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SELLING POINTS: LIC hotel sold for $60M, Former Lucky Cheng’s spot goes for $12M
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● LIGHTSTONE $60M LIC hotel purchase Lightstone has purchased the Hilton Garden Inn on 41st Avenue for $60 million from a group headed by Sagamore Capital.
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Global CRE investment nears level highest in a decade
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Rising deal flow in Europe and record activity in the Asia-Pacific, powered notably by Hong Kong and Singapore, made 2017 the second-best year in the past
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LIC lab venture secures $156M construction loan
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JLL Capital Markets has arranged $156 million in construction financing for the adaptive re-use of 45-18 Court Square into a Class A, state-of-the-art
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Hunt provides $87M for refinancing LIC tower
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Hunt Mortgage Group provided an $87 million Fannie Mae loan facility to refinance a multifamily property located in Long Island City, New York.
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Fed demands for green building initiatives growing
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Multifamily property investors and lenders are seeing an increased demand for Green building initiatives by Fannie Mae, Freddie Mac and the Federal Housing
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Selling points: Garment District buildings go for $37.3M, 477 Amsterdam a hot property
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HFF Pair of Garment District buildings sell for $37.3 million GFI Realty Services, LLC announced the $37.3-million sale of two office buildings in Manhattan’s
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New Listings: Three-bedroom at 115 Spring Street for $6M, Chelsea apartment for $1.2M
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John Barbato at Stribling has a new listing in the boutique co-op building at 115 Spring Street in Soho. It’s a 3,000 s/f three bedroom, 2.
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Feil closes on Modell Family development site for $32M
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JLL Capital Markets announced that it completed the $32.5 million sale of 360-370 Fulton Street, a commercial development site with up to 171,180 buildable
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HFF’s Jose Cruz reflects on the changes in dealmaking
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Jose Cruz has an amount of optimism that is incongruous with what he does for a living. Cruz, a senior managing director at commercial real estate services
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Private equity firm WCAS aquires Green Street Advisors
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CRAIG LEUPOLD Welsh, Carson, Anderson & Stowe (WCAS) has signed a deal with Golden Gate Capital (GGC) to acquire Green Street Advisors (GSA), the CRE
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Generic drug giant eyes consolidation at Rechler warehouse space
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The Town of Brookhaven Industrial Development Agency (IDA) has accepted an economic incentives application from Amneal Pharmaceuticals that will allow
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City could rein in creative developers who believe the sky is the limit
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Developers continue to employ novel methods to amass the tallest buildings in the city, leaving brokers and their clients to adjust to an obsession with height.