NEW YORK CITY-The United Federation of Teachers is buying a 37-story Downtown building and signing a long-term lease on the 19-story structure next door. The union will sell its Midtown South headquarters and set up shop in Lower Manhattan starting in early 2003.

NEW YORK CITY-The real estate investment banking firm has acquired three facilities in a $13-million sale-leaseback deal with Dallas-based lumber distributor Builders FirstSource Inc.

NEW YORK CITY-New hotels opening in Manhattan will benefit from the lack of funding for hotel construction here. But investor interest in the lodging market on a national level is keen, with a recovery predicted for 2003.

NEW YORK CITY-New hotels opening in Manhattan will benefit from the lack of funding for hotel construction here. But investor interest in the lodging market on a national level is keen, with a recovery predicted for 2003.

JOHNSTOWN, PA-The shopping center REIT uses most of the 10-year loan to prepay existing debt on Capital City mall in Harrisburg, leaving $9.1 million in net proceeds.

NEW YORK CITY-The top-tier jeweler will open five stores this year. In addition to previously reported plans to set up shop in East Hampton and Waikiki, new locations will also include Orlando, St. Louis and Bellevue, WA.

NEW YORK CITY-While some New York-area businesses may see suburban and outer-borough low-rise office campuses as a safe option to Manhattan's towering landscape, mainstay industries such as finance and advertising are unlikely to abandon their presence here.

NEW YORK CITY-One of the industry powerhouse's key players will now head up its retail business as C&W forges ahead with its plan to drum up domestic retail business. The 18-year company veteran plans to expand C&W's retail presence in several key US markets.