Archive for the ‘New York’ Category

Buy Condo, Then Add Parking Spot for $1 Million

Source: The New York Times What will $1 million buy in New York City? A diamond-encrusted Cartier men’s watch. A small fleet of 2014 Bentley Continentals. Or maybe your very own parking spot in SoHo. A new development, 42 Crosby Street, is pushing the limits of New York City real estate to new heights with [...]

Deutsche Bank arm buys 212-222 Broadway for $502M

Source: The Real Deal A property-investment arm of Deutsche Asset and Wealth Management has acquired a 775,000-square-foot office building at 212-222 Broadway in Lower Manhattan for $502 million, according to property records filed with the city today. The 31-story Class A office property near Fulton Street features 30,000 square feet of retail. Just last year, [...]

Cornerstone Lends $92.5M on Office Portfolio

Source: Commercial Observer Cornerstone Real Estate Advisers, a subsidiary of Massachusetts Mutual Life Company, lent $92.5 million to Pennsylvania-based real estate investor and manager Keystone Property Group, according to a press release from brokerage HFF, which arranged the deal. Keystone will use the proceeds of the three-year, floating-rate loan to upgrade several Connecticut and Westchester [...]

Brookland Assembles Park Slope Development Site for $7.4M

Source: Commercial Observer Brooklyn-based Brookland Capital has scooped up a Park Slope development site at 550-554 Fourth Avenue at the corner of 15th Street from three different sellers for $7.4 million. Brookland is plannning to erect a new 13-story condominium with 45 residential units plus retail on the ground floor at the site, said Boaz [...]

Bay Ridge Medical Office Building Asking $8.1M

Source: Commercial Observer Marcus & Millichap has placed a 24,829-square-foot medical office building in the Bay Ridge section of Brooklyn at 9020-9024 5th Avenue on the market with an asking price of $8.1 million, or $326 per square foot, Commercial Observer has learned. The building includes a parking garage, an anchor tenant in Mount Sinai [...]