NEW YORK CITY-Land prices in the city and suburbs have become difficult if not impossible to predict following the September 11 attacks on the World Trade Center. Sector by sector and block by block, land values are changing on a daily basis.
NEW YORK CITY-$44.25 million in acquisition and construction financing has been secured by a locally based developer for an Upper West Side warehouse that is to be redeveloped as a loft-style residential property. The building is best known to West Siders for the scaled down Statue of Liberty on its roof.
NEW YORK CITY-A recently launched property management firm with an impressive pedigree closes out the year with five new agencies and deals in the works on another three.
NEW YORK CITY-The $85.6-million ground lease was finalized yesterday and the letters of credit were signed this morning, effectively moving the Gray Lady's new skyscraper off the drawing board and on to Eighth Avenue.
NEW YORK CITY-Governor George Pataki made a stop in lower Manhattan today to outline a program that will re-establish PATH service to Downtown, a major step in the post-Sept. 11 recovery process.
NEW YORK CITY-Less than an hour after the final papers were signed, a development dream team led by Governor George Pataki unveiled the design for the 1.5million-sf New York Times headquarters soon to tower over Eighth Avenue.
NEW YORK CITY-The law firm leases an additional 25,000 sf in the 43-story Madison Avenue tower, taking over space vacated by Deutsche Post Bank AG subsidiary PB Capital Corp.
NEW YORK CITY-Two Manhattan-based real estate trusts, one an affiliate of investment banking firm W.P. Carey & Co., have sealed deals to acquire more than a million sf in net-leased industrial properties.
NEW YORK CITY-The Manhattan-based REIT and the New York State Common Retirement Fund expand their joint venture, adding $50 million and $150 million, respectively, for the acquisition of an additional $560 million in net-leased office and industrial properties.
NEW YORK CITY-Before the World Trade Center bombings, city universities increasingly used their enhanced credit status to invest in student housing. A temporary decrease in rents has some schools looking for bargains in traditional multifamily buildings but experts say the market for dorm housing is on the rise.