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FRIDAY FUN: Guess whose home office this is...
New York’s real estate folk are a resilient lot. Whether they’re stranded in a high-rise or a log cabin during the corona virus, they’re all still...
REBNY launches corona virus resource hub
The Real Estate Board of New York (REBNY) announced the launch of go.rebny.com/CoronavirusResources, the group’s Coronavirus (COVID-19) Resource...
IPG, Square Mile secure $305M loan for logistics facility
Innovo Property Group (IPG) and Square Mile Capital Management LLC have obtained construction financing totaling $305 million for their development...
Paramount Group to sell stake 1633 Broadway
Paramount Group, Inc. has entered into an agreement to sell a 10 percent interest in 1633 Broadway, a 2.5 million square foot trophy office...
State lifts ban on property showings
The State has lifted the ban on residential and commercial property showings, declaring certain real estate functions as "essential" during the...
Unemployment claims jump by 2,700 percent
The New York State Department of Labor today announced that 369,025 initial Unemployment Insurance (UI) claims were filed for the week ending March...
Investment manager takes penthouse space at 10GC
Marx Realty (MNPP) announced that investment management firm Rubric Capital signed a 5,800 s/f, seven-year lease on the 16th floor at 10 Grand...
Investment manager takes pre-built space at 10GC
Marx Realty (MNPP) announced that investment management firm Rubric Capital signed a 5,800 s/f, seven-year lease on the 16th floor at 10 Grand...
TerraCRG brings luxury spa to Brooklyn
TerraCRG has brokered and 11-year retail lease for a new high-end spa in Brooklyn. East Meets West will open a 1,400 s/f ground floor space at 222...
CIT, BlackRock fund $163M loan for Arden industrial acquisition
Real estate fund manager Arden Group has secured a $163 million loan to fund its acquisition of a 12-asset industrial portfolio. The floating-rate...
BBCP arranges $64M to refinance Bronx apartment portfolio
Black Bear Capital Partners (BBCP) has arranged $63.8 million in permanent financing on behalf of Finkelstein Timberger East Real Estate (FTERE)...
Rent regs don’t deter multifamily lender
ABS Altman Warwick, a division of ABS Partners, closed a $13 million loan for a 68-unit, 65,600 s/f apartment building at 232 East 12th Street in...
Metropolitan renews Sect. 8 contract with $38M FHA refi’ on Brooklyn properties
Rockport Mortgage Corporation has closed an FHA Section 223(f) refinancing loan of $38.6 million for Union Street Houses in Brooklyn. The property...
TRANSACTIONS: Eastern Union Funding arranges healthcare loan
Eastern Union Funding announced the following transactions: • A $29,000,000 first lien mortgage for the acquisition of a single unit healthcare...
UBS funds $29M loan to refinance Walmart-anchored shopping center
Newmark Knight Frank has arranged a $29 million fixed-rate loan for the refinancing of the Naugatuck Shopping Center in Waterbury, Connecticut. The...
Denholtz secures financing to finish luxury apartment development
JLL Capital Markets arranged $17.5 million in financing for the development of The Rail @ Red Bank, a 57-unit, Class A apartment project in Red...
Paramount bags loan for Hartford shopping center
ABS Altman Warwick closed a $15,250,000 million permanent loan secured by the 309,800 s/f Walmart-anchored shopping center located in Hartford, CT....
Knighthead Funding provides $30M hotel, retail mortgage
Knighthead Funding LLC has provided King & George Street, LLC with $30.5 million in short-term first mortgage debt for the development of ROOST...
Profit sharing model could save mom and pop shops from COVID closure
A two-year-old proptech firm is looking to help retailers avoid breaking storefront leases and calling it quits by making landlords part-owners in...
BEB Capital launches lending division
BEB Capital has formed a new division to provide bridge loans for the industry, according to Lee J. Brodsky, BEB Capital chief executive officer....
New York dealmaker David Eyzenberg announces expansion
New York City-headquartered commercial real estate investment bank Eyzenberg & Company expanded into the southern U.S. with a new office in Florida...
Mortgage holders catch break as Cuomo tells banks to back off
Governor Andrew Cuomo announced a break for New Yorkers with mortgages, through April 20. Under executive order, the Superintendent of the...
BlackRock balancing America’s economy on its back
BlackRock, the world’s largest asset manager, has been put in charge of running a new credit facility set up to help large New York employers pay...
WeWork tells investors it can beat virus
Coworking giant WeWork has promised investors it has the cash to survive the corona virus crisis and called reports it was shedding workers and...
Compass sheds 400 US workers
Compass CEO Robert Refkin has stopped taking a paycheck after the venture capital-backed real estate firm laid off 400 workers. In a company-wide...
Landlords brace for rent day massacre
Braced for a deluge of rent defaults some 25,000 New York City landlords are asking Mayor Bill de Blasio for payment forgiveness on property tax...
Selling Points: Commercial condo triplex on the market in midtown, Fairfield invests $33M in Section 8 housing
Midtown commercial condo triplex on the market Douglas Elliman and developer 60 Guilders have just brought to market a $35.68M triplex commercial...
Advocating for our community amid COVID-19 crisis
REBNY is advocating for the health of New York City’s residents and our economy, supporting our members by advocating for their interests in a...
Deutsche Bank blinks on Chetrit loan
SL Green’s $815 million deal to sell the former New York Daily News building has collapsed. The REIT had already secured a $35 million deposit from...
Retail owners look for middle ground as national chains declare rent strike
New York’s property owners will have to work with their retail tenants to dig the city back out of its corona virus blight. As national tenants...