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NEW YORK CITY-Tarragon Realty Investors Inc. recently secured $104 million first mortgage pool financing with GE Real Estate in a transaction structured to allow flexibility for the investor and developer of for-sale housing and rental communities.
MILFORD, CT-A $5.2 million acquisition loan was arranged for the purchase of 670-680 Boston Post Road, two, three-story multifamily and retail buildings. Holliday Fenoglio Fowler LP arranged the financing for 670 Milford Realty.
NEW YORK CITY-Developers are just now putting in proposals to take advantage of the $8 billion Liberty Bond program. One $82 million project was approved and more $700 million in additional projects received initial inducement approval.
NEW YORK CITY-Showing its commitment to Downtown Manhattan, American Express is in the final stages of inking a deal for 70,000 sf of space at 3 World Financial Center. The credit card firm is part owner of the building, with Brookfield Properties.
NEW YORK CITY- Legislation proposed by Governor George Pataki would allow for the availability of more insurance coverage options for economic loss resulting from business interruptions in times of emergencies.
NEW YORK CITY-Securing Manhattan's buildings from future terrorist attacks can cost anywhere from 10 cents to $1 per sf for existing structures and 10% to 20% extra for new construction, industry experts assess.
NEW YORK CITY-Real estate industry veterans were honored for their work and community service at the Real Estate Board of New York's (REBNY) first annual awards.
NEW YORK CITY- Despite all the current doom and gloom, rent levels in the New York City office market are showing a sturdy growth and are in better shape than during the last recession.
NEW YORK CITY-A new investment firm, started by industry veteran Richard Mandel, has been established to provide mezzanine financing for hotel owners and investors in the top 25 US hotel markets.
NEW YORK CITY-Transportation will be the key issue toward making the Hudson Yards area an attractive location for the business sector, according to one real estate exec, who also cautioned that incentive programs would make the playing field uneven.