NEW YORK CITY-A newly formed Cushman & Wakefield team is set to broaden the firm's multifamily valuation and appraisal service initiatives on a national basis. The company hopes to capitalize on soft economic conditions, predicting multifamily advisory revenues of $10 million by 2004.
NEW YORK CITY-The six-story, rent-stabilized asset is located at 204 W. 108th St. Jim Mann of the John Anthony Group brokered for both buyer and seller in the $6.1 million deal.
POTTSTOWN, PA-Exclusive agent Binswanger/CBB negotiates the sale of the 11-building complex, located at 231 Industrial Hwy. here. New owner Pottstown Development plans to develop the property into a mixed-use office and industrial complex in the near future.
NEW YORK CITY-Building owner Swig Burris Equities LLC has leased 13,650 sf to Wall Street Planning, an affiliate of Metropolitan Life Insurance Co., and 4,625 sf to technology consulting firm Buchanan Associates.
NEW YORK CITY-With cleanup operations at the World Trade Center site proceeding at a faster-than-expected pace, Manhattan finance, planning and government leaders are revising their plans for the area accordingly.
New York City-Having scored the managing and leasing assignments for the properties, Insignia hires the pair away from prior management Shorenstein Properties to continue as leasing agents for the buildings.
JAMAICA, NY-Hilton Hotels Corp. marks its first venture into the New York metro market with the opening of a 110-room Doubletree Club Hotel near JFK Airport. Hersha Hospitality Management will run the property under a franchise agreement with Hilton Hotels Corporation.
NEW YORK CITY-The Manhattan-based REIT, which expects to spend $985 million in real estate during the next two years, has secured $31.1 million in mortgage financing on five properties in Tampa, FL and Mechanicsburg, PA.
NEW YORK CITY-The consultant's first hotel advisory report since Sept. 11 forecasts an overall industry downswing until third quarter 2002, predicting the lowest occupancy rate in 30 years and the first annual average decline since 1940.