NEW YORK CITY-A Central Park-area hotel is sold in an all-cash transaction for $70 million. The sale of the landmark, originally opened in 1930, might signal increased interest in the area's hotel market.
NEW YORK CITY-The Marriott Marquis will be the site of Real Estate Media Inc.'s Second Annual RealShare Net Lease---an entire day filled with informative forums where industry insiders will discuss the net lease, sale/leaseback, 1031 and TIC environments.
NEW YORK CITY-Pfizer, which a year ago acquired 685 Third Ave. in one of the largest corporate expansions in recent history, is taking additional space at 205 East 42nd St. The expanding pharmaceutical company now occupies headquarters space at 235 East 42nd St. and a quarter of a million sf down the street.
NEW YORK CITY-Work has already begun on a city-financed $150-million effort to redevelop the New York Cruise Terminal and establish a new berth in Brooklyn. To relieve the current congestion, new taxi stands across the West Side Highway, new elevators and escalators will be added as part of the early enhancements.
NEW YORK CITY-A number of efforts including a residential project in the Fashion District, a housing development in Harlem and a multi-dimensional program in Chinatown are attempting to revitalize some of Manhattan's neighborhoods.
LONG ISLAND, NY-Newmark believes the Long Island retail market offers plenty of opportunities and has brought on David A. Katzman to serve as director of an effort to cultivate the suburbs.
FLORHAM PARK, NJ-The 4.7 million, 37-builiding portfolio is acquired by the Gale Co. for approximately $550 million, sources tell GlobeSt.com. The portfolio involved is the bulk of the former holdings of the defunct Bellemead Development Corp., which was owned by Chubb Insurance.
NEW YORK CITY-The women's specialty retailer is searching for a new home base here, according to sources familiar with the situation. Studley is helping with the search process.
LONG ISLAND, NY-The market here is proving to be popular as one company plans on expanding its facility and workforce, a development sells for a record-high price and a retail development receives permanent financing.
