Midtown East has undergone a period of changes since its rezoning in 2017. The change that is happening has spiked real estate values, for instance, 242 East 58th St. in the Midtown East submarket has recently changed hands, selling for $11.5 million, $500,000 higher than the original asking price.
Benenson Capital Partners and Mack Real Estate have secured an $81 million refinancing for the construction loan on 433 East 13th St. in the East Village, a mixed-use property dubbed the “Eve”.
Typically, when there’s a drop in leasing activity the result is negative absorption while availability increases. But that is not an absolute rule, Frank Wallach, senior managing director of research at Colliers International, tells GlobeSt.com.
Commercial landlords swept up in coworking and open office trends have not lost sight on the importance of physical office space in accommodating the Millennial and Gen-Z consumer.
Highline Real Estate Partners has launched Highline Hospitality Partners, a new real estate platform that sponsors and invests in full- and select-service hotels and resorts.
Luxury developer SHVO in a joint venture with Deutsche Finance America and BLG Capital has secured a $545 million loan to finance the redevelopment of 711 Fifth Ave. in Midtown.
Jay Hennick, Global chairman and CEO of Colliers International, says, “The transaction establishes us as a major player in the engineering design and consulting sector in the U.S., providing us with another important engine for growth."
Cushman & Wakefield has been retained to arrange the sale of 2265-2267 Second Ave., two mixed-use developments totaling 8,000 square feet in Harlem.
Looking for Off Market Deals? https://robertkhodadadian.com/join-skyline-properties-investor-list/
