John Salustri has covered the commercial real estate industry for nearly 25 years. He was the founding editor of GlobeSt.com, and is a four-time recipient of the Excellence in Journalism award from the National Association of Real Estate Editors.
NEW YORK CITY-In a major coup, Insignia has hired Woody Heller away from Jones Lang LaSalle. He adds the title executive to his managing director title. Heller also takes his senior associate, Carly Borg, with him as Insignia continues to beef up its Capital Advisors Group.
NEW YORK CITY-No reports of terrorism are coming from the scene at West 19th Street, which is reeling now from an explosion that injured as many as 50 people.
NEW YORK CITY-Accounts of Arthur Andersen's decision to bail out of its Times Square Tower lease are premature, building owner Boston Properties says in an exclusive interview with GlobeSt.com.
NEW YORK CITY-Speculation and rumors that scandal-ridden Arthur Andersen would pull out of its 650,000-sf lease at Times Square Tower were proved true yesterday. The deal is officially history.
Some people simply know how to land on their feet. Take Frank Scavone, former COO of Nomura Capital, who within months of the business's demise in mid…
NEW YORK CITY-L&L Acquisitions, a current owner in both properties, has changed partners and is dancing now with Investcorp, dropping the Carlyle Group as its joint-venture partner in the two properties.
NEW YORK CITY-Grubb & Ellis and building owner Coca-Cola aren't talking numbers. But GlobeSt.com has learned that major upgrades to 711 Fifth--owned by Coke--will reap major rental revenue hikes over the next decade.
NEW YORK CITY-Newly formed Normandy Real Estate Partners snags its first Manhattan office asset in the low to mid-$400s per sf. The buyer says 1370 was being pursued by those squeezed out of the 450 Park Ave. buy. Normandy bought the asset in partnership with Scott Landis.
NEW YORK CITY-Taconic principal Paul Pariser tells GlobeSt.com that the New York State Common Retirement Fund has "exercised its right of first refusal" and given the go-ahead for a Taconic/NYSCRF acquisition of 450 Park Ave. The move matches RFR Holding's bid.