John Salustri has covered the commercial real estate industry for nearly 25 years. He was the founding editor of GlobeSt.com, and is a four-time recipient of the Excellence in Journalism award from the National Association of Real Estate Editors.
NEW YORK CITY-At today's conference, keynoter Leo Wells inspires the packed room to overcome fear while at least one lender admits that maybe--given conditions--a bit of fear is a good thing.
NEW YORK CITY-An early-morning fire, still of unknown origin, swept through the fourth, fifth, sixth and seventh floors of the still-under-construction complex at Columbus Circle. Some 170 firefighters got the blaze under control at 2:35 this morning.
NEW YORK CITY-The equipment's being rolled in to new studio space at 1211 Ave. of the Americas, sources tell GlobeSt.com, but Fox News is holding off on launching new news programs until the war in Iraq is over.
NEW YORK CITY-A plane crash in Massachusetts on Friday killed six of the seven people aboard, including the senior partner of Fisher Brothers. Only Fisher's teenage daughter survived the crash. Services for Fisher will take place aboard the Intrepid on Tuesday.
NEW YORK CITY-While the firm awaits better conditions stateside, it plans to complement some $700 million in overseas activity already nailed down, explain Apollo executives. The new package will target opportunities in Western and Central Europe as well as Japan.
NEW YORK CITY-The opening months of '01 still saw substantial investment-capital flowing into real estate--building on last year's $93.5 billion. And retail and CBD office are the big winners.
NEW YORK CITY-Paramount Group is breaking from its typical long-term-hold strategy to flip the 592,000-sf asset. The assignment was just made to Lazard Freres, and the asset should hit the market in three weeks. Paramount bought the building in 1999 for $163 million.
NEW YORK CITY-SEIU Local 32BJ, which represents 28,000 apartment workers, including doormen, janitors, and elevator operators, has called for a strike when contracts expire on April 20. At issue are salary increases, and safety and security training. Ownership representatives are confident that a strike can be averted.
NEW YORK CITY-Accounting and building-management personnel have been cut. Insiders say it's a sign of the times. TSP says it's preparing the firm for growth.
NEW YORK CITY-Here's a twist on a constricting market. The Community Preservation Corp.'s mortgage lending subsidiary actually needs space to grow. It found it, apparently, at 63 Madison Ave. A 16-year deal with sublessor Bank of New York has just been signed.