Kilroy Realty Nabs $308M Oyster Point Life Science Development Site
Last week, Kilroy Realty Corp. announced that it has completed the acquisition of a life science development site in South San Francisco. Fully entitled for 2.5 million square feet, the 40-acre site was purchased for $308 million and named “Kilroy Oyster Point.” It will eventually host an 11-building laboratory and office complex, adjacent to the…
JLL Secures $463M Loan for Savanna’s Acquisition of 5 Bryant Park, and Seals the Deal on Behalf of Blackstone
JLL Capital Markets secured a $463 million loan on behalf of Savanna, for the acquisition of New York’s iconic 5 Bryant Park. Savanna, a New York real estate investment management firm, bought the Midtown Manhattan office tower from the Blackstone Group for $640 million. JLL also represented Blackstone in the sale of the tower. The…
How Much Did Home Prices Increase in LA County since the Downturn?
Was buying a home 10 years ago in the City of Angels a good investment? We recently asked the same question about New York City and did a study on that, but this time around, we decided to shift our attention to the West Coast, specifically to L.A. County. Although very different markets, NYC and…
Yogev Shmuel from Douglas Elliman: Technology Will Make Buyers More Independent
For this new expert interview, we talked to Douglas Elliman’s Yogev Shmuel, who focuses on both sales and rentals. The Shmuel team is experienced in working with many property types, including co-ops, condos, new developments, and townhouses. Aware of the fact that buying, selling or renting a home is one of the biggest decisions people…
New York Dominates the Top 100 US Property Taxes in 2017
Now that this year’s tax filing season has passed, COMMERCIALCafé decided to put together the 2017 top 100 U.S. property taxes, as a follow up on their 2016 list, to see if any notable year-over-year differences in ranking, new entries or new contenders for the top spots would turn up. Just like last year, the…
What Do Luxury Apartments Rent for in the Top 30 Largest U.S. Cities?
The past few years have seen a spectacular increase in the number of luxury apartment buildings cropping up in major cities across the country. Apart from developers investing in high-end property for the sake of better returns, growth in the luxury apartment rental sector is also prompted by demand from newly emerging renter groups. From…
The Most Expensive Homes for Sale in Kentucky
As is the case in most of the country, Kentucky’s real estate market is confronted with the lowest inventory levels in years, pushing prices up. In fact, prices in the Bowling Green metro area have gone up 4.7% in the first quarter of the year, according to the Kentucky luxury real estate, most of the…
For $200K, Would You Rather Buy a Box in Manhattan or a Mansion in San Antonio?
Many say that location is the number one factor when deciding on buying a house, when in reality, it’s actually our finances. Realizing that with $200,000 you can only buy 126 square feet of living space in Manhattan, while in Cleveland you can get over 3,700 square feet, can seriously put things into perspective. The…
NKF Secures $26M Loan for Brick and Timber’s Acquisition of a San Francisco Office
NKF Capital Markets has arranged the placement of a $26.2 million loan with PCCP for a San Francisco office building located at 55 Green Street, as part of a plan to acquire and reposition the asset. Brick and Timber Collective―a local real estate development and management company―bought the property for $29 million, or $566 per…
SL Green Gains Leasehold Interest in 2 Herald Square
SL Green, one of New York City’s largest commercial landlords has announced its successful bid for the leasehold interest at 2 Herald Square. The company has also agreed to enter a joint venture with an Israeli-based institutional investor. The owners did not disclose their bid amount. The 362,191-square-foot Midtown Manhattan office space was previously owned…
The Most Expensive Homes for Sale in Oklahoma
Following national trends, Oklahoma’s real estate market is seeing diminishing supply and growing prices. In fact, the state is experiencing the highest levels of sales activity and price increases in five years, according to Oklahoma Association of Realtors data. With sales activity steadily on the rise, and diminishing numbers of new listings, the numbers of…
BMCC Expands Lease at TriBeCa Office
The Borough of Manhattan Community College signed an expansion of its existing lease at Jack Resnick & Son’s 255 Greenwich Street in TriBeCa. BMCC grew its presence in the 623,748-square foot building by an additional 78,000 square feet of TriBeCa office space, occupying part of the building’s second floor and the entire third floor, under…
HFF Secures $144M Financing for Hines’ Irvine Office Campus
A joint venture including Houston-based real estate investment firm Hines has obtained a $144 million loan for Intersect, a four-building campus in Irvine, Calif. The lender, New York Life Insurance Co., has agreed to a three-year, floating-rate loan with extension options. Proceeds will be directed towards refinancing existing debt and filling the remaining vacancies at…
The Most Expensive Homes for Sale in Michigan
Following national trends, Michigan’s real estate market is battling low inventory, while supply is far outstripped by demand in this seller’s market. Prices are on the rise across most Michigan markets, and many are experiencing double-digit price gains, according to Michigan Realtors. With no shortage of lakes, Michigan offers up a bounty of waterfront homes…
Was Buying an NYC Home a Good Investment During the Past Decade?
Buying a home is on almost everyone’s bucket list, but as soon as you find the perfect place, the all-too-familiar question pops up: is this investment worth it? Ever since the 2008 market crash, homebuyers think twice before spending their hard-earned money and savings on a down payment. Banks have also become more cautious and…
The Most Expensive Homes for Sale in North Carolina
As the 9th most populous state in the union and boasting two vibrant business hubs in Metro Charlotte and the Research Triangle, North Carolina’s real estate market is buzzing. North Carolina luxury real estate market, the most expensive homes for sale are outside the state’s largest cities. Indeed, looking at the most expensive homes for…
SL Green to Sell Manhattan Office Condo for $633M
SL Green, New York City’s largest office landlord, and its joint venture partner Ivanhoe Cambridge, have entered into a contract to sell their leasehold interest in the office condominium at 1745 Broadway. The new owner of the Midtown Manhattan office space will be an institutional client of Invesco Real Estate, which will snatch the office…
SoMa Office Tower Gets $145M Upgrade
633 Folsom, an aging San Francisco office building located in the city’s SoMa submarket, is going to get an extensive makeover. Property owner and manager The Swig Co. plans to turn the 1967-built Class B asset into a modern, Class A office tower. Aided by HFF and a domestic bank, the company recently secured $145…
The Most Expensive Homes for Sale in Missouri
Although slowing from the frenzied sales activity of 2017’s fourth quarter, Missouri’s real estate market is still markedly more dynamic than it was a year ago. Prices have appreciated 7.2% year-over-year, with the number of homes sold up a whopping 82.3%, while monthly dollar volume expanded by 95.4% over the same period, according to Missouri REALTORS. With potentially…
Expert Interview with a Dynamic Real Estate Duo: Augusto Bittencourt and Jared Barnett
For the latest interview in our series, we had the pleasure of talking to a very interesting and dynamic real estate duo: Augusto Bittencourt and Jared Barnett from Town Residential. Both had previously worked in different industries and found common ground in the competitive Manhattan real estate market. They shared with us how they spend…
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