NEW YORK CITY-Questions are swirling around the announced merger of banking conglomerates Bank of America and FleetBoston. Valued at an estimated $47 billion, the action will create the second largest banking concern in the world.
NEW YORK CITY-The 71,000 sf single user property is sold for $23 million to C&K Properties. It had long been the home of the union representing employees in the garment, textile and laundry industries.
NEW HYDE PARK, NY-The retail REIT, based here, reported net income for the third quarter increasing 47.2% over 2002 figures. So far for this year, net income has increased 21.4% to $221.8 million.
NEW YORK CITY-Hedge fund Exis Capital inks a 10-year deal for the top floor at 875 Third Ave. This deal brings the Plaza District property up to 96% occupancy.
NEW YORK CITY-Fashion designer Calvin Klein sing and early renewal deal for nearly 143,000 sf in a Midtown tower. Klein has used the site for his headquarters since 1978.
NEW YORK CITY-The Harlem Renaissance is on as the first hotel and office development in three decades is planned for the area. This is one of many projects aimed at revitalizing this New York City neighborhood.
NEW YORK CITY-Due to an increase in its local and national sales staff, T-Mobile has nearly tripled its office space at 665 Broadway by inking a seven-year deal for 13,600 sf of space.
NEW YORK CITY-In what the partners anticipate to be the first of a number of deals in the neighborhood, a joint venture comprised of Thor Equities and principals of GVA Williams purchased 321 West 44th St. for $35 million.
QUEENS, NY-Things are moving along with the development of the lifestyle retail center dubbed the Shops at Atlas Park in Glendale, Queens, which is expected to open in the spring of 2005.
NEW YORK CITY-The GM Building continues to be a newsmaker as Vornado Realty makes a $200 million mezzanine loan secured by partnership interest in the trophy property.