The industry's own research.
641 items
showing 1–60 of 641
The steady climb of commercial property assessed clean energy (C-PACE) financing around the U.S. has made its way to one of Boston’s tallest buildings. Millennium Partners has secured a $281 million C-PACE loan to implement energy efficiency upgrades at the 62-story Winthrop Center in Downtown Boston, the developer…
Mega mall landlord Mike Kohan is at risk of losing half a Chicago Loop office building he just seized from financial distress. A strange dispute at 33 West Monroe Street escalated into a court battle between ground landlord Baptist Theological Union and Kohan, a Great Neck, New York-based investor whose main…
Fancy a trip to the Boardwalk? A pair of New York-based real estate development and investment firms — Nalcorp and Clipper Equity — have acquired a land parcel at 2015 Boardwalk West, an oceanfront development in Coney Island, Brooklyn, from seller Bath Site LLC for $20 million, broker TerraCRG announced Friday.…
Housing isn’t making anyone happy these days. In a survey of more than 100 principals and executives across private real estate investment firms, Berkadia found that 61 percent of respondents characterized their outlook for the multifamily market in the second half of 2026 as negative, Commercial Observer can first…
Fortress Investment Group has rescued Al Rayyan Tourism Investment Company (ARTIC)’s St. Regis Bal Harbour Resort out of special servicing, supplying a $263 million loan to refinance the oceanfront property. The New York-based lender assumed $188 million in existing debt and added $70 million in new debt backing…
New York-based real estate management and development firm First Pioneer Properties, along with ABS Partners Real Estate, has acquired a Queens retail center from Levy Properties for $23.5 million, property records made public Thursday show. The one-story property at 213-04 Northern Boulevard in Bayside is…
Pinnacle Group has offloaded a $128 million residential and retail condominium portfolio in New York City, less than a year after selling off its rent-stabilized assets. The massive trade, filed in city records this week, spanned 39 transactions across Queens, Brooklyn and Manhattan. It included nearly 750…
MOUNT VERNON, N.Y. — A partnership between Simone Development Cos. and Stagg Group is nearing completion of Qwest Towers, a $158 million workforce housing project in Mount Vernon, located north of New York City. Qwest Towers will consist of two buildings that will rise 15 and 12 stories and will house a combined…
NEW YORK CITY — High Street Residential has topped out The Marq, a 25-story apartment building in Manhattan’s SoHo neighborhood. The Marq will offer 99 units, 25 of which will be reserved as affordable housing, as well as 2,072 square feet of retail space. Amenities will include a gym, sauna, meditation room,…
NEW YORK CITY — Affinius Capital has provided an $89 million acquisition loan for CitySpire, a 371,000-square-foot office building in Midtown Manhattan. Built in 1987 and renovated in 2004 and 2022, CitySpire features upgraded elevator systems, wellness lounges, conferencing facilities and coworking space.…
Miami developer Aconcagua Group has landed $35 million of construction financing to complete a multifamily project in Miami-Dade County, Commercial Observer has learned. S3 Capital provided the loan for the third and final phase of the 374-unit Casa Princeton apartment community in Princeton, Fla. The deal closed…
A joint venture between SparrowHawk and Almanac Realty Investors has secured $236 million in acquisition debt to buy a 4.4 million-square-foot, 20-property U.S. industrial portfolio, according to a release. Fidelity Investments reported earlier that the joint venture purchased the portfolio from EQT for just under…
Zuckerman Gravely has secured $50.75 million to refinance Potomac Place Shopping Center, an 80,000-square-foot, Class-A grocery anchored retail center in Potomac, Md., a suburb just outside of Washington, D.C., Commercial Observer can first report. Nationwide Life Insurance Company provided the debt, structured as…
Bondholders initiated litigation against American Dream over a significant decline in the property's valuation.
Pension funds are divesting from direct office property ownership, signaling a strategic shift away from traditional office landlord positions.
Magna sold a four-property hotel portfolio branded under Hilton for approximately $500 million.
New York City's Mamdani Administration issued a request for proposals for a 140-unit multifamily housing development in East Harlem.
SL Green has been removed as manager of Worldwide Plaza in New York City amid an ongoing foreclosure proceeding involving the office property.
New York City landlords filed a lawsuit against the Rent Guidelines Board, contesting a rent freeze decision and alleging procedural irregularities in the board's process.
GO Residential REIT acquired a Brooklyn apartment building for $109 million.
Boston Properties closed a $1.2 billion construction loan for 343 Madison Avenue in New York City and is nearing a deal with an equity partner.
A Canadian REIT acquired a medical office property in Brooklyn, New York for $90 million.
Slate and Hudson Companies have been picked to develop a major multifamily housing project in Queens.
New York City developers are combining housing subsidies and zoning strategies to construct larger affordable housing units, with 99-unit projects becoming a dominant development pattern.
New York City building inspectors issued a stop work order on an office-to-residential conversion project, part of broader regulatory scrutiny of adaptive reuse job sites in the city.
SL Green reports improved cash flow and earnings tied to recovery in the Manhattan office market.
Mamdani expanded funding for its retailer-landlord negotiation assistance program.
United Talent Agency signed a 101,000 square-foot lease at Empire State Building in New York City.
Rafael Weiss is the co-founder of Sytes, a marketplace platform that connects commercial real estate landlords, developers, and brokers with tenants actively looking for space in real time. Rafael came to the problem as a developer who lost a deal because tenant demand was invisible until it was too late, and built…
Barry Sternlicht’s Starwood Asset Management has bought two more affordable housing properties in Miami-Dade County, following two acquisitions last week, bringing the total to $115.4 million and 570 units. The investment firm purchased the remaining piece of the Lafayette housing complex in Miami’s Little River…
The Westphal Company has secured $56.1 million in permanent financing for a 354-unit apartment complex in eastern San Diego County. Northmarq arranged the fixed-rate financing through the firm’s Fannie Mae platform. The nonrecourse loan carries a 10-year term with interest-only payments for the full term. Property…
Five years after the Javits Center underwent a $1.5 billion expansion, the Hudson Yards convention venue is continuing to expand its bandwidth to boost its events business and the adjacent New York City hospitality industry. The 3.3 million-square-foot facility recently underwent a $5 million technology upgrade…
Fortress Investment Group has refinanced the Design Center of the Americas in Dania Beach, Fla., following a nasty foreclosure fight with its previous owner, New York-based billionaire Charles Cohen. City National Bank of Florida supplied a $45 million loan backing the 780,000-square-foot office and design showroom…
KS Group has secured $60.5 million to refinance a 51-acre industrial site in Newark, N.J., that will be repositioned as an industrial outdoor storage property, Commercial Observer can first report. Keystone Equities provided the debt, structured as a senior bridge loan, marking $660 million in capital the firm has…
Zimmet Law Group is relocating its practice inside Manhattan’s Plaza District. Zimmet signed a 5,476-square-foot lease for a newly completed space inside GFP Real Estate’s 515 Madison Avenue, also known as the DuMont Building. Located at the corner of East 53rd Street, the 42-story office tower is just one block…
An iconic luxury hotel in Key West, Fla., is changing hands. Sixth Street Partners and Riller Capital have acquired Pier House, a longstanding 142-room oceanfront resort in downtown Key West, from Braemar Hotels & Resorts in a $190 million deal, according to a release from Sixth Street. Starwood Property Trust…
Heights Advisors, a Brooklyn-based development and investment firm led by founder and president Rachel Foster, is planning to bring 606 affordable housing units to the Bronx’s Soundview neighborhood. The firm filed a land use application Wednesday with the New York City Department of City Planning requesting a…
Famed denim and clothing brand Madewell is opening a new store at Tishman Speyer’s 1 Rockefeller Plaza, the landlord announced Thursday. The retailer signed a 7,340-square-foot lease at the Midtown landmark, where its new space will open in 2027. The asking rent and the length of the lease were not disclosed, but…
Happy Corner Hospitality has signed a lease in Manhattan’s NoMad neighborhood for an offshoot of their Motek concept. Known as Yalla Motek, the restaurant group took 2,500 square feet at David and Jack Israel’s 1147 Broadway, which will be the new Mediterranean chain’s first location in New York City and second in…
PORT CHESTER, N.Y. — Walker & Dunlop has arranged $147.5 million in construction financing for 2 South Main, a 322-unit multifamily project in Port Chester, located along the New York-Connecticut border. Information on specific floor plans and amenities was not disclosed, but the 12-story building will include 330…
NEW YORK CITY — The Domain Cos. has secured $175.6 million in financing from Wells Fargo for the development of a new multifamily project in the Astoria neighborhood of Queens. Canyon Partners Real Estate and BLDG Management are Domain’s equity partners on the deal. Chris Peck and Nicco Lupo of JLL Capital Markets…
NEW YORK CITY — The Shubert Organization has signed an 11-year, 14,480-square-foot office lease in Midtown Manhattan. The theater owner-operator is relocating to a new space on the 11th floor of 520 Eighth Avenue, a 26-story, 860,000-square-foot building that was constructed in 1926, where Shubert has been a tenant…
The luxury pied-à-terre is alive and well, despite any efforts to stifle — or excessively tax — it. While the second week of August saw a Staten Island Supreme Court judge block the rollout of New York City Mayor Zohran Mamdani’s pied-à-terre tax — a controversial surcharge on second homes worth more than $5…
Billionaire Ken Griffin just parted ways with his last remaining retail property on Worth Avenue in Palm Beach, Fla., Commercial Observer has learned. Blackstone Real Estate has agreed to acquire the three-story office and retail building at 125 Worth Avenue, owned by Griffin since 2023, for $86 million in an…
An artificial intelligence-driven fund administrator is moving its headquarters to TF Cornerstone’s 387 Park Avenue South, Commercial Observer has learned. Hanover Park signed a 19,269-square-foot lease on the entire 10th floor of the NoMad property, marking its fifth office move in two years, according to CEO…
A New York lender is more than ready for a Portland hospitality resurgence. Ready Capital, which assumed full ownership of the The Ritz-Carlton Portland mixed-use project following a foreclosure in July 2025, just secured $141 million of commercial property accessed clean energy (C-PACE) debt for the…
Office furniture manufacturer Haworth is staying seated at 125 Park Avenue. Haworth has signed a 10-year lease renewal for its 30,365-square-foot office and showroom space at the 25-story Midtown office building, landlord SL Green Realty announced Wednesday. The company, which manufactures and sells high-end,…
A $396 million commercial mortgage-backed securities (CMBS) loan secured by 85 10th Avenue, a 633,000-square-foot office property in Manhattan’s Chelsea neighborhood, has been sent to special servicing due to imminent maturity default, according to an alert from Morningstar Credit. 85 10th Avenue is owned jointly…
Harvey Hernandez’s Newgard Group bought a development site in West Palm Beach, Fla., to build an upscale parking garage with a private members club component. The Miami-based developer paid $10.5 million for a 2.6-acre parcel at 2500 North Florida Mango Road, just north of Palm Beach International Airport, property…
Health care technology company SuperDial has inked a full-floor lease at GFP Real Estate’s 322 Eighth Avenue, according to a Wednesday announcement by the landlord. SuperDial’s 5,200-square-foot lease spans the entire 20th floor of the Chelsea office tower on the northeast corner of Eighth Avenue and West 26th…
The Richman Group, an $18.5 billion asset management firm, has secured $225 million in permanent financing to refinance three stabilized luxury multifamily properties in South Florida that total 942 units. New York Life Investment Management provided $107 million to refinance the Marc Apartments, a 396-unit…
An artificial intelligence-powered insurance technology company subleasing space in Hudson Square has the attention of Gov. Kathy Hochul. While WithCoverage is only taking 17,663 square feet at GFP Real Estate’s 200 Varick Street, Hochul emphasized future economic benefits of the deal, such as the creation of 205…
NEW YORK CITY — Marcus & Millichap has signed an office lease extension and expansion in Midtown Manhattan. The firm now occupies roughly 41,000 square feet at 260 Madison Avenue, a 22-story building. Evan Fiddle of CBRE represented Marcus & Millichap in the lease negotiations. Paul Amrich, Neil King, Meghan Allen…
A joint venture between Alpha Development Group and Bow River Capital has sealed $58 million of bridge debt to refinance two newly delivered adjacent multifamily developments in Utah’s Heber Valley, Commercial Observer has learned. ArrowMark Partners provided the three-year fixed-rate loan to retire past…
Tankhouse and Lonicera Partners — a pair of Brooklyn-based developers — are in contract to acquire a church property in Downtown Brooklyn and build a new residential building on the site. The developers are set to buy the development site at 360 Schermerhorn Street on the border of Boerum Hill for $28.3 million…
BROWNSBURG, IND. — Wafra Inc., a New York-based alternative investment firm, has acquired Brownsburg Logistics Park Portfolio, a collection of three industrial buildings totaling 899,080 square feet in Brownsburg. Funds advised by Wafra are acquiring the assets from a venture between Scannell Properties and…
A New York-based investor has acquired The Wilson, the 68-unit adaptive-reuse apartment building at 973 Market Street, from Raintree Partners for $19 million, adding one of the Market Street corridor's most distinctive historic conversions to its holdings. The post Raintree Partners Sells Historic 68-Unit Wilson…
One co-owner of multifamily investment platform ESG Kullen is suing the other for alleged fraud, forgery, concealed financing deals and unauthorized equity transfers. Kullen King Properties and its managing member, Thomas DelPonti, filed a complaint last month in New York County Supreme Court against Eric…
An Uptown Manhattan landlord has purchased a Little Italy office building. Washington Heights-focused Artifact Real Estate Development purchased 165 Grand Street for $28 million from Bijan Nassi of Bijan Royal, according to a deed filing in property records Tuesday afternoon. Nassi, a controversial residential…
The multifamily market is entering a new phase defined less by broad national narratives and more by local realities, operational discipline, and selective opportunity. In a recent conversation on “Inside the Deal, a CRE Podcast by Berkadia®,” host Ernie Katai, executive vice president – head of production for…