Archive for the ‘Business’ Category

Celeb Talent Agency Signs Lease at 11 Madison Avenue

Source: Commercial Observer International celebrity talent agency William Morris Endeavor Entertainment has signed a long-term lease for 70,000 square feet of space at 11 Madison Avenue, the New York Post reported. Asking rents in the building, which is adjacent to Madison Square Park, were $92 per square foot, the paper noted. The space is located [...]

AIG Lends $113M on Hudson Square Office Building

Source: Commercial Observer Chicago-based Callahan Capital Properties has taken out a $133 million loan from the insurance arm of AIG, public records indicate. The loan is backed by office building 330 Hudson Street, in the Hudson Square area. Callahan, along with partner IvanhoƩ Cambridge, a Canadian pension and insurance fund manager, announced last month that [...]

One West Bank Lends on $42M Calif. Industrial Acquisition

Source: Commercial Observer An affiliate of Angelo Gordon & Co. and partner Crowsnest Properties refinanced an industrial business park called the Cerritos Corporate Center, in Cerritos, Calif., with $30 million from Pasadena, Calif.-based One West Bank. The 460,356-square-foot asset is located at 13810-13950 Cerritos Corporate Drive. The partnership purchased the property for $42.4 million last [...]

Penthouse Office Condo at 277 Park Ave Hits the Market

Source: Commercial Observer For the first time in half a century, the 50,000-square-foot duplex penthouse office condominium at 277 Park Avenue is available for lease, Commercial Observer has learned. The space, located on the 49th and 50th floors of the building, has been occupied by Continental Grain Company, which is consolidating operations and moving to [...]

West Side Development Site Trades for $43M

Source: Commercial Observer Elad Group has acquired the 20,030-square-foot vacant lot at 505-513 West 43rd Street from Rhode Island-based Magna Hospitality Group for $43 million, according to city property records. Robert Indeglia, the president and chief executive officer of Magna Hospitality, confirmed the sale in an email to Commercial Observer. As previously reported, the site [...]