Follow TRD’s Deal Sheet on Instagram!

The Real Deal’s Deal Sheet is on Instagram! Our latest social media channel features snaps of retail and office leases, financing acquisitions and commercial and residential sales around the city, giving you an insider’s look at what’s happening around the industry. Shaya Sonnenschein and Shaya Ackerman of Meridian Capital Group represented the owner, Marx Development Group. The loan was issued by Mack Real Estate Credit Strategies. #commercialrealestate #nycrealestate #trdny #trddealsheet #nyc #nycloans #trdloans A post […]

source https://therealdeal.com/2018/08/01/follow-trds-deal-sheet-on-instagram/

Brookfield secures $530M loan for One Manhattan West

Brookfield Partners has secured a $530 million construction loan for One Manhattan West. The loan, provided by Wells Fargo, includes $450 million for the construction, and an $80 million project loan, Commercial Observer reported, citing loan documents. The 67-story, 2.1 million-square-foot office tower at 401 Ninth Avenue, is one of six buildings Brookfield is developing as part of its Manhattan West megaproject. The New York Industrial Development Agency was included alongside Brookfield in property records […]

source https://therealdeal.com/2018/08/01/brookfield-secures-530m-loan-for-one-manhattan-west/

Long Island City’s Z NYC Hotel sells for $43M

The Z NYC Hotel in Long Island City, owned by the estate of the late taxi magnate Henry Zilberman, has sold for $43 million. Merchants Hospitality Group bought the 100-room tower, at 11-01 43rd Avenue in Long Island City, according to The New York Post. The purchase includes land behind the hotel that could feature an additional building with 109 apartments, according to the Post. Zilberman, who died in 2014, initially purchased the land for […]

source https://therealdeal.com/2018/08/01/long-island-citys-z-nyc-hotel-sells-for-43m/

Brookfield has agreed to buy Forest City. Now what?

When talks with prospective suitors fell apart, Forest City Realty temporarily abandoned the idea of a sale. But just four months later, the real estate investment trust came back to the negotiation table with fewer business entanglements and a similar price. This time the pair cut a deal: On Tuesday, Brookfield Asset Management announced it would buy the REIT for $6.8 billion. The price per share — $25.35 — is slightly higher than the amount […]

source https://therealdeal.com/2018/08/01/brookfield-has-agreed-to-buy-forest-city-now-what/

“Trash-talking” and “distortion”: What a tech rival is saying about Compass

It’s the open letter ricocheting around the residential brokerage world. Addressed to Compass, the lengthy missive is full of zingers accusing the New York-based startup of “trash-talking,” “distortion” and being “boastful.” It concludes by inviting Compass to “set the record straight.” About what? According to the letter’s author, York Baur, CEO of MoxiWorks — a cloud-based technology platform for agents — Compass has overstated its market share and agent retention rate, and exaggerated claims of […]

source https://therealdeal.com/la/2018/07/31/trash-talking-and-distortion-what-a-tech-rival-is-saying-about-compass/#new_tab

International firm to merge with Midtown construction consultant Lehrer

An international construction company is merging with Midtown-based Lehrer, a construction and design firm that’s advised on major New York City projects including 220 Central Park South and new Whitney Museum. As part of the deal, Lehrer will operate as a division of Cumming — dubbed Lehrer Cumming. The new branch, which will have roughly 80 employees, will focus on project management and related services, the companies confirmed on Tuesday. The division is currently looking […]

source https://therealdeal.com/2018/08/01/international-firm-to-merge-with-midtown-construction-consultant-lehrer/

Is the assemblage game going to pieces?

Piecing together a sizable parcel of Manhattan land is a time-consuming and hairy process. And in today’s tanking investment sales market, many are just avoiding it outright. But there is still a handful of players — many of them among the city’s savviest and most risk-tolerant — in the assemblage game. And the chess moves they are making, which often involve seemingly unconnected purchases throughout Manhattan, offer a window on the next batch of projects […]

source https://therealdeal.com/issues_articles/is-the-assemblage-game-going-to-pieces/#new_tab