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High Off His Sale of the Sony Building, David Bistricer Talks Condos, de Blasio
David Bistricer, the managing member of Clipper Equity, has worked through all phases of the market in his four-decade-plus run in New York City real estate. He’s had highs, like selling the Sony...
View ArticleWeWork Wrapping Up Deal for More Than 250,000 SF in Garment District
Coworking giant WeWork is putting the finishing touches on a lease for over 250,000 square feet in the Garment District, Commercial Observer has learned. WeWork is planning to take the space across a...
View ArticleFlexible Office Provider Primary Signs for 49K SF to Expand in FiDi
Primary, a co-working company that promotes health and fitness, has signed a 48,873-square-foot deal at Chetrit Group’s 26 Broadway to expand its operations within the Financial District building,...
View ArticleChetrit Group Scores $218M ACORE Refi for Multistate Multifamily Portfolio
ACORE Capital has provided a $217.5 million loan to Joseph Chetrit’s Chetrit Group to refinance the Empire Multifamily Portfolio— a portfolio of multifamily properties located in Florida, Indiana,...
View ArticleThe Bronx Is Flush With New Construction
The Bronx real estate market is still heating up. The northernmost borough surpassed $2 billion in construction starts for the third year in a row, according to Dodge Data & Analytics numbers...
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SL Green Provides $380M Refi for Gramercy Square Luxury Condo Development
Chetrit Group, Clipper Equity and Read Property Group have scored a $380 million loan from SL Green Realty Corp. to refinance Gramercy Square—the developer trio’s luxury residential conversion of the...
View ArticleArts Charter School Heads to FiDi
The New York City Charter School for the Arts has inked a sublease to move its campus to Chetrit Group’s 26 Broadway, according to tenant broker Savills Studley. The performing and visual arts school...
View ArticleBistricer Refinances Brooklyn’s 250 Livingston Street After Just Six Months
David Bistricer’s Clipper Equity has pulled in a $125 million refinancing from Citigroup to refinance a mixed-use building in Brooklyn just six months after it last re-upped its debt on the property,...
View ArticleAfter Years of Fakeouts, LA’s Historic Hotel Clark to Open in November
The historic Hotel Clark in Downtown Los Angeles, which has been sitting vacant for years, is finally scheduled to open in November. Though most Angelenos won’t believe it until they see it, since the...
View ArticleNuveen Refinances RXR’s 530 Fifth Avenue With $228M Loan
RXR Realty has nabbed $228 million from global investment manager Nuveen to refinance an acquisition loan on office space at the 26-story 530 Fifth Avenue, according to city records and sources who...
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Brookfield Reveals Renderings for Its South Bronx Megaproject
Brookfield Properties has finally released renderings for its massive planned residential development on the South Bronx waterfront. The development, known as Bankside, will bring 1,350 rental...
View Article20 Years of Decisions to Close Hospitals Have ‘Come Home to Roost’
A once-in-a-century pathogen overwhelmed New York medical centers this spring and at least part of the blame lies in decisions state and health care leaders made to eliminate 20,000 hospital beds over...
View ArticleTarget Signs Two Manhattan Leases, Will Replace UES Barnes & Noble
Target has signed two Manhattan leases totaling 79,000 square feet, and will replace the Barnes & Noble at the corner of East 86th Street and Lexington, Commercial Observer has learned. Target...
View ArticleSunday Summary: Retail Reprieve!
For the first time in a very long time, retailers have not shrieked and put their heads under a blanket every time they turned on the news. In fact, the industry saw a 17.7 percent spike in sales in...
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Mack Real Estate Lends $83M to Chetrit Group, Read Properties for Brooklyn...
Mack Real Estate Credit Strategies has provided The Chetrit Group with an $82.5 million first mortgage backed by three pieces of collateral, including the The Tillary Hotel and luxury rental property...
View ArticleChurchill Secures $35M Financing for Newly Acquired Garment District Lot
New York City-based private equity fund Pembrook Capital Management has lent $35 million against Churchill Real Estate Holdings‘ retail construction project at 259-261 West 34th Street in the Garment...
View ArticleSL Green Lends $204M on Chetrit’s Tribeca Luxury Condo Property
SL Green Realty Corp. has provided a $204 million loan to The Chetrit Group to refinance its luxury condominium property at 49 Chambers Street in Tribeca, sources close to the deal told Commercial...
View ArticleCCRE Backs $152M CMBS Refi in the Financial District
The owners of Lower Manhattan’s historic American Express Building have nabbed a $151.5 million CMBS refinancing from CCRE, according to a Kroll Bond Rating Agency analysis. The Chetrit Group and Read...
View ArticleFashion House Badgley Mischka Takes 26K SF in Midtown
The fashion house Badgley Mischka will consolidate its New York City offices to two floors at 133 West 52nd Street, and also nabbed the naming rights for the building, The New York Post reported....
View ArticleMarathon Lends $52M on Churchill’s 34th Street Office and Retail Project
Churchill Real Estate Holdings has nabbed a $52 million loan from Marathon Asset Management that refinanced previous debt on its nearly complete office and retail building in the Garment District,...
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