Archive for the ‘Business’ Category

Edgewater N.J. Complex Scores $85M Refi From Freddie Mac

Source: Commercial Observer Berkadia Commercial Mortgage arranged an $85 million revolving credit facility through Freddie Mac for an Edgewater, N.J., mixed-use complex, Mortgage Observer has exclusively learned. The five-year loan has a floating rate based on Libor, currently ticking in at 2.05 percent, and a 75 percent loan-to-value ratio. The proceeds will be used to [...]

Buy Jackson Pollock’s Charming West Village Loft for $1.25M

Source: Curbed NY The insanely cute loft where famed artist Jackson Pollock reportedly once lived—however briefly—is back on the market for the second time in two years. This time, reality TV star-slash-broker Luiz Ortiz is the one trying to find a buyer for the petite one-bedroom, which clocks in at 800 square feet, announcing his [...]

Norway fund pushing to buy Blackstone’s $2.2B 1095 Sixth

Source: The Real Deal Fresh off the acquisition of a 45 percent stake in Boston Properties’ 601 Lexington Avenue, the sovereign fund that manages Norway’s substantial oil wealth is making a play for Blackstone Group’s 1095 Sixth Avenue, according to a source familiar with the talks. A deal for the tower, expected to fetch up [...]

Investcorp says buys U.S. real estate assets for around $250 mln

Source: Reuters Investcorp, an alternative investment manager based in Bahrain, said on Tuesday it had acquired a portfolio of office and industrial property assets in three cities in the United States for around $250 million. The purchases, done in separate transactions, were completed by the firm’s U.S.-based real estate arm, a statement from Investcorp said. Read [...]

Ariel Property Advisors lists prime piece of real estate along Harlem’s bustling corridor

Source: NY Daily News This might be a developer’s dream. A prime piece of real estate directly across from the historic Apollo Theater is up for grabs on Harlem’s booming 125th St. corridor. The owners of 256 W. 125th St. Realty have enlisted Ariel Property Advisors to lease a block-through property that includes the site [...]