How to Resolve A Neighborhood Fence Dispute
NYC-based boutique law firm Pardalis & Nohavicka brings the latest legal updates from the world of real estate to PropertyShark. Pardalis & Nohavicka handles an eclectic array of matters, representing individuals and business owners in civil litigation, criminal cases and business transactions, currently litigating and representing clients throughout the United States and around the world. In today’s litigious society,…
NFK Closes on $29.9M Empire Towers V Sale in Ontario, CA
Real estate firm MGR Realty nabbed Empire Towers V, a 124,529-square-foot Class A Ontario office space for a total of roughly $30 million. The real estate advisor NKF Capital Markets represented the seller, TA associates, a private equity firm, which had completed the building project at 3990 Concours Street in 2007. The 5-story steel-frame construction…
Disney Acquires Building Rights at 4 Hudson Square Site for $650M
The Walt Disney Co. acquired development rights for 4 Hudson Square in a deal valued at $650million. Spanning a full city block, the area is currently occupied by 304 Hudson Street, 137 Varick Street and 30 Vandam Street. Â The three buildings are currently housing retail and office tenants. The Lower Manhattan campus is owned by…
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…
Silverstein Properties Set to Snatch ABC’s Upper West Side HQ for $1B
Silverstein Properties is set to add the American Broadcasting Co.’s (ABC) New York City campus to its portfolio. The full-service real estate firm is in contract to acquire the media network’s Upper West Side office headquarters from its parent company, The Walt Disney Co. According to the Commercial Observer, Silverstein is going to pay more than…
20 Years of Ups and Downs – US Office Sales Before and After the Crisis
Over the past 20 years, the U.S. economy has been through a boom, a bust, and a hike. Each of these turning points altered the financial landscape and, consequently, the real estate industry. Undoubtedly, the protagonist in the story of the financial crisis has been the residential market–scarred by the demise of some major lenders…
Brooklyn Residents, Developers Brace for L-Train Shutdown
The news of the L-train shutdown caused strong reactions among Brooklyn residents, but not only them. Brokers, developers, landlords and business owners alike are worried about what the shutdown will mean for their businesses. So far, it looks like everyone needs to stay on top of the situation if they want to get through those…
C.A.R Forecast: Housing Market Will Keep Going Strong in 2018
California’s economy is expected to grow and bring forward a strong housing demand in 2018, according to the California Association of Realtors. The housing market will keep growing, albeit at a slower pace, the slowdown being attributed to the supply challenges that will carry on in the next year, as per the report. Median home…
Greystone Secures $21M Refi for Brooklyn Multifamily Portfolio
Greystone recently provided $21 million in refinancing for an eight-property multifamily portfolio in Brooklyn. Anthony Cristi of Greystone’s New York office is the one who originated the Freddie Mac loan for the refinanced properties. According to portfolio owner Steve Lubin, Greystone was the preferred choice when it came to the refinancing process and getting all…
Office Vacancy Rates on the Rise in New Jersey’s Transit Hub Markets
Based on an annual report from JLL, The Wall Street Journal reports that vacancy rates in New Jersey’s transit hub markets spiked at the end of 2016. However, though vacancy rates went up in these hubs, they still fared better than markets lacking easy access to public transportation. Transit hub markets are defined by JLL as properties…
NYC Takes 15 Spots in the Top 20 Tax Exempt Properties in the US
A recent nationwide study carried out by CommercialCafé, and based on PropertyShark data, revealed the top 20 tax-exempt properties in the U.S. NYC stole the show, with a total of 15 tax-exempt properties featured in the top 20. Given the fact that many historic buildings located in Manhattan are tax exempt, we weren’t really surprised when…
Blackstone, Starwood Join Forces to Become America’s Biggest Landlord
Key Takeaways: Together, Blackstone Group’s Invitation Homes and Starwood Waypoint Homes will manage around 82,000 single-family homes across 17 metros The new company will retain the Invitation Homes name The majority of shares in the company (59%) will be owned by Blackstone Blackstone Group’s Invitation Homes and Starwood Waypoint Homes, two of the largest rental-home…
Supply Struggle for the US Housing Market in Q2
Key Takeaways: Nationwide, the median sale price for existing single-family homes grew 6.2 percent year-over-year Q2 recorded a 7.1 percent drop year-over-year in homes available for sale in the US Four out of the five most expensive markets are in California, and require a salary of over $100,000 for a mortgage Single-family home prices keep on climbing…
Land Use Committee Greenlights Midtown East Rezoning
Manhattan Skyline Gearing Up for a Major Makeover The iconic skyline of Midtown East is gearing up for a major makeover. Landmarks such as the Chrysler Building are at risk of being overshadowed by megatowers – and according to Justin Davidson, architecture critic for New York Magazine, the danger is now more real than ever….
NYC Rental Market Hottest as Construction Hits 20-Year High
New York City remains one of the hottest rental markets as apartment construction hits a new record high this year. Apartment construction has been unstoppable, with thousands of new buildings under development all over the country. Is it enough? Is it too much? What will the impact of this volume be on the market? New…
HFF Arranges $28M Refi for Brooklyn Mixed-Use Building
HFF has recently arranged a $28 million refinancing for the mixed-use building located at 110 4th Ave. in Brooklyn’s Boerum Hill. The firm placed the 10-year, fixed-rate, interest-only loan covering 75 percent of the property value with Jefferies LoanCore LLC, per PropertyShark data. A debt placement team led by HFF Managing Director Scott Aiese represented…
PropertyShark Expands Its Corporate Clients Portfolio with Keller Williams NYC
PropertyShark’s portfolio of corporate clients includes the major brokerage companies in NYC and it’s a huge honor for us to be trusted by the top industry players. We are proud to announce another corporate client! Keller Williams NYC, ranked among the top NYC brokerages, is also powered by PropertyShark services. These services are designed to…
PropertyShark Launches Improved Polygon Draw Tool for a Better User Experience
Today we are excited to announce an improved experience regarding map area selection on PropertyShark.com thanks to our new Polygon Draw Tool. Several improvements have been deployed to the new tool which is now faster to work with and easier to use compared to our previous version. The goal was to offer our users a…
New York City’s Commercial Real Estate Market Up 32% in 2011
New York City’s commercial real estate market continues its upward trend in 2011, growing by 32% over 2011 and by a whopping 193% over its recessionary low-point in 2009. In real terms, the commercial sector amounted to $24 billion in sales, a fo…
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