WHITE PLAINS—CBRE reports it has brokered a 101,000-square-foot lease with Tokyo-based Sumitomo Mitsui Banking Corp. at 1 North Lexington Ave., also known as the Gateway Building. The bank has committed to a 13-year lease at the more than 532,000-square-foot office building.
NEW YORK CITY—The NYCEDC also reported on Thursday it had awarded the first low-interest loan through the Emerging Developer Loan Fund. The project, 1193 Fulton Avenue Residence LLC, will be a nearly 21,000 square foot, 100% affordable, 25-unit residential building in the Morrisania section of the Bronx.
NEW YORK CITY—The financing is a cross-collateralized, 25-year facility made to affiliates of BH Properties, which acquired the leased-fee positions in September 2016.
NEW YORK CITY—The Attorney General's Tenant Protection Act would set a more reasonable standard that eliminates the need to prove physical injury to a tenant, and opens the door to prosecutions arising out of more commonplace and insidious tactics.
WESTBURY, NY—The buyer of the property is LESSO America, which according to its website is a wholly owned subsidiary of China LESSO Group Holdings Limited.
NEW YORK CITY—At Paramount Group she served as a VP of asset management and was responsible for 11 million square feet of property across New York, Washington, DC and San Francisco.
NEW YORK CITY—The German real estate family's purchase multiple is 21.5 times the rent with a capitalization rate of 3.3%, according to Britannia Group's co-founders and managing partners Jacob Rogosnitzky and David Zlotnick, who represented the buyer in the deal.
NEW YORK CITY—Perhaps the most controversial of the possible long-term solutions the governor has put on the table include New York State or the Port Authority taking over Penn Station operations.
NEW YORK CITY—The mayor announced on Dec. 13, 2016 the LifeSci NYC initiative that seeks to develop a new “Applied Life Sciences Campus” that would mirror the successful Cornell-Tech model.
BOSTON—The plan identifies six transit-accessible areas at the edges of existing city neighborhoods where it could guide new housing and commercial growth, supported by public realm and climate investments. Those six areas are: Sullivan Square, Newmarket and Widett Circle, Fort Point Channel, Suffolk Downs, Readville and Beacon Yards.
