WeWork will renovate the UBS office in Weehawken

WeWork has scored its biggest design deal yet. The company’s Powered by We division will spearhead the renovation of the UBS office in Weehawken. WeWork launched the venture last year to offer expertise on real estate, design and office management to companies, according to Bloomberg. It will begin work on the UBS space in 2019, and the terms of the agreement have not been disclosed. Powered by We currently has 30 customers and 11 spaces, and it […]

source https://therealdeal.com/2018/07/30/wework-will-renovate-the-ubs-office-in-weehawken/

Normandy inks 34K sf lease with red-hot software company at 888 Broadway

An Australian software company that counts SpaceX and NASA as clients is moving into Normandy Real Estate Partners’ conversion of the ABC Carpet & Home building into high-end offices. Atlassian, which has a market capitalization of roughly $15 billion after going public in 2015, signed a lease for almost 34,000 square feet on the third floor of 888 Broadway, according to Compstak. Starting rent in the 10-year deal was north of $100 per square foot, […]

source https://therealdeal.com/2018/07/30/normandy-inks-34k-sf-lease-with-red-hot-software-company-at-888-broadway/

Lee & Associates opens I-sales shop

On the heels of launching a residential division, Lee & Associates NYC announced Monday that it formed a nine-person investment sales team. The group will focus on sales between $20 million and $200 million in Manhattan, Brooklyn and Queens, Commercial Observer reported. It has three managing directors: Vickram Jambu and Chris Varjan, both formerly of Venture Capital Partners, and Paul Popkin, formerly of the Popkin Group. The team also includes three brokers from the recently […]

source https://therealdeal.com/2018/07/30/3323939/

Here’s what the $10M-$20M NYC investment sales market looked like last week

In the world of mid-market New York City investment sales last week, FBE Limited sold an apartment building in Crown Heights and Prana Investments acquired a pair of Bronx residential buildings. Abraham Fruchthandler’s FBE Limited and investor Zev Marmurstein sold 1030 Carroll Street, a six-story apartment building in Crown Heights, for $18.4 million. The 41,000-square-foot building property is located near the Brooklyn Botanic Garden and contains 46 units. The buyer is 1030 Carroll Holdings LLC, […]

source https://therealdeal.com/2018/07/30/heres-what-the-10m-20m-nyc-investment-sales-market-looked-like-last-week-151/

Lightstone planning fourth Moxy Hotel at 151 Bowery

Hotel and condominium developer Lightstone Group plans to build a fourth Moxy Hotel in Manhattan at the site of a lighting store in the Bowery, the company said Monday. Lightstone is in contract to acquire the building at 151 Bowery from Emmut Properties, a memorandum filed Monday with the city’s Department of Finance shows. Lightstone declined to provide the amount that it would pay for the site at closing. Emmut Properties’ John Young did not […]

source https://therealdeal.com/2018/07/30/lightstone-planning-fourth-moxy-hotel-at-151-bowery/

New Empire hits Town with $250M defamation suit

Bentley Zhao’s New Empire Real Estate has slammed Town New Development with a $250 million defamation lawsuit after the brokerage firm said it was owed $2.4 million in fees. In an eight-page complaint dated July 27, New Empire said Town’s claims were “untrue, false, slanderous and defamatory.” What’s more, the suit claimed, the “malicious” nature of Town’s accusations had “damaged the plaintiff’s business reputation,” impairing its ability to obtain financing and market projects, and causing […]

source https://therealdeal.com/2018/07/30/new-empire-hits-town-with-250m-defamation-suit/

Howard Lorber, Michael Stern, Mauricio Umansky and more sign on to TRD’s South Florida real estate event

The Real Deal’s fifth annual Real Estate Showcase + Forum in South Florida is shaping up to be our best event yet. Developers Moishe Mana, Louis Birdman, Kieran Bowers and Michael Stern have signed on for our top developers panel; Turnberry’s Jackie Soffer and East End Capital’s Jonathon Yormak will be among the experts sharing insights on our commercial panel; The Agency’s Mauricio Umansky — also of “The Real Housewives” fame — and Howard Lorber […]

source https://therealdeal.com/miami/2018/07/30/moishe-mana-mauricio-umansky-jackie-soffer-and-more-sign-on-to-trds-south-florida-real-estate-event/#new_tab