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Sam Zell: Optimistic About New York’s Real Estate Future
We talked to Sam Zell, the grave dancer himself, this afternoon. It was short and sweet, and mostly about a profile The Observer's working on. But, Mr. Zell, whose Equity Residential recently bought...
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Core Investors Unfazed by Global Crisis and Domestic Imprudence
The potential for disruptions to global financial stability increased heading into last weekend. In Europe, both Germany and the European Central Bank rejected calls to expand the bailout to include...
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CVS Takes 10,000 SF on West 23rd St.
The American drug retail company, CVS, will be opening a new retail location in Chelsea. The company will take a 10,000 square foot unit at 500 West 23rd Street on the corner of 10th Avenue. Ross...
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Lehman Brothers Holdings Inc. Takes All of Archstone for $1.58 Billion
Lehman Brothers Holdings Inc. struck a deal last week to purchase a 26.5 percent stake in apartment company Archstone for $1.58 billion, as was first reported last week by The Wall Street Journal. Sam...
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Brooklyn Fixture Khim’s Millennium Market Coming to Downtown Brooklyn High-Rise
Khim’s Millennium Market – until now a fixture only in Williamsburg – has signed on to occupy the ground floor retail space at the base of Brooklyn’s tallest residential building, The Brooklyner at 111...
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Owen Thomas to Replace Mort Zuckerman as Boston Properties CEO
Owen Thomas will succeed Mortimer Zuckerman as chief executive of real estate investment trust Boston Properties on April 2, it was announced today. Mr. Thomas will also join the firm’s board of...
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Dermot Company’s Dennis Wong Lands $100M Loan for Kips Bay Buy
Signature Bank lent $100 million to an entity controlled by Dennis Wong—an investor in the Dermot Company and co-founder of San Francisco-based development firm SPI Holdings—for the acquisition of a...
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What Makes Starwood’s Barry Sternlicht Tick?
In the late 1990s, shortly after Barry Sternlicht, the head of Starwood Lodging Trust (and Starwood Capital Group), went through a dramatic and highly public purchase of ITT Corporation (the...
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Health Food Store and Pharmacy Opening First UWS Location
While traditional grocery stores have been struggling to survive, pharmacies, health-focused speciality stores and ethnic grocers continue to expand and add more locations, a trend CO recently covered....
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Letting the Cat Out of the Bag: Biscuits & Bath Nails First Lower Manhattan Deal
In the dog days of summer, Biscuits & Bath has sealed a deal to bring its business to Lower Manhattan for the first time, Commercial Observer has learned. The full-service dog care business, which...
View ArticleWinick Partner Darrell Rubens Leaves Firm After Two Decades
After 21 years, Darrell Rubens has left Winick Realty Group, Commercial Observer has learned. The executive vice president told CO he “resigned” on Monday and doesn’t know what he’s going to do next....
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Why More Real Estate Companies Are Getting Into the Tech Game
Over the weekend of Oct. 13 through Oct. 15, the Real Estate Board of New York hosted its inaugural hackathon, which brought teams from 40 different organizations together to compete for who could...
View ArticleVC Firm Fifth Wall’s Brendan Wallace Talks About What’s Next for Real Estate...
Brendan Wallace is the co-founder and managing partner of Fifth Wall Ventures, a venture capital fund dedicated to investing in start-up tech solutions for the real estate industry. The fund’s name...
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NYCB Lends Kushner $74M for NJ Multifamily Acquisition
New York Community Bank provided Kushner Companies with a $73.5 million loan to facilitate the $102.5 million acquisition and planned renovation of Prospect Place, a two-building multifamily community...
View ArticleEquity Residential and Fairfield Employ Roommate-Matching Service [Updated]
HomeShare, an online housing platform that allows affordable city living by matching like-minded roommates, has partnered with three of the nation’s largest apartment developers as part of its...
View ArticleHelaba Lends $260M on Upper West Side Rental Megalith
The Dermot Company and a Dutch pension fund have scored $260 million from Landesbank Hessen-Thuringen Girozentrale to refinance an Upper West Side rental apartment building the pair bought over the...
View ArticleDivcoWest Buys Arlington Apartment Building, Opens DC Office
San Francisco-based DivcoWest and Arlington, Va.-based Blackfin Real Estate Investors have purchased a 392-unit apartment building at 2399 Glen Echo Drive in Herndon, Va., according to a Divco press...
View ArticleWelcome to the List: Power 100’s Newest Members
For three breathless months, Amazon CEO Jeff Bezos upended New York real estate and created in our collective minds the idea that the city would rake in some $27.5 billion in tax revenue over the next...
View ArticleFifth Wall Raises $500M Fund to Invest in Proptech
Los Angeles-based Fifth Wall Ventures has raised $503 million to invest in technology companies targeting the real estate sector, the company announced Wednesday. The fund is the second for the...
View ArticleCIM Picks Up Skyline Towers From Equity Residential
CIM Group has acquired Skyline Towers, a two-building, 939-unit multifamily community in Falls Church, Va., from Equity Residential, according to JLL, which represented the seller in the deal. The...
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