NEW YORK CITY-The sublease for a portion of the 27th floor went for $100 per sf. The former tenant, a law firm, is consolidating its New York offices at Park Avenue Tower on 55th St.
NEW YORK CITY-Even though more than two million sf of office space will come to market over the next two years, rents are not projected to level off. That should leave many tenants finding class B space attractive.
NEW YORK CITY-Multifamily housing offers the most promise, according to the report, while the demand for warehouse and office space contracts and the need for office space declines significantly.
NEW YORK CITY-A founding member and former managing director of Global Property Advisors, Shain also created the North American Property Securities Trust for European institutional investors.
NEW YORK CITY-The Web-based technology is designed to facilitate communication among a broad range of project participants including owners, tenants, developers, contractors as well as architects, engineers and materials suppliers.
NEW YORK CITY-MetLife will keep 500 employees at the building, which will remains its corporate headquarters. CSFB will occupy all but 260,000 sf, which will be leased back to the insurance and financial services firm.
NEW YORK CITY- REIT investors should do well with this counter-cyclical sector because these assets do well when the economy slows down. The firm has upgraded its ratings for three multifamily stocks.
NEW YORK CITY-What made the 16-story apartment rental attractive was that 75% of the buildings in the area have been converted to cooperative or condominium ownership.
NEW YORK CITY-Most of the 811,182-sf building, which is 99% leased, is occupied by Mellon Bank. The class-A facility earned a National Preservation Honor Award after if was renovated.
NEW YORK CITY-Most of the 811,182-sf building, which is 99% leased, is occupied by Mellon Bank. The class-A facility earned a National Preservation Honor Award after if was renovated.
