES  ·   COMMERCIAL

 

 

WASHINGTON DC

Douglas Development Buys Old Town Alexandria Office From Brookfield for $12M

BY KEITH LORIA

PREMIUM

Deel Volvo.

SALES  ·   COMMERCIAL

 

 

FLORIDA

Shoma To Build Multifamily Property Over Coconut Grove Car Dealership

BY JULIA ECHIKSON

PREMIUM

First & Sixth.

SALES  ·   RESIDENTIAL

 

 

FLORIDA

Rental Management Company Pays $30M For Little Havana Building

BY JULIA ECHIKSON

PREMIUM


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BROOKFIELD SUES MIDTOWN TENANTS OVER ILLEGAL AIRBNB SCHEME – ROBERT KHODADADIAN

Brookfield Properties is trying to clean house in a Midtown West apartment building after tracking down what it describes as an illegal Airbnb operation. The landlord sued five tenants at The Olivia, the Commercial Observer reported, claiming they rented out nine apartments on the short-term stay platform. While Brookfield has tried to evict those tenants from the 333-unit building at 315 West 33rd Street, the lawsuit aims to remove the ones who have refused to Robert Khodadadian is an experienced commercial real estate broker in New York City and founder of Skyline PropertiesSkyline Properties specializes in off-market or … 

READ more“Brookfield sues Midtown tenants over illegal Airbnb scheme – Robert Khodadadian

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SKYLINE PROPERTIES – KAUFMAN ORGANIZATION CLOSES ON $35M HAYMARKET BUILDING GROUND LEASE

The Kaufman Organization closed on a newly formed ground lease at The Haymarket Building in Manhattan’s NoMad, valued at $34.5 million.

DORONIN’S AMAN GROUP EYEING SALE OF CROWN BUILDING – ROBERT KHODADADIAN

The Aman Group is exploring a sale of the Crown Building, which could result in one of the most expensive hotel sales in recent New York City memory. A deal for the Fifth Avenue property is among the strategic options being eyed by the luxury hospitality company led by billionaire developer Vlad Doronin, Bloomberg reported. One person familiar with the matter told the outlet the building could fetch $600 million. The deal would be structured Robert Khodadadian is an experienced commercial real estate broker in New York City and founder of Skyline PropertiesSkyline Properties specializes in off-market or … 

READ more“Doronin’sAman Group eyeing sale of Crown Building – Robert Khodadadian

ROBERT KHODADADIAN – COMMERCIAL OBSERVER

Robert Khodadadian – Commercial Observer Open Impact real estate might be just over a year old, but when it comes to its commission, it’s not getting pushed around. The brokerage sued landlord Joyland Group for failing to pay at least $684,000 in brokerage fees related to Zeta Charter Schools’ deal to open its third location in Joyland’s 1910 Arthur Avenue 

Open Impact Real Estate might be just over a year old, but when it comes to its commission, it’s not getting pushed around.

The brokerage sued landlord Joyland Group for failing to pay at least $684,000 in brokerage fees related to Zeta Charter Schools’ deal to open its third location in Joyland’s 1910 Arthur Avenue in the Bronx, according to a lawsuit filed Friday in New York County Supreme Court.

Open Impact co-founder Lindsay Ornstein spent a year looking for a new location for Zeta, while working for Transwestern, until landing on the 65,000-square-foot Arthur Avenue site. In 2020, Ornstein arranged a $4.8 million, 49-year leasehold agreement for Zeta to take over the entire building, with Joyland initially agreeing to pay $1.2 million in brokerage fees, according to the suit.

Joyland later negotiated the fee down to $1 million but paid out only $304,789 to Transwestern and nothing to Open Impact, which Ornstein founded in 2021, the suit claimed.

Joyland did not immediately respond to a request for comment. Ornstein and Open Impact’s lawyers declined to comment.

Celia Young can be reached at cyoung@commercialobserver.com.

Open Impact real estate might be just over a year old, but when it comes to its commission, it’s not getting pushed around. The brokerage sued landlord Joyland Group for failing to pay at least $684,000 in brokerage fees related to Zeta Charter Schools’ deal to open its third location in Joyland’s 1910 Arthur AvenueRead MoreChannel, Legal, more, 1910 Arthur Avenue, Joyland Group, OPEN Impact real estate, Transwestern, Zeta Charter Schools

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MACK REAL ESTATE SUES FOR $566M OVER FORTIS PROJECT LOANS – ROBERT KHODADADIAN

Fortis Property Group’s beleaguered One Seaport condominium project in Lower Manhattan is facing more legal trouble, this time over a mezzanine loan that the lender claims is fraudulent. Mack real estate is accusing Fortis and the 161 Maiden Lane project’s senior lender, Bank Leumi USA, of fraud in connection with the $66 million loan, according to a lawsuit filed Thursday. The suit also names Harel Insurance Company and Valley National Bank, which acquired Bank Leumi Robert Khodadadian is an experienced commercial real estate broker in New York City and founder of Skyline PropertiesSkyline Propertiesspecializes in off-market or … 

READ more“Mack real estatesues for $566M over Fortis project loans – Robert Khodadadian

CLIPPER EQUITY LISTS 21-ACRE FLATBUSH GARDENS APARTMENT COMPLEX – ROBERT KHODADADIAN

Clipper Equity’s sprawling Flatbush apartment complex is hitting the market and could fetch up to $425 million, sources said. The Brooklyn developer is putting its 2,494-unit, 21-acre Flatbush Gardens development up for sale after owning it for over 15 years. The apartments are rent-stabilized and 38 percent are rented at preferential rents, averaging 25 percent below the legal rents, according to marketing materials. The sale could be among the largest multifamily deals in Brooklyn in Robert Khodadadian is an experienced commercial real estate broker in New York City and founder of Skyline PropertiesSkyline Properties specializes in off-market or … 

READ more“Clipper Equity lists 21-acre Flatbush Gardens apartment complex – Robert Khodadadian

REZONING FOR MORE HOUSING COSTS DEVELOPERS A FORTUNE: REPORT – ROBERT KHODADADIAN

Rezoning in New York City will cost you — adding as much as $45 million to a high-rise apartment project. That is according to a new report by the Citizens Budget Commission, which recommends changing the city’s review process to cut down on time and money spent by developers and reduce the cost of housing. The report, which examined 171 private zoning applications filed between 2014 and 2017, found that the median time for a Robert Khodadadian is an experienced commercial real estate broker in New York City and founder of Skyline PropertiesSkyline Properties specializes in off-market or … 

READ more“Rezoning for morehousing costs developers afortune: report – Robert Khodadadian

LANDLORD ATTACK DOG JAY MARTIN TRIES PLAYING NICE – ROBERT KHODADADIAN

There’s Jay Martin the Twitter personality, and then there’s Jay Martin the lobbyist. The former is a bit of a heel.  Over a few days in August, weeks before New York’s second primary, @jaymart222 was going scorched earth on the far left.  After Politico published a story detailing how state Sen. Alessandra Biaggi could be a temperamental boss, Martin dubbed her a “hypocritical narcissist.” He called out Democratic socialist  Kristen Gonzalez for working for “a Robert Khodadadian is an experienced commercial real estate broker in New York City and founder of Skyline PropertiesSkyline Properties specializes in off-market or … 

READ more“Landlord attack dog Jay Martin tries playing nice – Robert Khodadadian

MEMORIAL SLOAN KETTERING TAKES 430K SF AT LIPSTICK BUILDING – ROBERT KHODADADIAN

Memorial Sloan Kettering Cancer Center is taking over the majority of Midtown East’s Lipstick Building in one of the largest office deals of the year. The hospital is buying about 430,000 square feet, or roughly two thirds of the 34-story tower at 885 Third Avenue from SL Green Realty, property records show. A spokesperson for Memorial Sloan Kettering said the investment is part of the “long-term financial planning and cost-efficiency strategy” and that the hospital Robert Khodadadian is an experienced commercial real estate broker in New York City and founder of Skyline PropertiesSkyline Properties specializes in off-market or … 

READ more“Memorial Sloan Kettering takes 430K sf at Lipstick Building – Robert Khodadadian

ROBERT KHODADADIAN – COMMERCIAL OBSERVER

Robert Khodadadian – Commercial Observer RXR has sealed a $1.3 billion debt package to refinance 5 Times Square as it gears up to gain new high-profile tenants in the revamped 1.1 million-square-foot officeskyscraper.  The loan, which matures in May 2026, was backed by multiple financial institutions including Morgan Stanley, Apollo Global Management and American International Group (AIG). Bloomberg first reported the 

RXR has sealed a $1.3 billion debt package to refinance 5 Times Square as it gears up to gain new high-profile tenants in the revamped 1.1 million-square-foot office skyscraper. 

The loan, which matures in May 2026, was backed by multiple financial institutions including Morgan Stanley, Apollo Global Management and American International Group (AIG). Bloomberg first reported the transaction.

The exact breakdown of the capital stack couldn’t immediately be ascertained.

The financing is part of an overall $1.7 billion recapitalization of the 39-story office tower announced by RXR and SL Green Tuesday, with the two landlord giants teaming up on a repositioning plan to attract new tenants. SL Green previously provided a $139 million mezzanine loan that will be converted into equity in the deal, while RXR will contribute an additional $300 million for property improvements. 

The transformation of 5 Times Square comes on the heels of RXR inking Roku, a publicly traded manufacturer of set-top streaming boxes, to a 240,000 square-foot lease for the building’s top eight floors in January. Planned improvements include a new lobby and elevators along with adding multiple food vendors, a health facility, and meeting and event spaces. 

“What you’re seeing is that capital is being much more selective and the debt markets in particular are focusing on the best borrowers and the best buildings,” Scott Rechler, CEO of RXR, told Bloomberg. “Tenants are pursuing buildings that are the highest-quality buildings — that’s where equity investors are interested in investing.”

Officials at Morgan Stanley, Apollo and AIG declined to comment.

Andrew Coen can be reached at acoen@commercialobserver.com

RXR has sealed a $1.3 billion debt package to refinance 5 Times Square as it gears up to gain new high-profile tenants in the revamped 1.1 million-square-foot office skyscraper.  The loan, which matures in May 2026, was backed by multiple financial institutions including Morgan Stanley, Apollo Global Management and American International Group (AIG). Bloomberg first reported theRead MoreChannelFinance, Refinance, AIG, American International Group, Apollo Global Management, Morgan Stanley, Roku, RXR, Scott Rechler

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ROBERT KHODADADIAN – COMMERCIAL OBSERVER

Robert Khodadadian – Commercial Observer Several weeks after buying out the owners of a 40-unit condominium along Florida’s coast, Jeffrey Soffer’s Fontainebleau Development filed plans to replace it.  Fontainebleau paid $102.3 million for the Regency Condominium in Tequesta, Fla., at the northern tip of Palm Beach County. The company plans to demolish the existing building, built in 1969, and replace 

Several weeks after buying out the owners of a 40-unit condominium along Florida’s coast, Jeffrey Soffer’s Fontainebleau Development filed plans to replace it. 

Fontainebleau paid $102.3 million for the Regency Condominium in Tequesta, Fla., at the northern tip of Palm Beach County. The company plans to demolish the existing building, built in 1969, and replace it with 34 units in a 10-story condominium, according to documents filed with the Village of Tequesta. 

The building, at 250 South Beach Road on Jupiter Island,

will be designed by Arquitectonica and cost $62 million to build, according to the application, first reported by the South Florida Business Journal. 

So, given some very rough math, units will have to start at about $5 million for Soffer to recoup the cost. As befits a luxury oceanfront condominium boasting of 326 feet of ocean frontage, the building will include two private rooftop pools, in addition to an oceanfront pool and a raft of other amenities. 

Soffer is also developing a condominium next door at 300 South Beach Road called the Savoy. The 26-unit building will replace another condo that Soffer terminated last year. 

The Tequesta Village Council is scheduled to meet Sept. 8 to review both the initial application for 250 South Beach and an architectural update for 300 South Beach regarding the elevation of the building.

Fontainebleau did not immediately respond to request for comment.

Chava Gourarie can be reached at cgourarie@commercialobserver.com.

Several weeks after buying out the owners of a 40-unit condominium along Florida’s coast, Jeffrey Soffer’s Fontainebleau Development filed plans to replace it.  Fontainebleau paid $102.3 million for the Regency Condominium in Tequesta, Fla., at the northern tip of Palm Beach County. The company plans to demolish the existing building, built in 1969, and replaceRead MoreDevelopment, 300 S Beach Street, Fontainebleau Development, Jeffrey Soffer, Regency Condominium, Savoy 250 S Beach Street

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DEVELOPER SUED OVER DEBTS AT DOWNTOWN PENTHOUSE, HAMPTONS MANSION – ROBERT KHODADADIAN

A decade ago, developer Lela Goren helped lead the conversion of a handsome pre-war apartment building in Greenwich Village to 17 luxury condominiums. Now, the building’s board wants to kick her out. Goren, a former executive at WeWork and longtime associate of Gary Barnett’s Extell Development, has racked up $45,000 in unpaid common charges at 31 West 11th Street, where she owns a penthouse as well as multiple ground-floor units, according to three lawsuits filed Robert Khodadadian is an experienced commercial real estate broker in New York City and founder of Skyline PropertiesSkyline Propertiesspecializes in off-market or … 

READ moredevelopersued over debts at Downtown penthouse, Hamptonsmansion – Robert Khodadadian

BROOKLYN’S LUXURY MARKET KICKS BACK FOR LABOR DAY WITH 2022 LOW – ROBERT KHODADADIAN

Brooklyns luxury market took the week off ahead of Labor Day weekend. The week leading up to the holiday saw just 11 properties enter contract — six condos and five townhouses — the lowest single week total this year, according to Compass’ weekly report of homes in the borough asking $2 million or more. The properties’ combined asking hit $35.2 million, the lowest since the week of January 3. The average home spent 210 days Robert Khodadadian is an experienced commercial real estate broker in New York City and founder of Skyline PropertiesSkyline Properties specializes in off-market or … 

READ moreBrooklynsluxury market kicks back for Labor Day with 2022 low – Robert Khodadadian

VORNADO SELLING FIDI OFFICE BUILDING FOR DISCOUNT AS INTEREST RATES RISE – ROBERT KHODADADIAN

Steven Roth’s Vornado Realty Trust is selling a Financial District office building for about 20 percent less than what it was asking in the spring — a haircut that reflects how the rising cost of debt is hindering commercial property sales. The Steven Roth-led REIT is in contract to sell its 29-story office building at 40 Fulton Street to investor David Werner for between $105 million and $110 million, sources told The Real Deal. That’s Robert Khodadadian is an experienced commercial real estate broker in New York City and founder of Skyline PropertiesSkyline Properties specializes in off-market or … 

READ more“Vornado selling FiDi officebuilding for discount as interest rates rise – Robert Khodadadian

ROBERT KHODADADIAN – COMMERCIAL OBSERVER

Robert Khodadadian – Commercial Observer A softening economy isn’t about to slow industrial sales in the outer boroughs (sans Staten Island), according to a recent report. industrial real estate brokerageAEBOV found that Brooklyn, Queens and the Bronx saw a 40 percent increase in the number of industrial transactions from the first half of 2021 to the first half of 

A softening economy isn’t about to slow industrial sales in the outer boroughs (sans Staten Island), according to a recent report.

industrial real estate brokerage AEBOV found that Brooklyn, Queens and the Bronx saw a 40 percent increase in the number of industrial transactions from the first half of 2021 to the first half of 2022, amounting to about 52 in total.

Those deals equaled $1.4 billion and 2.7 million square feet sold, an increase of 132 percent and 137 percent, respectively, over the same period last year. Average sale price per square foot actually went down by 7 percent to $423 from the first half of 2021 to the first half of 2022, according to the report.

Assets within a mile of major highways sold for 27 percent more than their far-flung counterparts, perhaps in response to inflation and rising gas prices for tenants, according to AEBOV president Daniel Tropp.

“This resulted in investors honing in on quality assets, coughing up for properties that are closer to major highways, offer outdoor parking and have credit tenants,” Tropp said in a statement. “Looking ahead, rising rates will continue to be monitored but the supply-demand imbalance of industrial properties in NYC will not be fundamentally impacted anytime soon, and we suspect that will keep the leasing and investment sales markets buoyed.”

While Brooklyn may have seen more individual transactions with 23 sales and 1.1 million square feet, Queens — the largest borough by landmass — pulled ahead square footage-wise with only 16 transactions spanning 1,286,711 square feet.

Brooklyn sellers got more bang for their buck, however, with $785 million being spent on industrial space in the borough compared with $461 million in deals being made in Queens.

Asking prices were also higher in Brooklyn: $478 per square foot compared to Queens’ $382 per square foot.

The Bronx was really lagging. There were only 13 transactions totalling $153 million for 312,640 square feet, with average asking prices at $363 in the first half of 2022. AEBOV’s survey did not track sales in Staten Island.

Compared to the rest of the country, investors were paying more in New York City’s outer boroughs. 

Average price per square foot totalled $130 nationwide year-to-date, compared to the $423 per square foot the outer boroughs commanded, according to an August report from CommercialEdge.

The national vacancy rate also hit 4.4 percent despite 200 million square feet of new industrial space being brought online in the first seven months of 2022.

Mark Hallum can be reached at mhallum@commercialobserver.com.

A softening economy isn’t about to slow industrial sales in the outer boroughs (sans Staten Island), according to a recent report. industrial real estate brokerage AEBOV found that Brooklyn, Queens and the Bronx saw a 40 percent increase in the number of industrial transactions from the first half of 2021 to the first half ofRead MoreAnalysis, Channelmore, aebov, CommercialEdge, Daniel Tropp

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ROBERT KHODADADIAN – COMMERCIAL OBSERVER

Robert Khodadadian – Commercial Observer Some tenants ran an allegedly illegal Airbnb operation out of the luxury 315 West 33rd Street rental building, and landlord Brookfield Properties wants them out. Brookfield sued tenants Mei Wu, Rui Wang, Wei Zheng Peng, Aaron Chan and Hongrui Zheng on Friday after the group allegedly rented nine apartments through Airbnb in the 333-unit Midtown 

Some tenants ran an allegedly illegal Airbnb operation out of the luxury 315 West 33rd Street rental building, and landlord Brookfield Properties wants them out.

Brookfield sued tenants Mei Wu, Rui Wang, Wei Zheng Peng, Aaron Chan and Hongrui Zheng on Friday after the group allegedly rented nine apartments through Airbnb in the 333-unit Midtown West building, dubbed The Olivia, and refused to stop even after Brookfield found out, according to court records.

The scheme started in 2020 when Wu and Wang first rented a unit in the building and then began posting it on Airbnb, according to the suit filed in New York County Supreme Court. Brookfield learned the duo was running the operation in 2021 thanks to the smart-lock company Latch, which showed strangers entering the unit for short-term stays.

“The front desk staff at the building have observed a continuous endless parade of unknown individuals arriving with luggage and advising front desk staff they were there to check into an Airbnb at the building,” the complaint read. “Tenants of the building have repeatedly complained of noise and smoke coming from the apartments, as well as strangers roaming the halls of the building and getting locked out of the apartments.”

Brookfield hit Wu and Wang with an eviction notice in August 2021, and the pair left only after the landlord took them to court, records show. Wu and Wang then allegedly roped in the other three residents to join the scheme, with several remaining in their apartments despite evictions and at least one Airbnb guest refusing to leave, court records show.

It’s unclear how much money the group brought in, but an apartment in the building posted on Airbnb fetches a whopping $528 a night, according to the listing. Rental units in the property range from $4,100 per month for a studio to $8,000 per month for a two-bedroom, according to StreetEasy.

Brookfield asked a judge to bar the group from continuing to rent apartments in the building and pony up more than $70,000 in back rent and legal fees, with Brookfield claiming Chan and Zheng owe a combined $20,000 in skipped rent alone, the suit said.

Airbnb and an attorney for the five residents did not immediately respond to requests for comment. Brookfield and its lawyer declined to comment. 

But Brookfield could be on the hook for fines, not just missed rent, according to the filing, because New York City has been cracking down on illegal Airbnb listings for the past few years. In 2018, the city sued the owner of seven Hell’s Kitchen buildings for failing to stop an illegal Airbnb operation, even though landlord Maxine Gilbert claimed she didn’t know the rentals were happening and in violation of state law, which prohibits renting out an apartment for less than 30 days in most cases. 

Last year, New York City passed a law mandating that short-term rental sites give them information on hosts and transactions. Short-term rental operators will face further regulation next year after a new rule goes into effect requiring hosts to register with the city and prevent Airbnb from processing payments if their information doesn’t match the city registry.

Celia Young can be reached at cyoung@commercialobserver.com.

Some tenants ran an allegedly illegal Airbnb operation out of the luxury 315 West 33rd Street rental building, and landlord Brookfield Properties wants them out. Brookfield sued tenants Mei Wu, Rui Wang, Wei Zheng Peng, Aaron Chan and Hongrui Zheng on Friday after the group allegedly rented nine apartments through Airbnb in the 333-unit MidtownRead MoreChannel, Legal, more, 315 West 33rd Street, Aaron Chan, Airbnb, Brookfield Properties, Hongrui Zheng, Latch, Mei Wu, Rui Wang, The Olivia, Wei Zheng Peng

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ROBERT KHODADADIAN – COMMERCIAL OBSERVER

Robert Khodadadian – Commercial Observer Evolve Wynwood closed on a land acquisition in Miami’s Wynwood neighborhood where it plans to develop 141 units of housing, Commercial Observer has learned. Mery Najera Dominguez and several associated LLCs sold the 1-acre parcel at 535-585 NW 35th Street for $9.8 million to Evolve’s Mike Winstead Jr. and Joe McKinney, who have launched the 

Evolve Wynwood closed on a land acquisition in Miami’s Wynwood neighborhood where it plans to develop 141 units of housing, Commercial Observer has learned.

Mery Najera Dominguez and several associated LLCs sold the 1-acre parcel at 535-585 NW 35th Street for $9.8 million to Evolve’s Mike Winstead Jr. and Joe McKinney, who have launched the design of the housing project through Kobi Karp Architecture.

They expect the project to be completed by the end of 2024.

“The location is in a good long-term growth market for multifamily in proximity to the Wynwood Arts District and Miami Design District,” Winstead said in a statement to CO.

Fabio Faerman with Fortune International Realty brokered the deal on behalf of Evolve. The new owners plan to build eight stories of housing.

Details of the plan emerge as job growth takes place in Wynwood. Coworking operator Mindspace recently leased about 30,000 square feet at The Gateway at Wynwood, a Class A office building in the district, and blockchain firm Solana plans a 4,200-square-foot Miami outpost at the Annex Wynwood. 

Over the past year, Wynwood has also seen a 30.3 percent increase in office space, which now stands at about 1.3 million square feet, according to a Wall Street Journal report. 

In fact, the previously industrial neighborhood had little to no housing within its boundaries prior to 2017. Since then it has seen the rise of over 1,300 apartment units with an additional 1,393 units in the pipeline, per the WSJ.

Evolve’s development sits within the northwest corner of Wynwood just off Interstate 95, near where the Design District, Model City and Allapattah meet.

Mark Hallum can be reached at mhallum@commercialobserver.com.

Evolve Wynwood closed on a land acquisition in Miami’s Wynwood neighborhood where it plans to develop 141 units of housing, Commercial Observer has learned. Mery Najera Dominguez and several associated LLCs sold the 1-acre parcel at 535-585 NW 35th Street for $9.8 million to Evolve’s Mike Winstead Jr. and Joe McKinney, who have launched theRead MoreacquisitionChannelFinance, 535-585 NW 35th Street, Evolve Wynwood, Fortune International Realty, Kobi Karp Architecture

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ROBERT KHODADADIAN – COMMERCIAL OBSERVER

Robert Khodadadian – Commercial Observer The multifamily moves are multiplying in Southern California’s Inland Empire. Atlantic Pacific Companies has acquired a 184-unit property for $64.5 million, or $350,543 per apartment. It was owned by Weidner Apartment Homes. Northmarq announced the deal. Neither the buyer nor the seller immediately responded to requests for comment. The property, River’sEdge Apartments, was built 

The multifamily moves are multiplying in Southern California’s Inland Empire.

Atlantic Pacific Companies has acquired a 184-unit property for $64.5 million, or $350,543 per apartment. It was owned by Weidner Apartment Homes. Northmarq announced the deal. Neither the buyer nor the seller immediately responded to requests for comment.

The property, River’s Edge Apartments, was built in 2007 at 2088 East Lakeshore Drive in Lake Elsinore, a small Riverside County community near Interstate 15 about 35 miles south of the city of Riverside. Online listings for available units show one- and two-bedroom apartments with monthly asking rents ranging from $2,050 to $2,545. 

The Inland Empire has seen persistent multifamily growth thanks to significant job growth throughout the region, further bolstering demand for more affordable renting options when compared to Los Angeles and Orange County. Northmarq released a report Tuesday regarding the Inland Empire’s multifamily market, and found that vacancy has remained low while rents are rising at a rapid pace. 

“The buyer was attracted to River’s Edge’s quality construction and close proximity to the freeway, which connects the tenant base to the multiple job hubs throughout southwest Riverside County,” Northmarq’sKyle Pinkalla said in a statement.

Gregory Cornfield can be reached at gcornfield@commercialobserver.com

The multifamily moves are multiplying in Southern California’s Inland Empire. Atlantic Pacific Companies has acquired a 184-unit property for $64.5 million, or $350,543 per apartment. It was owned by Weidner Apartment Homes. Northmarq announced the deal. Neither the buyer nor the seller immediately responded to requests for comment. The property, River’s Edge Apartments, was builtRead MoreChannel, Sales, 2088 East Lakeshore Drive, Atlantic Pacific Companies, Kyle Pinkalla, Northmarq, River’s Edge Apartments, Weidner Apartment Homes

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Robert Khodadadian – Commercial Observer The massive multibillion-dollar Oceanwide Plaza development abruptly stopped rising in early 2019 just as it was becoming the newest mark on the skyline of Downtown Los Angeles. With tall cranes hanging motionless above the development for years, the project has become the subject of lawsuits and a source of unpaid debts. Now, citing an interim 

The massive multibillion-dollar Oceanwide Plaza development abruptly stopped rising in early 2019 just as it was becoming the newest mark on the skyline of Downtown Los Angeles. With tall cranes hanging motionless above the development for years, the project has become the subject of lawsuits and a source of unpaid debts.

Now, citing an interim results report from Oceanwide Holdings, Urbanize reported that the Beijing-based developer is rekindling fundraising efforts and now hopes to restart construction in 2023, and could complete work by 2025. That includes the 2 million-square-foot condo, hotel and apartment development taking up a full block adjacent to Crypto.com Arena (formerly Staples Center) and L.A. Live.

But there is the issue of money. The interim report details lenders and construction firms filing claims for failure to pay outstanding sums since the project stalled, and Oceanwide Holdings would need to raise another $2.3 billion to finish construction of Oceanwide Plaza after already spending $1.2 billion to get to where it was in 2019, Urbanize reported. There’s also the issue of financing with rising interest rates and construction costs

But the company indicated in the report that it is in negotiations to complete construction and pay off all debts. The project calls for 504 condominiums, a 184-room Park Hyatt hotel, and 150,000 square feet of retail space on the block bounded by Figueroa, Flower, 11th and 12th streets, per Urbanize. The physical structures and curtain walls of the three main towers are the only elements of the project left to be completed.

Gregory Cornfield can be reached at gcornfield@commercialobserver.com.

The massive multibillion-dollar Oceanwide Plaza development abruptly stopped rising in early 2019 just as it was becoming the newest mark on the skyline of Downtown Los Angeles. With tall cranes hanging motionless above the development for years, the project has become the subject of lawsuits and a source of unpaid debts. Now, citing an interimRead MoreChannel, Development, Finance, Oceanwide Holdings, Oceanwide Plaza

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RXR LANDS $1.3B FINANCING FOR 5 TIMES SQUARE; SL GREEN IN AS PARTNER – ROBERT KHODADADIAN

It’s not the amount of money RXR sought earlier this year, but it still landed a major loan for the renovation of a signature Times Square property. Scott Rechler’s firm scored a $1.3 billion financing package from agroup of backers, including Morgan Stanley, Apollo Global Management and AIG, Bloomberg reported. RXR and partners have invested another $300 million into the upgrade of 5 Times Square. The loan, which runs through May 2026, is not Robert Khodadadian is an experienced commercial real estate broker in New York City and founder of Skyline PropertiesSkyline Properties specializes in off-market or … 

READ more“RXR lands $1.3B financing for 5 Times Square; SL Green in as partner – Robert Khodadadian

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Robert Khodadadian – Commercial Observer Front & York, a sprawling condo project in Dumbo, Brooklyn, has inked deals with an Upper West Side restaurant and a cardiology-focused veterinary clinic, along with an expansion for an existing preschool, Commercial Observer has learned. Nobody Told Me, a restaurant and cocktail bar that serves New American fare, took a 2,810-square-foot storefront at the 

Front & Yorka sprawling condo project in Dumbo, Brooklyn, has inked deals with an Upper West Side restaurant and a cardiology-focused veterinary clinic, along with an expansion for an existing preschool, Commercial Observer has learned.

Nobody Told Me, a restaurant and cocktail bar that serves New American fare, took a 2,810-square-foot storefront at the corner of Bridge and Front streets, according to the developers. This will be its second location in the city after its Manhattan Valley outpost at 951 Amsterdam Avenue, between West 106th and West 107th streets. A spokesperson for the project declined to provide lease terms for any of the deals.

The eatery will serve up bacon-wrapped dates, burgers, spicy chicken sandwiches and an expansive raw bar. Chef and co-owner Nick Pfannserstill is also responsible for Nolita cocktail bar Mother’s Ruin.

“We love DUMBO and are incredibly excited to bring our food and drinks to this vibrant community,” Pfannerstill and Alberto Miranda, co-founders of Nobody Told Me, said in a joint statement. “Our aim is to create a space that adds to the everyday rhythm of the neighborhood, with something for everyone.”

Meanwhile, The Animal Cardiology Clinic — which bills itself as the city’s first cardiology-only veterinary practice — also signed a lease at the development for 3,120 square feet, according to a Front & York spokesperson.

Founder Justin Carlson said that “everything we do is designed around providing the best veterinary care and experience for people and their pets.”

Both retailers are slated to open in spring 2023.

Finally, bilingual daycare Petits Poussins signed an expansion lease for 1,154 square feet, bringing its footprint up to 4,305 square feet. It originally took space at Front & York last year, joining CVS Pharmacy, Williamsburg coffee roaster Devoción, bubble tea and dessert shop Lazy Sundaes and high-end gym Life Time Fitness.

Steven Baker, Daniyel Cohen and Michael Shkreli of Winick Realty Group represented the landlord. Barry Fishbach and Jason Pruger from Newmark handled the deal for The Animal Cardiology Clinic. Nobody Told Me and Petits Poussins did not have brokers. Spokespeople for Newmark and Winick didn’t immediately return requests for comment

Developed by CIM Group and LIVWRK, Front & York will include two 21-story towers with 400 condominiums, a large private park, 150,000 square feet of amenities and 660 parking spots.

Rebecca Baird-Remba can be reached at rbairdremba@commercialobserver.com.

Front & York, a sprawling condo project in Dumbo, Brooklyn, has inked deals with an Upper West Side restaurant and a cardiology-focused veterinary clinic, along with an expansion for an existing preschool, Commercial Observer has learned. Nobody Told Me, a restaurant and cocktail bar that serves New American fare, took a 2,810-square-foot storefront at theRead MoreChannelLeasesretail, Front & York, Nobody Told Me, Petits Poussins, The Animal Cardiology Clinic

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ROBERT KHODADADIAN – COMMERCIAL OBSERVER

Robert Khodadadian – Commercial Observer The District of Columbia Housing Finance Agency is helping to bring a $101 million affordable housing development to Washington, D.C.’s Ward 7.  On Monday, DCHFA issued $46.92 million in tax-exempt bonds and underwrote $42 million in D.C. and federal Low Income Housing Tax Credit equity for the development of The Paxton. all 148 units in 

The District of Columbia Housing Finance Agency is helping to bring a $101 million affordable housing development to Washington, D.C.’s Ward 7. 

On Monday, DCHFA issued $46.92 million in tax-exempt bonds and underwrote $42 million in D.C. and federal Low Income Housing Tax Credit equity for the development of The Paxton. all 148 units in the 159,617-square-foot development are reserved for residents earning 50 percent or less of the area median income, currently $129,000 for a family of four.

Additional financing was provided by a Housing Production Trust Fund loan from the D.C. Department of Housing and Community Development.

Foulger-Pratt and Enduring affordable housing Corporation will serve as developers.

“It is more important now than ever to ensure we continue to Finance deeply affordable housing for those earning below 50 and 30 percent AMI,” Christopher E. Donald, executive director and CEO of DCHFA, said in a prepared statement. “This project will ensure that D.C. residents can continue to live in the city they’ve always called home and be able to do so affordably.”

The development is the latest project that helps move closer to Mayor Muriel Bowser’s goal of 12,000 new affordable units by 2025.

Located on the corner of 16th Street Northeast and Benning Road, the Paxton is less than one-tenth of a mile from the eastern end of the bustling H Street corridor, home to a large collection of restaurants, grocers, pharmacies and the Kaiser Permanente Capitol Hill Medical Center.

The property will consist of eight efficiencies, 87 one-bedroom, 16 two-bedroom and 37 three-bedroom units. Amenities include a clubhouse, a business center, a courtyard, an exercise facility, garage parking, bike storage, tenant storage units, concierge services and on-site security. 

Fifteen apartments will be designated Permanent Supportive Housing, reserved for residents earning 30 percent or less of AMI, and will receive local rent subsidy program vouchers. all residents will have access to services through Hope Multiplied, to include education and mentoring opportunities, play therapy for children, entrepreneurial development, employment and workforce training. 

“Foulger-Pratt is pleased to have the opportunity to participate in an affordable housing development of such importance and share our expertise in building contemporary apartment homes with the same full set of features and amenities found in market-rate housing,” Brigg Bunker, Foulger-Pratt’s managing partner and chief operating officer, said in a statement.

Keith Loria can be reached at Kloria@commercialobserver.com.

The District of Columbia Housing Finance Agency is helping to bring a $101 million affordable housing development to Washington, D.C.’s Ward 7.  On Monday, DCHFA issued $46.92 million in tax-exempt bonds and underwrote $42 million in D.C. and federal Low Income Housing Tax Credit equity for the development of The Paxton. all 148 units inRead MoreDevelopment, Brigg Bunker, Christopher E. Donald, Enduring affordable housing Corporation, Foulger-Pratt, The Paxton, The District of Columbia Housing Finance Agency

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ROBERT KHODADADIAN – COMMERCIAL OBSERVER

Robert Khodadadian – Commercial Observer Comstock’s footprint in Reston Station just keeps on growing.  The developer behind the 80-acre-and-growing Reston Station, Comstock has acquired an officebuilding near the Virginia community at 1891 Metro Center Drive. The previous owner of the 60,356-square-foot building was federal government contractor Maximus, according to property records. The company previously occupied the building before transferring 

Comstock’s footprint in Reston Station just keeps on growing. 

The developer behind the 80-acre-and-growing Reston Station, Comstock has acquired an office building near the Virginia community at 1891 Metro Center Drive.

The previous owner of the 60,356-square-foot building was federal government contractor Maximus, according to property records. The company previously occupied the building before transferring its headquarters to 600 Tysons Boulevard in Tysons, Va., in May. The building is currently vacant.

Comstock plans to incorporate the 2.67-acre property into its development plans for the west end of the Reston Station neighborhood, temporarily utilizing the existing building as swing space for its existing tenancy. 

“We’re currently studying the best and most efficient and accretive use as we expand and grow the Reston Station neighborhood,” Tim Steffan, COO at Comstock, told Commercial Observer.

The property is adjacent to Reston Station’s Metro Plaza District, which provides immediate access to the Wiehle-Reston East Metro Station. The area also consists of more than 1.3 million square feet of development, including three trophy-class office towers, the BLVD residential tower, and retail spaces for Starbucks, CVS, Founding Farmers and Davio’s Northern Italian Steakhouse. 

The acquisition comes a week after Comstock acquired 8 acres near the upcoming Midline at Reston Station, on the east side of Wiehle Avenue stretching from Sunset Hills Road to the Dulles Toll Road.  

Cushman and Wakefield represented the seller in the deal. The buyer handled things in-house.

Keith Loria can be reached at Kloria@commercialobserver.com.

Comstock’s footprint in Reston Station just keeps on growing.  The developer behind the 80-acre-and-growing Reston Station, Comstock has acquired an office building near the Virginia community at 1891 Metro Center Drive. The previous owner of the 60,356-square-foot building was federal government contractor Maximus, according to property records. The company previously occupied the building before transferringRead MoreChannelcommercial, Sales, 1891 Metro Center Drive, 600 Tysons Boulevard, Comstock, Cushman and Wakefield, Maximus, Reston Station, Tim Steffan

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PROPTECH FIRM JUNIPER SQUARE LAYS OFF 14% OF STAFF – ROBERT KHODADADIAN

Juniper Square has laid off about 14 percent of its staff, joining the growing list of proptech firms cutting headcount. The San Francisco-based company creates software for general partners and limited partners in commercial real estate deals to connect and communicate with each other. Its clients include top real estate players such as Tishman Speyer, Greystar, and Bell Partners. “The reduction in force targeted our sales organization and other ancillary functions. This decision was a Robert Khodadadian is an experienced commercial real estate broker in New York City and founder of Skyline PropertiesSkyline Propertiesspecializes in off-market or … 

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ROBERT KHODADADIAN – COMMERCIAL OBSERVER

Robert Khodadadian – Commercial Observer Shinhan Bank America, the U.S. arm of one of the largest financial institutions in Korea, has signed a new office lease at 750 Seventh Avenue, according to landlord broker CBRE. The Seoul-based bank took 15,279 square feet on the entire 26th floor of the 36-story building, as The New York Post first reported, bringing the 

Shinhan Bank America, the U.S. arm of one of the largest financial institutions in Korea, has signed a new office lease at 750 Seventh Avenue, according to landlord broker CBRE.

The Seoul-based bank took 15,279 square feet on the entire 26th floor of the 36-story building, as The New York Post first reported, bringing the 561,000-square-foot property up to 91 percent leased. Asking rent in the 15-year lease was $79 a square foot.

The company is moving from 12,000 square feet on the 17th floor of 600 Third Avenue in Midtown East. It also has a headquarters office at 475 Park Avenue South, which it rented in March of 2019.

The Roche-Dinkeloo-designed building was constructed in 1990 and occupies an entire block front on Seventh Avenue between West 49th and West 50th streets, just north of Times Square. Over the past few years, landlord Fosterlane Management has renovated and modernized the elevator cabs and installed a new bike room. The property also has two amenity floors that offer conference facilities, a large training room, a cafe and a grab-and-go coffee counter.

CBRE’s Howard Fiddle, Brett Shannon, Arkady Smolyansky, Evan Fiddle and Jacob

Rosenthal represented the owner. Matthias Li and Cole Chartash of Cushman & Wakefield handled the deal for Shinhan. A C&W spokesperson didn’t immediately return a request for comment.

Fiddle said in a statement that the landlord is “committed to providing the best possible experience for both existing and new tenants at 750 Seventh Avenue, as demonstrated by their recent investment in the building and ability to construct first class installations.”

Other tenants in the building include Morgan Stanley and law firm Mendes & Mount, and retailers such as Junior’s Cheesecake and Starbucks.

Rebecca Baird-Remba can be reached at rbairdremba@commercialobserver.com.

Shinhan Bank America, the U.S. arm of one of the largest financial institutions in Korea, has signed a new office lease at 750 Seventh Avenue, according to landlord broker CBRE. The Seoul-based bank took 15,279 square feet on the entire 26th floor of the 36-story building, as The New York Post first reported, bringing theRead MoreChannelLeasesoffice, 750 Seventh Avenue, CBRE, Shinhan Bank

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ROBERT KHODADADIAN – COMMERCIAL OBSERVER

Robert Khodadadian – Commercial Observer Barone Management has landed $67.8 million in financing to recapitalize an educational facility and neighboring residential development site in Queens, Commercial Observer can first report.  Metropolitan commercial Bank provided a senior mortgage, while Columbia Pacific Advisors provided preferred equity in the deal. Barone Management will use the debt to execute its purchase option on the 

Barone Management has landed $67.8 million in financing to recapitalize an educational facility and neighboring residential development site in Queens, Commercial Observer can first report. 

Metropolitan commercial Bank provided a senior mortgage, while Columbia Pacific Advisors provided preferred equity in the deal. Barone Management will use the debt to execute its purchase option on the fee position and also recapitalize its equity.

Meridian Capital Group negotiated the loan on behalf of the sponsor with a team led by Adam Hakim, James Murad and David Baker. 

Located at 45-20 83rd Street in Elmhurst, Queens, the property includes a newly built 67,286-square foot, five-story educational facility plus a neighboring 142,000 square feet of zoning floor area residential development site. The educational facility has been leased to The Renaissance Charter School II

“The closing of this loan demonstrates the ability of these two lenders to get comfortable with a unique mix of asset types and provide a structure that capitalized the purchase of the fee interest in the property while simultaneously recapitalizing the equity and locking in a fixed rate in a rising-rate environment,” Hakim said in a prepared remark. 

Officials at Barone Management did not immediately respond to a request for comment.

Emily Fu can be reached at efu@commercialobserver.com

Barone Management has landed $67.8 million in financing to recapitalize an educational facility and neighboring residential development site in Queens, Commercial Observer can first report.  Metropolitan commercial Bank provided a senior mortgage, while Columbia Pacific Advisors provided preferred equity in the deal. Barone Management will use the debt to execute its purchase option on theRead MoreChannelFinance, Refinance, 45-20 83rd Street, Adam Hakim, Barone Management, Columbia Pacific Advisors, David Baker, James Murad, Meridian Capital Group, Metropolitan commercial Bank, The Renaissance Charter School II

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ROBERT KHODADADIAN – COMMERCIAL OBSERVER

Robert Khodadadian – Commercial Observer Trammell Crow Company’s Adam Weers was once a boxer for a time. Today, he applies some of the same drive and focus he once summoned in the ring to make the firm’s development business pack a similar one-two punch — more important than ever in arapidly changing market environment.  Founded in 1948, TCC has 

Trammell Crow Company’s Adam Weers was once a boxer for a time. Today, he applies some of the same drive and focus he once summoned in the ring to make the firm’s development business pack a similar one-two punch — more important than ever in a rapidly changing market environment. 

Founded in 1948, TCC has since developed or acquired a portfolio of roughly 2,900 buildings valued at $75 billion, employing 700 professionals across 26 cities in the U.S. and Europe.

Weers joined the company 17 years ago, and was named chief operating officer in April 2021. His new role is a culmination of two critical business components he’s gravitated toward since joining the firm: development and mentorship/recruiting.  As head of the firm’s diversity, equity and inclusion (DEI) steering committee, Weers is focused not only on increasing diversity within TCC’s own ranks but also on forming partnerships with other like-minded, DEI-focused organizations to effect real change. 

Commercial Observer caught up with Weers last month to find out how he’s settled in to the new role, and what’s the equivalent of taking the championship belt in CRE. 

The interview has been edited for length and clarity. 

Commercial Observer: Where did you grow up?

Adam Weers: I grew up just south of Seattle in Renton [Wash.] and then did my  undergrad at Morehouse College in Atlanta, where I was an accounting major. I actually started my career in public accounting, not in real estate.  I worked for Deloitte in Atlanta in audit for four years, went to Harvard Business School [HBS] and that’s where I made my Trammell Crow connection. 

How did it come about? 

A bunch of Trammell Crow Company [TCC] people were on campus, recruiting at HBS,  and I was just enamored by the idea of commercial real estateIended up doing a field study during my last semester at HBS with the D.C. office of TCC, researching new market tax credits, and when I started my career here that was also part of my role, but I was also working on development in and around the mid-Atlantic region. 

An interesting fact about the start of my career is that I didn’t really know that commercial real estate was an option for me until I got into the business when I was 27 years old. That has always stuck with me and, when you look at our DEI platform today, I’m particularly proud of the fact that we’re able to expand it to partnerships with organizations that are focused on the idea of increasing the pipeline of diverse talent in our Industry, because I’m a poster child in a way.  

How was that experience for you, in terms of realizing it was indeed a career option?  

A big part of what made it all happen is the company itself has a very welcoming culture to people who don’t come from real estate backgrounds. There’s along history within TCC of finding people who are in other industries and transition into real estate. From my perspective, it was both exciting and scary. It was exciting because there are a lot of things about development that I really liked — and I’m still here 17 years later— but scary because I didn’t have areal estate background, and there were some basic things that were just totally foreign to me, like the entire construction process. 

I came in as someone who didn’t know much, and was asking all kinds of questions, sitting in on meetings and, to be honest, not adding a whole lot of value, just learning. The firm has always been completely comfortable with that, and so I keep that front of mind now as we do our recruiting process. We are cognizant of casting a wider net, and recruiting the best and brightest no matter where they are — including people who don’t necessarily have a real estate background, but we think might be great. 

How far do you think we’ve come these past 17 years, in terms of creating an environment where women and minorities feel more inclined to pursue acareer in real estate

There’s definitely been a lot of progress, and there’s definitely a way to go. We re-
established our DEI initiatives in 2011, so we’ve spent a long time thinking about this and working on it.  We’ve done some things, realized that they didn’t work and then had to get better. 

We think about it as two sides of a coin today. One side is attraction — how do we recruit diverse talent — and the other side is retention for the diverse professionals that we brought into the firm and making TCC an inclusive place where people want to stay and can thrive. As an Industry, we just have to keep getting better. That means casting a wider net, but then there’s a whole other layer, which is the importance of having more diverse voices in the leadership ranks. That’s the part of this journey that really is a journey. 

For the majority of the time, our DEI efforts have been internally-facing, but there was a line in the sand that divided things into chapter one and chapter two for us, and that was the murder of George Floyd. We completely changed our view of what our DEI initiatives are all about, and we added on an externally-
facing component. 

So, if you look at our DEI platform today, all of the internal work is still there, but we also have a focus on the impact we have on the communities in which we operate, how we have an impact on the Industry that we are in from a DEI perspective, and how we assume and maintain a leadership role in conversations about DEI. That is really important, because it’s not just the demographics and the makeup of the firms in our Industry; it’s also about the work that we’re doing and how we’re truly operationalizing our commitment to DEI.  

But I will tell you, what’s fascinating to me, and really exciting, is that we are also now hearing a lot of interest from our occupier and capital partner clients on this topic, and we can show up to a conversation with our partners and say, “Hey, by the way, this is something that we are doing. Would you like to do it with us?” and bring them in. 

In June, TCC made a $500,000 contribution to The Toigo Foundation to support its efforts to promote the recruitment and retention of minority talent within real estate. Why was that important? 

Within our overall DEI platform, we break ourselves into three different groups: company, community and Industry. And, within the Industry team, our focus is on forming partnerships with other like-minded organizations throughout the commercial real estate Industry who are doing really good work on the DEI front, including Project Destined and Urban Land Institute. Travis Melvin — a senior associate here in D.C. —is a Toigo alum and offered up Toigo as apotential partner. It’s a really powerful platform in helping make sure that diverse talent gets into top business schools, and then is placed in careers in Finance and real estate

We then also created a program that we call  TCC Scholars. It is a combination of a summer internship and a scholarship component. So, we are able to both support the organization and also enhance our own diversity recruiting efforts. It’s very exciting, and something that we’re thinking about replicating with other organizations. 

What’s been the reception to this partnership, now that you’ve launched it?

Fantastic. I couldn’t be more proud of the level of excitement with the Toigo partnership but, honestly, with all of our partnerships that my TCC teammates are involved in. The goal is to find the organizations that are doing the work, and help to amplify them and help them do more work, but also connect our TCC teammates all across the country to that work. 

[Through this] we’re finding ways to get access to talent earlier. I probably shouldn’t give this away, but this is a crop of new talent coming into the business; Hines hasn’t met them yet, Prologis doesn’t know that they’re out there yet, and we’re spending time with them, helping them understand who we are, and also recruiting. I actually think this is a really smart business plan. We are copying an existing model that Goldman Sachs uses, but a lot of real estate folks don’t use. 

Which part of TCC’s business did you gravitate toward in the early years?  

If you look at my track record from a development project standpoint, you’d see industrial, multifamily apartment, condoretail, health care, all these different things. Then, over the years, almost organically, I found myself raising my hand for things that aren’t actually tied to the development projects but are, in a funny way, very central to the role that I have today. Greg Ames — who now runs our L.A. business unit — and I created this program that we call TC Connections in 2012, so I helped work on and shape and stand up a mentoring program that we still have in place today. Then, when we re-established our DEI initiative in 2011, I raised my hand again. I’m still in a development role, but I’m also working on recruiting and mentorship.  

I wasn’t smart enough to see this beforehand [laughs] but when this [COO role] opportunity came up and my predecessor was retiring it made sense for me. Other people saw it, I didn’t, but it was really helpful for me to think about it with the realization I’ve actually been doing some of this work all along. 

You joined TCC in 2005 and the world fell apart in 2008. How was that experience for you? 

The Great Financial Crisis [GFC] was an interesting ride for sure. On the other side of it, it was a real advantage to have that come early in my career, although it certainly didn’t feel good at the time because I started two and a half years before the bottom fell out. Riding that out was incredibly important and impactful in teaching me what it means to do sound development, and to be more responsible in how we underwrite and choose the projects that we work on. 

There were also lessons that certain projects taught me because we went through a point in the cycle where some of our projects did not go well at all. Not only did they not go to plan or pro forma, there were some instances where we didn’t get our money back. That taught me a lot about the importance of the partnerships that we have.

Id encapsulate a lot of my GFC experience in a project called the Gateway Grand, which is a luxury condo building in Ocean City [Md.]. Really big, wonderful project. We delivered it in July of 2008 — and we’re talking 196 luxury oceanfront condos— two months before Lehman Brothers collapsed. It was arough ride and it didn’t take very long before we realized we weren’t going to get our money back. But we spent years and a tremendous amount of effort working to make sure our investment partner got their money back. They didn’t make much profit, if any, but they got their money back. That lesson was really important because if you  pull up the top 10 list of our most frequent repeat capital partners today that group is still in there. 

Adam Weers. PHOTO: Jonathan Thorpe/for Commercial Observer

How did the COVID-aggravated market disruption compare? 

Well, during COVID I had the unique experience of working on what was at the time the largest remaining retail project in our portfolio: The Shops at Dakota Crossing — a 40,000-square-foot power center in northeast D.C. We sold it earlier this year, so we no longer own it, but that experience was pretty wild, and absolutely an exercise in partnership, because we went through this very bizarre time where tenants couldn’t pay rent and nobody knew what was happening, so the only way we were going to survive was if everybody overcommunicated and took a partnership approach. It was super stressful, but we made it through and didn’t lose a single tenant. And, if you look at that asset today, you would never know that it went through the pain and anguish that we went through in 2020 with it. 

There were some interesting parallels between COVID and the GFC, but the key difference is the market disruption just didn’t last as long. And, if you think about our overall portfolio in 2020, TCC as a company had a phenomenal year that was fueled by our industrial business, which was like rocket fuel. all of asudden you couldn’t build warehouses fast enough. It was a wild ride.

With a recession likely around the corner, how is TCC positioned to withstand what’s ahead?  

We have the benefit of having a really strong platform; we have a diversified portfolio with a track record of success, and our pipeline right now comprises industrial, multifamily and office that is heavily weighted toward life sciences. The second part is there was a strategic decision made after the GFC to slim down the markets we were focused on to those that we really believe in, and make sure that we build a level of expertise in those markets that makes us the best of the best wherever we decide that we’re going to play. 

In terms of  the next couple of years, are there any goals you’re setting for yourself or the company? 

From a platform standpoint, our primary goals are to continue to focus on the main product types that I was just talking about — industrial, multifamily, the office and life sciences.  I do think we are still interested in growth, despite the fact that we’re going into a different market. We’re still examining markets that we’re not in today, considering growing into new geographic places and analyzing the potential for new product types. We’re thinking about growth in aresponsible way, but we have the ability, we have the strong foundation, and we also have the resources through our parent company. 

Personally, one of my hopes and goals for the next few years for our DEI platform is to just continue the momentum that we’ve built in a really fascinating way in the last two years, with this idea of translating our commitment and our talk into action. I think we’re just getting started and there’s a lot more we can do, so that’s an area I’m thinking about over the next few years. 

To touch on something you mentioned before, how do we get to the point where we see more women and minorities in senior leadership positions within commercial real estate?

I think it comes down to things like what you and I are doing here today. I think we need to shine a light on those of us who are here, because there aren’t alot of us, but those who are need to get out there [in the public eye]. I think that’s a big part of it. 

I don’t know if you know Myers Briggs, but I’m an INTJ [the Architect: Introverted, Intuitive, Thinking and Judging] . So, I don’t innately want to be up front or on the stage, but I had to learn to be. I’ve had people who have told me very clearly that it’s important for me to be out in the public eye so that other people can see that I am an example, and that achieving that role is absolutely possible. And so I’m willing to do it because I know it’s really important. Even though, if you gave me the choice, I would probably choose not to [laughs]. 

Then, I think it’s a case of continuing to hold people accountable for building the pipeline, continuing to do the recruiting and the retention work that needs to be done in our organizations, and  saying “OK, this might take time, but you need to stay committed.” Because if you stay committed over time, it will change; but if you don’t stay committed over time it’s never going to change. I think we’re all getting a little better but we can still improve in a lot of areas. And when you see impact reports and more of us being willing to share information, I think that will be a really good sign because now we can start to measure all this to see how everybody is making progress. And, if there are people who aren’t as committed, if their clients tell them this is important, if their tenants tell them this is important, and if their capital partners say this is important stuff ? It’s going to happen.

You were a boxer in the past. Tell us about that.

I was an amateur boxer for several years and competed in a number of national tournaments, including the Ringside World Championships in 2016 and 2017. I haven’t competed since 2017, which is something my wife is very happy about; I don’t have much time for it these days, unfortunately. Between my soon-to-be 11-month-old son, who keeps my wife and I very busy, and work, it’s hard to find time to do anything other than hit the heavy bag hanging on my back patio. I definitely miss it, but it was a fun chapter in my life and one that I look back on fondly. 

Fun fact: I also spent a few years as the chairman of the D.C. Combat Sports Commission, which was a great experience and a fantastic way to stay connected to the sport after my competition days were over.

Are there any commonalities between CRE and the boxing ring? 

There are many parallels between boxing and life, and certainly some commonalities with today’s commercial real estate environment. I can think of several traits to describe the current CRE landscape — chaotic, uncertain, dynamic— that are directly applicable to the environment inside the ring. 

I also see parallels between the two worlds in the fact that there are basic, foundational principles that you can rely on as strategies to succeed and thrive. In real estate, that includes things like site location, forward-thinking design/planning, and underlying demand drivers of your building occupants. In boxing, Iwould equate that to things like footwork, hand position, vision, conditioning and breath work. all of these things are pretty basic in and of themselves, but if you are disciplined and dedicated enough to stay focused and master them, you’ll win a lot of fights.

Trammell Crow Company’s Adam Weers was once a boxer for a time. Today, he applies some of the same drive and focus he once summoned in the ring to make the firm’s development business pack a similar one-two punch — more important than ever in a rapidly changing market environment.  Founded in 1948, TCC hasRead MoreChannelmore, Players, Adam Weers, DEI, Toigo Foundation, Trammell Crow Company

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CITY PUTS $14B PRICE TAG ON RECTIFYING ILLEGAL BASEMENT APARTMENTS – ROBERT KHODADADIAN

Getting illegal basement apartments up to code is going to run up more than the Big Apple a large chunk of change. City Hall estimated it would take $13.7 billion to get the roughly 50,000 units up to code, the New York Post reported. The price tag is part of a draft report making its way to the federal government for a $188 million aid package after Hurricane Ida killed at least 13 people and Robert Khodadadian is an experienced commercial real estate broker in New York City and founder of Skyline PropertiesSkyline Properties specializes in off-market or … 

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ROBERT KHODADADIAN – COMMERCIAL OBSERVER

Robert Khodadadian – Commercial Observer Lovett industrial has sealed its first Southern California deal: the acquisition of a 13-acre property in suburban Los Angeles for $51 million, Commercial Observer can first report.  The Houston-based developer, which formed two years ago, closed the all-cash deal with Vancouver Investment Fund as a limited partner for the land on 27260 Meines Street in 

Lovett industrial has sealed its first Southern California deal: the acquisition of a 13-acre property in suburban Los Angeles for $51 million, Commercial Observer can first report. 

The Houston-based developer, which formed two years ago, closed the all-cash deal with Vancouver Investment Fund as a limited partner for the land on 27260 Meines Street in Highland, Calif., roughly 65 miles east of downtown L.A

The large site, where Lovett is planning a 285,000-square-foot warehouse, had six previous owners. KCB Towers was the largest seller, having previously held 7.5 of the 13 acres.

Lee & Associates’ Austin Hill, Tyler Plata and Holden Edmondson arranged the transaction out of the brokerage firm’s Ontario, Calif., office

Tyler Banton, who leads Lovett’s Southern California development and acquisitions in L.A., noted that the eastern part of the Inland Empire has experienced major rent growth in recent years, which made this acquisition attractive. He said the Inland Empire’s west region closer to L.A. has very little open space, which has driven much of the momentum in the east. 

“The supply demand dynamics in California remain really strong, and it’s mostly due to the high barriers of entry in our market and the difficulty of entitling projects,” Branton said. “We continue to see preleasing on projects under construction, and that is largely due to the 0.20 percent market vacancy.” 

Banton said Lovett will continue its Southern California deal activity and expects to see more than $100 million of transactions close by the end of the year. The firm has a pipeline of 30 million square feet of transactions lined up nationally, he said. 

“We’re a newer company that has highly experienced people and is on an incredibly fast track of growth,” Banton said. “For about six months we saw people put pencils down, and we capitalized on that opportunity to pick up great locations at discounts. I’m seeing our competitors come back into the market, and we believe things are beginning to stabilize.” 

Andrew Coen can be reached at acoen@commercialobserver.com

Lovett industrial has sealed its first Southern California deal: the acquisition of a 13-acre property in suburban Los Angeles for $51 million, Commercial Observer can first report.  The Houston-based developer, which formed two years ago, closed the all-cash deal with Vancouver Investment Fund as a limited partner for the land on 27260 Meines Street inRead MoreacquisitionChannelFinance, KCB Towers, Lee & Associates, Lovett industrial, Tyler Banton, Vancouver Investment Fund

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ROBERT KHODADADIAN – COMMERCIAL OBSERVER

Robert Khodadadian – Commercial Observer Proptech firm VTS closed on a $125 million funding round led by CBRE, bringing its valuation to $1.7 billion, the Wall Street Journal first reported. VTS’ latest fundraising comes as a wave of firms, including coworking giant WeWork, jump into developing office software to help tenants and landlords manage hybrid workspaces as many companies call 

Proptech firm VTS closed on a $125 million funding round led by CBRE, bringing its valuation to $1.7 billion, the Wall Street Journal first reported.

VTS’ latest fundraising comes as a wave of firms, including coworking giant WeWork, jump into developing office software to help tenants and landlords manage hybrid workspaces as many companies call their workers back after Labor Day.

Brokerage CBRE gave VTS $100 million as part of the Series E round and will get a seat on the proptech firm’s board of directors, VTS said. 

VTS started in 2012 as a leasing and asset management platform. It was crowned a unicorn in 2019 after closing on a $90 million fundraising round and since has boosted its platform to help landlords manage the post-pandemic return to work.

Last year, VTS paid roughly $100 million to pick up startup Rise Building, which develops an app to control operations and tenant experience in properties. Then it bought Lane Technologies, which created apps for workers to manage their day-to-day office needs, including booking conference rooms, for $200 million.

The new funding will let VTS “double down” on its efforts to increase its product offerings “to offer a completely tailored property experience to [customers’] tenants across their entire portfolios,” VTS CEO Nick Romito said in a statement. The money will alsohelp the proptech firm — which said it’s currently used in more than 87,000 properties worldwide — expand its teams in the U.S., U.K. and Canada.

Aside from the new fundraising — which also includes investments by BentallGreenOak, AmTrust, Brookfield Ventures and Insight Partners — VTS also secured $150 million in debt financing from Canadian lender CIBC Innovation Banking, VTS said.

Nicholas Rizzi can be reached at nrizzi@commercialobserver.com.

Proptech firm VTS closed on a $125 million funding round led by CBRE, bringing its valuation to $1.7 billion, the Wall Street Journal first reported. VTS’ latest fundraising comes as a wave of firms, including coworking giant WeWork, jump into developing office software to help tenants and landlords manage hybrid workspaces as many companies callRead MoreChannel, Technology, CBRE, Nick Romito, VTS

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MANHATTAN LUXURY MARKET HITS LABOR DAY HIGH – ROBERT KHODADADIAN

Manhattan’s luxury market welcome the unofficial end of summer on a high, beating a 10-year average for the week before Labor Day. The borough saw 20 contracts signed last week at $4 million and above, above the average of 17 signed contracts, according to a weekly report by Olshan Realty. The priciest home to enter into contract was the fifth floor at KUB Capital’s 150 Wooster Street, asking $18 million. The seller purchased the loft-style Robert Khodadadian is an experienced commercial real estate broker in New York City and founder of Skyline PropertiesSkyline Properties specializes in off-market or … 

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MADISON AVENUE RETAIL ACTIVITY RISING – ROBERT KHODADADIAN

An iconic Manhattan retail corridor is touting a slew of new activity inked this summer. Madison Avenue’s retail recovery lagged behind other sections of the city in the wake of the pandemic, hindering a corridor known for some of the priciest retail rents in the city. Data from Orbital Insight showed the corridor stretching from 57th Street to 72nd Street last summer saw only 71 percent of its foot traffic from 2019. However, a report Robert Khodadadian is an experienced commercial real estate broker in New York City and founder of Skyline PropertiesSkyline Properties specializes in off-market or … 

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VTS RAISES $125M IN CBRE-LED FUNDING ROUND – ROBERT KHODADADIAN

Proptech unicorn VTS scored $125 million in its latest funding round, marking CBRE’s largest bet yet on the technology provider at a critical time for office owners.​ The software and data firm received a $100 million from CBRE as part of the round led by the commercial giant, the Wall Street Journal reported. CBRE will get a board seat as a result of its investment, which raised the firm’s valuation to $1.7 billion. CBRE first Robert Khodadadian is an experienced commercial real estate broker in New York City and founder of Skyline PropertiesSkyline Properties specializes in off-market or … 

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CENTURY-OLD SAGAPONACK ESTATE HITS MARKET FOR $22M – ROBERT KHODADADIAN

One of Sagaponack’s oldest summer estates has hit the market — a rare occasion for the property, which has changed hands just twice in the last 120 years. The four-acre compound near the intersection of Sagaponack Main Street and Hedges Lane is asking $21.5 million, Mansion Global first reported. The property includes a 19th-Century shingled main house, a guest house, a carriage house and a 1.4-acre “wild conservation grove of specimen trees,” according to the Robert Khodadadian is an experienced commercial real estate broker in New York City and founder of Skyline PropertiesSkyline Properties specializes in off-market or … 

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BIG TECH’S STRUGGLES THREATEN TAX BREAKS THAT PROPPED UP NYC OFFICES – ROBERT KHODADADIAN

In the heyday of ping pong and free lattes in the workplace, many of the city’s fastest-growing startups paid for their high-priced office space with help from the state in the name of economic development. One-time unicorns like Peloton, Snap and Casper agreed in recent boom years to create hundreds of jobs in exchange for tax credits offered under the state’s lucrative but controversial Excelsior Jobs Program, which aims to keep jobs from leaving the Robert Khodadadian is an experienced commercial real estate broker in New York City and founder of Skyline PropertiesSkyline Properties specializes in off-market or … 

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RONKONKOMA MEGA-DEVELOPMENT TO DROP ARENAS – ROBERT KHODADADIAN

The massive Midway Crossing redevelopment is set to cross arenas off its list. Engineer John Cameron said JLL would be willing to strike the two arenas from its $2.8 billion megaproject in Ronkonkoma, Newsday reported. Elected officials and Suffolk County residents opposed the venues because of traffic concerns. Legislator Trish Bergin said lawmakers and JLL spent days in negotiations about scaling down Midway Crossing, ultimately compromising on an arena-free project. In a common refrain for Robert Khodadadian is an experienced commercial real estate broker in New York City and founder of Skyline PropertiesSkyline Properties specializes in off-market or … 

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PRIVATE EQUITY FIRMS ARE BETTING BIG ON NEW YORK APARTMENTS – ROBERT KHODADADIAN

Just before Manhattan rents started soaring at the start of the year, Blackstone Group agreed to buy a Frank Gehry-designed apartment tower in the Financial District for $930 million. Across the East River, KKR has spent more than $1 billion in the past two years to become one of the biggest owners of newer tax-exempt apartment buildings in Brooklyn. And Carlyle Group has quietly amassed a portfolio of small, mom-and-pop-style buildings in the borough worth Robert Khodadadian is an experienced commercial real estate broker in New York City and founder of Skyline PropertiesSkyline Properties specializes in off-market or … 

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CHEAPER BY THE EURO: US BUYERS SNAP UP EUROPEAN HOMES – ROBERT KHODADADIAN

U.Shome buyers are finding a bright spot as markets stagnate and inflation accelerates: Europe, where a weak euro is luring expats to places like London, Paris, Provence, Tuscany, Lake Como and Lisbon. As the dollar hovers near parity with the euro and climbs against other currencies, buyers are getting more bang for their buck overseas, the Wall Street Journal reported, citing a report from Knight Frank. One buyer, Boca Raton interior designer Laetitia Laurent, Robert Khodadadian is an experienced commercial real estate broker in New York City and founder of Skyline PropertiesSkyline Properties specializes in off-market or … 

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WRIGLEY GUM HEIR SELLS ASPEN ESTATE FOR $30M – ROBERT KHODADADIAN

William Wrigley Jr., the heir to the Wrigley Gum fortune, sold his Aspen estate for $30 million. The 7,500-square-foot mansion was purchased by a trust tied to the Richter family, the Wall Street Journal reported. Wrigley is the great-grandson and namesake of William Wrigley Jr., who founded the chewing gum empire in 1891. The contemporary Wrigley Jr. is the former CEO of Wrigley Company, which Mars bought for $23 billion in 2008. Brokers Riley Warwick Robert Khodadadian is an experienced commercial real estate broker in New York City and founder of Skyline PropertiesSkyline Properties specializes in off-market or … 

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IMAGINE: JOHN LENNON FAMILY HOME UP FOR AUCTION – ROBERT KHODADADIAN

Imagine all the people living in John Lennon’s former family home. The Liverpool property is up for grabs, headed to a virtual auction, the BBC reported. The three-bedroom house on Blomfield Road is being sold to the highest bidder by Omega Auctions. Lennon’s mother, Julia, was the main inhabitant of the home, living there from 1950 until her accidental death in 1958. Other residents at the so-called “House of Sin” — dubbed by Lennon’s aunt Robert Khodadadian is an experienced commercial real estate broker in New York City and founder of Skyline PropertiesSkyline Properties specializes in off-market or … 

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HUDSON VALLEY’S GUNKS ROILED BY NOISE, ENVIRONMENTAL DISPUTES – ROBERT KHODADADIAN

It may take a smarter-than-average bear to settle land and environmental disputes revolving around a glamping club and a Yogi Bear-themed campground in the Hudson Valley. Local residents are complaining that Yogi Bear’s Jellystone Park Camp in Gardiner, near Shawangunk Ridge, affectionately known as “the Gunks,” is too noisy and fails to comply with local permits, the Times-Union reported. Neighbors also say an exclusive glamping resort violates town codes and that it’s too close to Robert Khodadadian is an experienced commercial real estate broker in New York City and founder of Skyline PropertiesSkyline Propertiesspecializes in off-market or … 

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GREECE IS GETTING A GIANT MALL – ROBERT KHODADADIAN

The distressed state of shopping malls hasn’t dissuaded a developer from building Greece’s largest retail complex. Lamda Development is leading an $8 billion project that spans a range of property types in service of a 30,000-person mini city, the Wall Street Journal reported. One component is a 2 million-square-foot retail hub, the nation’s biggest. The project, south of Athens at the site of Ellinikon International Airport until it was closed in 2001, will include waterfront Robert Khodadadian is an experienced commercial real estate broker in New York City and founder of Skyline PropertiesSkyline Properties specializes in off-market or … 

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CHINA PROPERTY MARKET SLIDING INTO DEEP DEPRESSION – ROBERT KHODADADIAN

China’s property market is struggling. Country Garden Holdings, ranked for years as China’s top real estate developer by contracted sales, reported a 96 percent drop in first-half profits, the Wall Street Journal reported. And the company’s home sales are down by one third versus the previous year. Anemic demand, lowered expectations and declining property values, have contributed to the struggling market, the Guangdong-based company told the outlet. “all these exert mounting pressure on all participants Robert Khodadadian is an experienced commercial real estate broker in New York City and founder of Skyline PropertiesSkyline Properties specializes in off-market or … 

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NEW RENT REGULATIONS WOULD SQUEEZE LANDLORDS EVEN MORE – ROBERT KHODADADIAN

Tenant advocates call it a loophole. Owners of rent-stabilized buildings call it their last hope. Landlords’ ability to set the initial rent when they combine rent-stabilized apartments was among the few pro-owner provisions spared by the state’s rent law reform of 2019. Now it stands to be eliminated under a new proposal by the state. The Division of Homes and Community Renewal, which oversees rent regulation, this week also floated other changes that landlord groups Robert Khodadadian is an experienced commercial real estate broker in New York City and founder of Skyline PropertiesSkyline Properties specializes in off-market or … 

READ more“New rent regulations would squeeze landlords even more– Robert Khodadadian

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STREETWEAR CONSIGNMENT SHOP LANDS 8K SF AT 1 WEST 34TH STREET – ROBERT KHODADADIAN

The used sneaker trade went bigtime a while ago. Now one of the retailers it spawned will try to make a similar leap. Legacy, a consignment shop with a small store in Willow Grove, Pennsylvania, has signed along-term lease for 8,000 square feet at 1 West 34th Street. The location, at the corner of Fifth Avenue and opposite the Empire State Building, will give it a high-profile venue to buy and sell such brands Robert Khodadadian is an experienced commercial real estate broker in New York City and founder of Skyline PropertiesSkyline Properties specializes in off-market or … 

READ more“Streetwear consignment shop lands 8K sf at 1 West 34th Street – Robert Khodadadian

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OAK STREET OFFERS $2B ON KOHL’S REAL ESTATE – ROBERT KHODADADIAN

Struggling retailer Kohl’s is targeting another chance to cash in on its real estate portfolio. Private equity firm Oak Street real estate Capital is offering between $1.5 billion and $2 billion for Kohl’s properties, Reuters reported. People familiar with the deal told the outlet Kohl’s would lease its stores back from Oak Street. The two sides have met in recent days to discuss a possible deal, according to the outlet. Kohl’shas 1,100 stores in Robert Khodadadian is an experienced commercial real estate broker in New York City and founder of Skyline PropertiesSkyline Properties specializes in off-market or … 

READ more“Oak Street offers $2B on Kohl’sreal estate– Robert Khodadadian

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“MIAMI-ED OUT”: THESE NEW YORKERS HAVE HAD ENOUGH OF SOUTH FLORIDA – ROBERT KHODADADIAN

As Labor Day ushers in another push for workers to return to the office, brokers say New Yorkers who decamped to Florida during the pandemic are reversing course. But back-to-work mandates aren’t the sole catalyst. Some just want out of the Sunshine State. “Florida was not exactly what we thought it was going to be,” one couple told Rex Gonsalves, an agent at Brown Harris Stevens helping a number of clients condo hunt in New Robert Khodadadian is an experienced commercial real estate broker in New York City and founder of Skyline PropertiesSkyline Properties specializes in off-market or … 

READ more““Miami-ed out”: These New Yorkers have had enough of South Florida – Robert Khodadadian

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GOOGLE BOSS SAYS HE’S A BELIEVER IN NYC OFFICES – ROBERT KHODADADIAN

Don’t bother plugging “biggest believers in New York City’s tech future” into your favorite search engine: Google already has the answer. The tech giant’s chief executive, Sundar Pichai, said he’s optimistic about the company’s prospects in the Big Apple, where it expects to continue growing its presence, Crain’s reported. “I’m personally long-term bullish on our growth in New York as a company,” Pichai told the publication. “And we would do that only if we’re optimistic Robert Khodadadian is an experienced commercial real estate broker in New York City and founder of Skyline PropertiesSkyline Properties specializes in off-market or … 

READ moreGoogle boss says he’sabeliever in NYC offices– Robert Khodadadian

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NEW YORK POLS REVIVE PUSH TO KILL BROKER FEES – ROBERT KHODADADIAN

New York’s on-again, off-again relationship with brokers fees may be headed toward another breakup. New York Sen. Jabari Brisport broached the issue in a Thursday morning tweet: “Tenants should not pay brokers fees,” he wrote. “The landlord hires the broker. The landlord should pay the broker.” “[Assembly member Zohran Mamdani] and I have a bill for this,” Brisport concluded. The lawmakers are two of ahandful in the state legislature who are affiliated with the Robert Khodadadian is an experienced commercial real estate broker in New York City and founder of Skyline PropertiesSkyline Properties specializes in off-market or … 

READ more“New York pols revive push to kill brokerfees – Robert Khodadadian

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BANK OF AMERICA PILOTING NO-DOWN PAYMENT MORTGAGES – ROBERT KHODADADIAN

Bank of America is attempting to close the disparity between Black and white home ownership with a pilot program aimed at helping first-time buyers in Black and Hispanic neighborhoods. The bank’s Community Affordable Loan Solution trial program will offer mortgages to first-time homeowners in certain predominantly Black and Hispanic neighborhoods, the New York Times reported. The program is being tested in several cities, including Dallas, Los Angeles and Miami. Applicant eligibility will be determined by Robert Khodadadian is an experienced commercial real estate broker in New York City and founder of Skyline PropertiesSkyline Properties specializes in off-market or … 

READ more“Bank of America piloting no-down payment mortgages – Robert Khodadadian

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MANHATTAN OFFICE LEASING HAS BUSIEST MONTH OF COVID ERA – ROBERT KHODADADIAN

Companies still want a piece of Manhattan. Some 3.4 million square feet of office space was leased in August, the most since January 2020, when the first Covid cases began to pop up in New York City, according to a Colliers’ report. Notably, space in Midtown is steadily getting harder to find. more space was newly leased than became available in Manhattan’s central business district decreased for the sixth straight month, as was the case Robert Khodadadian is an experienced commercial real estate broker in New York City and founder of Skyline PropertiesSkyline Properties specializes in off-market or … 

READ more“Manhattan officeleasing has busiest month of Covid era – Robert Khodadadian

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FEDS SEARCH RUSSIAN OLIGARCH’S SOUTHAMPTON, 515 PARK AVENUE HOMES – ROBERT KHODADADIAN

The FBI and Homeland Security came calling at New York properties tied to Russian oligarch Viktor Vekselberg. Federal agents and NYPD detectives conducted a search of Vekselberg’s properties at 515 Park Avenue in Manhattan and 19 Duck Pond Lane in Southampton, NBC New York reported. Agents were seen carrying boxes during a search of the properties. Zeckendorf Development built the 57-unit condobuilding on Park Avenue in Lenox Hill. In March, two other Russian billionaires, Robert Khodadadian is an experienced commercial real estate broker in New York City and founder of Skyline PropertiesSkyline Properties specializes in off-market or … 

READ more“Feds search Russian oligarch’sSouthampton, 515 Park Avenue homes – Robert Khodadadian

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SOFTBANK’S LOSSES ON COMPASS WERE $540M AS OF AUGUST. THE BROKERAGE’S STOCK HAS FALLEN BY A THIRD SINCE THEN. – ROBERT KHODADADIAN

Masa Son’s SoftBank made what it hoped would be a transformative bet on residential brokerage through its investment in Compass. It’s a bet that has proven extraordinarily costly. The Japanese investment giant’s Vision Fund disclosed on Aug. 5 that its stake in Compass, for which it pumped in $1.08 billion over three funding rounds, was worth just $543 million as of Aug. 5., wiping out about half its investment. And the current value is likely Robert Khodadadian is an experienced commercial real estate broker in New York City and founder of Skyline PropertiesSkyline Properties specializes in off-market or … 

READ more“SoftBank’slosses on Compasswere $540M as of August. The brokeragesstock has fallen by athird since then. – Robert Khodadadian

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RXR SUES CONSTRUCTION MANAGER OVER SHODDY INSTALLATION IN NEW ROCHELLE – ROBERT KHODADADIAN

RXR Realty has sent a clear message to Hudson Meridian construction Group: Clean up your mess at our luxury residential property in New Rochelle or fork over the millions necessary to fix things up. Scott Rechler’s firm is suing Hudson Meridian for improper construction of RXR’s 360 Huguenot mixed-use development in the Westchester County town, according to a lawsuit filed Thursday in Manhattan. The construction manager’s “defective installation” of waterproof membranes in the building caused Robert Khodadadian is an experienced commercial real estate broker in New York City and founder of Skyline PropertiesSkyline Properties specializes in off-market or … 

READ more“RXR sues constructionmanager over shoddy installation in New Rochelle – Robert Khodadadian

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TRIBECA BUYER ACCUSES CORCORAN BROKER OVER DOORMAN MARKETING – ROBERT KHODADADIAN

No doorman? Well, big problem. The buyer of a luxury penthouse in Tribeca is accusing a Corcoran broker of marketing the property without disclosing the building did not have a full-time doorman. Kara Dille, who purchased a $19 million penthouse at 37 Warren Street, filed the lawsuit Wednesday in state Supreme Court in Manhattan, Crain’s reported. After signing a contract for the unit in March, Dille figured out the apartment building has a part-time doorman Robert Khodadadian is an experienced commercial real estate broker in New York City and founder of Skyline PropertiesSkyline Properties specializes in off-market or … 

READ more“Tribeca buyer accuses Corcoran brokerover doorman marketing – Robert Khodadadian

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TRD PRO: NYC’S BIGGEST OFFICE LEASES OF JULY – ROBERT KHODADADIAN

The following is a preview of one of the hundreds of data sets that will be available on TRD Pro — the one-stop real estate terminal that provides all the data and market information you need. After two years of stops and starts, Manhattan’s office market appears to be on a bit of a hot streak. Leasing activity in the borough has set a new post-pandemic high for three consecutive months, according to data from Robert Khodadadian is an experienced commercial real estate broker in New York City and founder of Skyline PropertiesSkyline Properties specializes in off-market or … 

READ moreTRDPro: NYC’sbiggest officeLeasesof July – Robert Khodadadian

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THE WORLD IS RUNNING OUT OF SAND, AND IT’S ALREADY AFFECTING REAL ESTATE – ROBERT KHODADADIAN

Crown Prince Mohammed bin Salman dreams of building two 100-mile-long skyscrapers in the desert, a pair of mirror-encased, parallel lines running through the sand. The project, appropriately dubbed “the Line,” is part of the Saudi government’s planned $500 billion megacity near the Gulf of Aqaba, east of Egypt. The vision is fanciful for a few reasons. If realized, the linear, carless utopia with high-speed underground trains would generate zero carbon emissions and house 9 million Robert Khodadadian is an experienced commercial real estate broker in New York City and founder of Skyline PropertiesSkyline Properties specializes in off-market or … 

READ more“The world is running out of sand, and it’salready affecting real estate– Robert Khodadadian

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REVLON RELEASED FROM 200 PARK AVENUE SOUTH LEASES – ROBERT KHODADADIAN

As Revlon goes through a massive company makeover in the form of bankruptcy proceedings, the company secured its requested exit from 200 Park Avenue South. Thecosmetics company received approval from a judge to exit a pair of Leases at ABS Partners’ Everett Building, Crain’s reported. The two Leases encompass nearly 46,000 square feet. Revlon asked to leave the Leases a couple of months ago as part of Chapter 11 bankruptcy proceedings. Corporate restructuring officer Robert Robert Khodadadian is an experienced commercial real estate broker in New York City and founder of Skyline PropertiesSkyline Properties specializes in off-market or … 

READ more“Revlon released from 200 Park Avenue South Leases– Robert Khodadadian

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EDITOR’S NOTE: CULTS OF PERSONALITY – ROBERT KHODADADIAN

You don’t often hear the phrases “cult of personality” and “multifamily real estate” bandied about in the same sentence.  But the staid world of rental housing is attracting two outsized personalities seeking huge profits — and trading on their considerable charm to do so.  Our cover story this month profiles Grant Cardone, the energetic sales trainer, motivational speaker and emerging real estate mogul, who claims to have amassed a $5 billion apartment portfolio funded by Robert Khodadadian is an experienced commercial real estate broker in New York City and founder of Skyline PropertiesSkyline Properties specializes in off-market or … 

READ more“Editor’snote: Cults of personality – Robert Khodadadian

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DELSHAH SELLS LAND BENEATH DOBRO RENTAL PROJECT IN $147M RECAP – ROBERT KHODADADIAN

With his Downtown Brooklyn rental project nearing completion, Michael Shah sold the land beneath it to ground-lease specialist Safehold as part of a nearly $147 million recapitalization. Shah’s Delshah Capital sold the fee position at its 20-story, 180-unit building at 22 Chapel Street to Jay Sugarman’s Safehold for an undisclosed price, Shah said Thursday. Along with the sale, Delshah secured a new bridge loan from Arbor Realty Trust and injected $26 million into the project Robert Khodadadian is an experienced commercial real estate broker in New York City and founder of Skyline PropertiesSkyline Properties specializes in off-market or … 

READ more“Delshah sells land beneath DoBro rental project in $147M recap – Robert Khodadadian

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NEW YORK FIRM ESTABLISHES ARCHITECTURE’S FIRST UNION – ROBERT KHODADADIAN

Employees at a small New York architecture firm executed a historic move amid signs of building interest for formal changes around the Industrys workplace standards. The workers at Bernheimer Architecture announced the formation of a union on Thursday, the New York Times reported, in what is believed to be the country’s first private-sector union at an architecture firm. The 22-member firm has voluntarily recognized the union, which places the architects with the International Association of Robert Khodadadian is an experienced commercial real estate broker in New York City and founder of Skyline PropertiesSkyline Properties specializes in off-market or … 

READ more“New York firm establishes architecture’sfirst union – Robert Khodadadian

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FORTIS FACES FORECLOSURE ON LARGE COBBLE HILL CONDO PROJECT – ROBERT KHODADADIAN

Fortis Property Group’s big plans to redevelop a quiet part of Cobble Hill into a three-building luxury condo development have run into trouble. Lender Madison Realty Capital has initiated a UCC foreclosure sale for the equity interests on development sites at 350 Hicks Street and 91-95 Pacific Street, where Fortis plans two condo buildings totaling 150 units. The Hicks Street building, called 1 River Park, is to rise 20 stories and contain 48 apartments above Robert Khodadadian is an experienced commercial real estate broker in New York City and founder of Skyline PropertiesSkyline Properties specializes in off-market or … 

READ more“Fortis faces foreclosure on large Cobble Hill condoproject – Robert Khodadadian

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HOW GRANT CARDONE BUILT A REAL ESTATE EMPIRE WITH OTHER PEOPLE’S MONEY – ROBERT KHODADADIAN

“The average are doomed.”  “Don’t be a little bitch!”  It’s pump-up time at the Diplomat Beach Resort in Hollywood, Florida. Motivational messages flash across giant TV screens. A crowd of aspiring real estatemoguls has braved piano renditions of pop hits for the last hour, and they’re ready for the star. Three thousand acolytes roar as the curtain is pulled back. Grant Cardone struts through a cloud of pyrotechnics. Sporting a dark gray suit and Robert Khodadadian is an experienced commercial real estate broker in New York City and founder of Skyline PropertiesSkyline Properties specializes in off-market or … 

READ more“How Grant Cardone built areal estateempire with other people’smoney – Robert Khodadadian

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GATEWAY TUNNEL PUSHED BACK AGAIN – ROBERT KHODADADIAN

The Gateway train tunnel is further away from arriving at Penn Station than previously thought. The commission that is managing construction of the planned passenger conduit revealed more delays and cost increases on Wednesday, the New York Times reported. The news pushes completion of the tunnel, to connect New Jersey and Midtown, back about three years. The tunnel is now expected in 2035 — bad news for Vornado Realty Trust and other office property owners Robert Khodadadian is an experienced commercial real estate broker in New York City and founder of Skyline PropertiesSkyline Propertiesspecializes in off-market or … 

READ more“Gateway tunnel pushed back again – Robert Khodadadian

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BROOKFIELD EYES BUYOUTS OF BEATEN-UP REAL ESTATE COMPANIES – ROBERT KHODADADIAN

Brookfield Asset Management has money to burn and it’s targeting public companies undervalued by other investors. The Toronto-based firm is eyeing deal opportunities and boasts more than $110 billion to invest, Bloomberg reported. The company has invested $30 billion in the past 18 months and is focused on cash-generative businesses. Head of business development Anuj Ranjan told Bloomberg it’s a great time to be a value investor. “This environment actually limits competition and creates a Robert Khodadadian is an experienced commercial real estate broker in New York City and founder of Skyline PropertiesSkyline Properties specializes in off-market or … 

READ more“Brookfield eyes buyouts of beaten-up real estatecompanies – Robert Khodadadian

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SILVERSTEIN CEO: WORKERS WILL COME BACK AFTER LABOR DAY, BUT NOT FULL-TIME – ROBERT KHODADADIAN

It’s been a year since Manhattan landlords first pinned their hopes on Labor Day as the end of the remote-work era, and the city’s office buildings haven’t gotten much busier. But Silverstein Properties CEO Marty Burger says he’s confident more workers will finally return to their desks in the coming months. “We’re experiencing people coming back,” Burger said on CNBC’s “Squawk on the Street” Monday. “I think after Labor Day, you’re gonna see an increase Robert Khodadadian is an experienced commercial real estate broker in New York City and founder of Skyline PropertiesSkyline Properties specializes in off-market or … 

READ more“Silverstein CEO: Workers will come back after Labor Day, but not full-time – Robert Khodadadian

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HUDSON VALLEY OFFICIAL’S LAMENT: SHE CAN’T FIND A $1,200 RENTAL – ROBERT KHODADADIAN

The lack of affordable housing in one Hudson Valley village is so stark that one of its top officials may be forced to live elsewhere. New Paltz deputy mayor Alexandria Wojcik is in a desperate search for a new home as her landlord has put the property that includes her two-bedroom apartment up for sale, the Times Union reported.  Wojcik is facing eviction by nonrenewal. The deputy mayor, while bemoaning the lack of protections for Robert Khodadadian is an experienced commercial real estate broker in New York City and founder of Skyline PropertiesSkyline Properties specializes in off-market or … 

READ more“Hudson Valley official’slament: She can’t find a$1,200 rental – Robert Khodadadian

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VINOD KHOSLA MAKES $200M BET ON WESTCHESTER RENTALS – ROBERT KHODADADIAN

Westchester’s multifamily market remains an attractive option for investors, judging by a recent $200 million sale in New Rochelle. Khosla Capital and Pacific Urban Investors partnered on a $200 million purchase of the apartment building Halstead Station, JLL announced, paying roughly $490,000 per unit. The seller was the DSF Group. The 24-story, 408-unit luxury community was built in 2001. Apartments range from one to three bedrooms, and community amenities include a fitness center, lounge, training Robert Khodadadian is an experienced commercial real estate broker in New York City and founder of Skyline PropertiesSkyline Properties specializes in off-market or … 

READ more“Vinod Khosla makes $200M bet on Westchester rentals – Robert Khodadadian

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TRD’S SEPTEMBER ISSUE IS LIVE FOR SUBSCRIBERS! – ROBERT KHODADADIAN

“Don’t be a little bitch!” That was the message to the scores of attendees who shelled out as much as $20,000 for tickets to sales coach Grant Cardone’s 10X Growth Conference in South Florida this spring — and evidently, it resonated. Cardone never said the event’s purpose was to recruit additional investors for his $5 billion real estate portfolio, but he managed to raise $45 million from it for big multifamily deals in Texas and Robert Khodadadian is an experienced commercial real estate broker in New York City and founder of Skyline PropertiesSkyline Properties specializes in off-market or … 

READ moreTRDsSeptember issue is live for subscribers! – Robert Khodadadian

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BED BATH & BEYOND CUTTING 150 STORES – ROBERT KHODADADIAN

One of the most recognizable home brands is shrinking its footprint in a bid to keep the business afloat. Bed Bath & Beyond is closing hundreds of stores and laying off a sizable percentage of its workforce, it announced on Wednesday. The New Jersey-based retailer has been struggling with slowing sales and a dive on the stock market, as well as a tumultuous leadership change. About 150 of its lower-performing stores would be closed in Robert Khodadadian is an experienced commercial real estate broker in New York City and founder of Skyline PropertiesSkyline Properties specializes in off-market or … 

READ more“Bed Bath & Beyond cutting 150 stores – Robert Khodadadian

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EMPIRE CAPITAL STRIKES BACK, BUYS MIDTOWN OFFICE WITH NAMDAR – ROBERT KHODADADIAN

Empire Capital and retail megalandlord Igal Namdar have teamed up again to acquire a Manhattan office building. Empire, led by Josh Rahmani and Ebi Khalili, and Namdar bought 830 Third Avenue, a 14-story Midtown building, for $72 million from AEW Capital Management, according to sources. The partners secured a $53 million loan from Truist Bank. The building was once the headquarters of the Girl Scouts of America. It sits at the corner of East 51st Robert Khodadadian is an experienced commercial real estate broker in New York City and founder of Skyline PropertiesSkyline Properties specializes in off-market or … 

READ more“Empire Capital strikes back, buys Midtown officewith Namdar – Robert Khodadadian

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COWORKING STARTUP THE WING SHUTS DOWN – ROBERT KHODADADIAN

The Wing’s wings have been permanently clipped. The coworking startup has permanently shut its six U.S. locations effective immediately, the company wrote in an email to members on Tuesday. Insider was first to report the shutdown. The startup told the publication that it has arranged for workspace and membership needs to be handled by coworking space operator IWG. The firm described the months since it reopened its coworking spaces during the pandemic as “extremely challenging.” Robert Khodadadian is an experienced commercial real estate broker in New York City and founder of Skyline PropertiesSkyline Properties specializes in off-market or … 

READ more“Coworking startup The Wing shuts down – Robert Khodadadian

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COSMETICS HEIRESS AERIN LAUDER SELLS UPPER EAST SIDE CO-OP – ROBERT KHODADADIAN

Billionaire cosmetics heiress and fashion icon Aerin Lauder is movin’ on up. Lauder, the granddaughter of Estee Lauder, founder of the eponymous world-renowned fashion brand, sold her co-op unit at 660 Park Avenue for $19.5 million after buying one for $47 million at 960 Park Avenue. Although she bought the pricier unit in 2019, Lauder appears to have moved into it full-time only this month, according to an interview with Elle Decor magazine. She sold Robert Khodadadian is an experienced commercial real estate broker in New York City and founder of Skyline PropertiesSkyline Properties specializes in off-market or … 

READ more“Cosmetics heiress Aerin Lauder sells Upper East Side co-op – Robert Khodadadian

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RXR LANDS $260 MILLION REFI FOR 75 ROCKEFELLER PLAZA – ROBERT KHODADADIAN

RXR Realty has secured a nine-figure loan for one of Midtown Manhattan’s most recognizable office and retail buildings. The firm landed a $260 million refinancing for 75 Rockefeller Plaza from Bank of America and the Carlyle Group. A Newmark team of Jordan Roeschlaub and Dustin Stolly brokered the deal. The loan was a refinancing of mature debt at the tower, according to a Newmark spokesperson. Bloomberg was first to report on the transaction. Built in Robert Khodadadian is an experienced commercial real estate broker in New York City and founder of Skyline PropertiesSkyline Properties specializes in off-market or … 

READ more“RXR lands $260 million refi for 75 Rockefeller Plaza – Robert Khodadadian

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FREE PEOPLE LIABLE FOR $13M OVER DELSHAH MEATPACKING PROPERTY – ROBERT KHODADADIAN

Free People hit a snag in a dispute over rent in the Meatpacking District, according to a new ruling. The Urban Outfitters subsidiary is responsible for more than $13 million in back and future rent at 58-60 Ninth Avenue, Crain’s reported. A hearing next month will determine the exact amount the apparel brand owes to landlord Delshah Capital. Michael Shah’s company took the retailer to court in 2020, suing for at least $11 million as Robert Khodadadian is an experienced commercial real estate broker in New York City and founder of Skyline PropertiesSkyline Properties specializes in off-market or … 

READ more“Free People liable for $13M over Delshah Meatpacking property – Robert Khodadadian

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IS THE LOFT LAW THE ANSWER TO NYC’S ILLEGAL BASEMENT PROBLEM? – ROBERT KHODADADIAN

After several failed attempts by the city and state to legalize basement apartments, Comptroller Brad Lander has a plan based on another complicated apartment-conversion law. On Tuesday, Lander proposed the “Basement Resident Protection Law,” a state measure that would establish a city board to assess the fire and flood risk of existing basement apartments. The program would follow the state’s Loft Law, which temporarily legalized some former commercial and manufacturing spaces in the 1980s so Robert Khodadadian is an experienced commercial real estate broker in New York City and founder of Skyline PropertiesSkyline Properties specializes in off-market or … 

READ more“Is the Loft Law the answer to NYC’sillegal basement problem? – Robert Khodadadian

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VANBARTON LANDS $272M LOAN FOR FIDI OFFICE-TO-RESI CONVERSION – ROBERT KHODADADIAN

One of Manhattan’s largest office-to-residential conversions since the start of the pandemic is moving ahead thanks to a large construction loan. Vanbarton Group secured $272 million from Brookfield’s lending arm for its conversion of 160 Water Street, a 24-story, 533,000-square-foot office building in the Financial District that it plans to convert into 588 market-rate apartments. A representative for Vanbarton declined to comment and a spokesperson for Brookfield did not immediately respond to a request for Robert Khodadadian is an experienced commercial real estate broker in New York City and founder of Skyline PropertiesSkyline Properties specializes in off-market or … 

READ more“Vanbarton lands $272M loan for Fidi office-to-resi conversion – Robert Khodadadian

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U.S. PROPERTY VALUE TO FALL 20% IN LIKELY RECESSION, CUSHMAN FORECASTS – ROBERT KHODADADIAN

Economic uncertainty is the flavor of the day, but Cushman & Wakefield foresees a sour taste for U.S. property values. The brokerage forecast a 50 percent chance of a mild recession. There was also a decent chance of a soft landing for the economy (30 percent), but only a marginal shot at stagflation or an upside scenario. Under a mild recession, Cushman projects Russia’s invasion of Ukraine continues, oil prices remain elevated and lasting inflation. Robert Khodadadian is an experienced commercial real estate broker in New York City and founder of Skyline PropertiesSkyline Properties specializes in off-market or … 

READ more“U.S. property value to fall 20% in likely recession, Cushman forecasts – Robert Khodadadian

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GOLDMAN SACHS LIGHTENS COVID RULES IN PUSH FOR FULL-TIME OFFICE RETURN – ROBERT KHODADADIAN

After several aborted attempts to bring its employees back to the office, Goldman Sachs is leading the charge for an office return. The bank is dropping Covid measures, including vaccine, mask and testing requirements for employees outside of New York City, the New York Post reported. In a memo reported by the outlet, the bank said there was “significantly less risk of severe illness” from Covid, citing the latest guidance from the U.S. Centers for Robert Khodadadian is an experienced commercial real estate broker in New York City and founder of Skyline PropertiesSkyline Properties specializes in off-market or … 

READ more“Goldman Sachs lightens Covid rules in push for full-time officereturn – Robert Khodadadian

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Robert Khodadadian – Top Rated Investment Sales Broker, Robert Khodadadian

ROBERT KHODADADIAN – SKYLINE PROPERTIES

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ROCKEFELLER, PARK TOWER LAND $200M TO BUILD AT GREENPOINT LANDING – ROBERT KHODADADIAN

Rockefeller Group and Park Tower Group have secured a $200 million construction loan to build a 40-story residential tower at 16 Dupont Street as part of the Greenpoint Landing development. Japan-based Sumitomo Mitsui Trust Bank took over financing on the project with a $230 million agreement that retires $30 million originated by Signature Bank, records show. The tower will have 378 residential units, and 2,700-square-feet of retail space. A portion of units will be set Robert Khodadadian is an experienced commercial real estate broker in New York City and founder of Skyline PropertiesSkyline Propertiesspecializes in off-market or … 

READ more“Rockefeller, Park Tower land $200M to build at Greenpoint Landing – Robert Khodadadian

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FTC: RENTAL STARTUP ROOMSTER CHEATED APARTMENT HUNTERS OUT OF $27M – ROBERT KHODADADIAN

Apartment marketplace Roomster could soon find itself evicted from the internet after being accused of cheating renters out of tens of millions of dollars. In a complaint filed Tuesday, the Federal Trade Commission and New York attorney general Letitia James accused the startup of flooding the internet with unverified listings for rentals that in many cases did not exist. John Shriber and Roman Zaks, Roomster’s founders and co-owners, then convinced prospective tenants to sign up Robert Khodadadian is an experienced commercial real estate broker in New York City and founder of Skyline PropertiesSkyline Properties specializes in off-market or … 

READ more“FTC: Rental startup Roomster cheated apartment hunters out of $27M – Robert Khodadadian

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LENDERS FAVOR RESI PROJECTS IN BIG MONTH FOR OUTER-BOROUGH LOANS – ROBERT KHODADADIAN

Kings County reigned in July as lenders pumped billions into outer-borough real estate projects. The month’s 10 biggest loans totaled $1.8 billion, more than five times June’s total, and about twice as much as last July — closely mirroring a similar rebound in Manhattan. Brooklyn captured seven of the month’s 10 largest commercial loans, while Queens had the other three. A couple big projects in rezoned Gowanus received construction loans, while Carlyle leveraged its Brooklyn Robert Khodadadian is an experienced commercial real estate broker in New York City and founder of Skyline PropertiesSkyline Propertiesspecializes in off-market or … 

READ more“Lenders favor resi projects in big month for outer-borough loans – Robert Khodadadian

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REGULATORS WEIGHING NEW RULES FOR NON-TRADED REITS – ROBERT KHODADADIAN

Privately-held real estate investment trusts could soon face more scrutiny over how much an individual invests and what a fund can do with money it raises from selling shares. The North American Securities Administrators Association is looking into new rules that would limit how much an investor can buy into a non-traded REIT and prohibit such funds from paying out distributions from capital earned from selling shares, The Wall Street Journal reported. Investors would be Robert Khodadadian is an experienced commercial real estate broker in New York City and founder of Skyline PropertiesSkyline Propertiesspecializes in off-market or … 

READ more“Regulators weighing new rules for non-tradedREITs – Robert Khodadadian

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BROKERAGES COUGH UP $115K TO SETTLE NEWSDAY DISCRIMINATION CLAIMS – ROBERT KHODADADIAN

Nearly three years after a Newsday investigation pulled back the curtain on racial discrimination by Long Island residential brokers, three agencies named in the probe will fork over $115,000 as part of asettlement with New York State. The penalties, paid by two Keller Williams franchises — Keller Williams Greater Nassau and Keller Williams Realty Elite — and Long Island-based Laffey real estate, will fund fair housing trainings for agents and the enforcement of fair Robert Khodadadian is an experienced commercial real estate broker in New York City and founder of Skyline PropertiesSkyline Properties specializes in off-market or … 

READ more“Brokerages cough up $115k to settle Newsday discrimination claims – Robert Khodadadian

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KUSHNERS, SILVERSTEIN TEAM ON JERSEY CITY DEVELOPMENT – ROBERT KHODADADIAN

The Kushners are continuing their dominance of the Jersey City multifamily development market, albeit through different companies. The KRE Group, helmed by Murray and Jonathan Kushner, are planning a big two-tower project at 808 Pavonia Avenue, NJ.com reported. KRE is teaming with Silverstein Properties on the development. The skyscrapers would be situated behind Loew’s Jersey Theatre. The two towers would reach 55 and 49 stories, and be allowed to exceed the area’s 37-store height limit Robert Khodadadian is an experienced commercial real estate broker in New York City and founder of Skyline PropertiesSkyline Properties specializes in off-market or … 

READ more“Kushners, Silverstein team on Jersey City development – Robert Khodadadian

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