NEW YORK CITY-Led by more than $40 million in grants and tax breaks to assist Bank of New York in its move to 316,000-sf at a proposed Brooklyn office building, the Industrial Development Agency's recent funding initiatives also support several industrial and non-profit expansion projects.

NEW YORK CITY-The co-founder of Grubb's Nashville affiliate, Richard Fulton will oversee all transactions in the Northeast, Southeast, Mid-Atlantic and Midwest regions. He replaces Phil Meany, who is leaving to accept a COO position with Virginia-based the Gulick Group.

NEW YORK CITY-The locally based REIT and one of its affiliates pick up three distribution centers from Michelin North America. All will be net-leased to subsidiaries of Netherlands-based TPG N.V.

NEW YORK CITY-The grand opening of three Courtyard properties and two Residence Inns brings the chain's Canadian hotel count to 33 and boosts the number of Courtyard international flags to 50.

NEW YORK CITY-The financial services giant is reportedly looking for a quick turnaround on its former headquarters building, the 39-story tower at 53rd Street and Park Avenue. The 1.5-million sf asset is nearly 100% occupied.

NEW YORK CITY-The REIT is unloading its 29-property office and industrial portfolio in a $178-million deal that also includes five out-of-state assets. The non-core assets, particular the office properties, failed to meet performance expectations.

NEW YORK CITY-Housing advocates scored a victory of sorts yesterday when a state agency voted down HFA-approved federal Liberty Bond financing for two Downtown apartment projects. The PACB granted a third project's application for $125 million in bond funds.

NEW YORK CITY-The Lower Manhattan Development Corp. will respond to critics of its current planning process at a press conference this morning to reveal a new design study for the World Trade Center site and surrounding areas.