Startup Small Door Veterinary Opens Second NYC Location on Upper East Side
Small Door Veterinary will open its second location on the Upper East Side, Commercial Observer has learned. The startup, which offers subscription-based veterinary service, signed for 2,620 square...
View ArticleSunday Summary: The Race for New York City Council
Just about the moment we stopped talking about the national election, New Yorkers turned inward and began looking to the end of the de Blasio era. There were a lot of contenders to take his place now...
View ArticleJPMorgan Refis Meadow Partners’ 80-90 Maiden Lane With $259M CMBS Loan
Meadow Partners has nabbed $258.9 million in debt from JPMorgan Chase to refinance 80-90 Maiden Lane in Manhattan’s Financial District, Commercial Observer has learned. The commercial mortgage-backed...
View ArticleChetrit Lands $117M Refinance for UES Assemblage, Sells 1231 Third Avenue
Chetrit Group ended 2021 with a flurry of activity that included a substantial refinance plus a noteworthy sale, sources told Commercial Observer. Chetrit parted ways with 1231 Third Avenue, selling it...
View ArticleChetrit Buys LES Site With $70M Madison Realty Capital Loan
The Chetrit Group has sealed $70 million of acquisition financing for a planned mixed-use multifamily development on Manhattan’s Lower East Side, Commercial Observer has learned. Madison Realty Capital...
View ArticleChetrit Buying Out Hollywood Oceanfront Condo
Looks like the Chetrit Group is joining South Florida’s condo termination craze, buying out an aging, oceanfront condominium in Hollywood, Fla. Since last November, the New York-based developer has...
View ArticleChetrit Group Lands $172M in Financing for Florida Condo Projects
Chetrit Group has locked down not one but two financings for its Florida projects, Commercial Observer has learned. First, the firm closed a $94 million construction loan for its new condominium...
View ArticleMaverick Buys $110M Note on Chetrit’s 34th Street Hotel
Maverick Real Estate Partners has purchased the $110 million note on Chetrit Group’s planned 323-key hotel at 255 West 34th Street, sources familiar with the trade told Commercial Observer. Maverick —...
View ArticleChetrit, Stellar Seal $1.1B Multifamily Loan Hat Trick With $365M CMBS Deal
Mega loans have been few and far between recently, but Chetrit Group and Stellar Management just scored a $365 million commercial mortgage-backed securities (CMBS) refinance for Park West Village,...
View ArticleCannabis Museum Headed to SoHo, Sans Marijuana Sales
The only thing missing from The House of Cannabis, former Las Vegas nightclub owner Robert Frey’s planned marijuana museum, is weed itself. Frey inked a 10-year lease to open a 30,000-square-foot...
View ArticleSupermarket Owner Buys Brooklyn Retail Building From Chetrit Group for $34M
The owner of a Uzbeki grocery store chain Tashkent Supermarket, Odiljon Tursunov, bought the retail building at 1100 Kings Highway in Sheepshead Bay, Brooklyn, for $34 million from an entity tied to...
View ArticleLender Sues to Force Chetrit to Complete Penn Station Hotel
The lender on the Chetrit Group’s 33-story under-construction hotel near Pennsylvania Station took to the courts to force Chetrit to complete the project or fork over more than $100 million in...
View ArticleMultifamily Hits Speed Bumps After Rapid Growth
The red-hot multifamily sector that appeared impenetrable to macroeconomics for much of the COVID-19 pandemic is beginning to show some signs of cooling. Still, despite declines in multifamily rents...
View ArticleIan Schrager, Ed Scheetz Stepping in to Turn Around Chetrit’s Bossert Hotel
The Chetrit Group may have staved off foreclosure on its landmark Brooklyn Heights hotel with the addition of two hotel moguls as business partners, Commercial Observer has learned. Hoteliers Ian...
View ArticleChetrit Group’s $85M Loan on Hudson Yards Site in Default, Up for Sale
The $85 million loan package on Chetrit Group’s Hudson Yards site is in default and being marketed for sale, Commercial Observer has learned. The debt — consisting of a $53.7 million senior loan and...
View ArticleSunday Summary: The Distress Is Here
There’s no denying that the distress that the market was beginning to see in the last couple of weeks has stayed. If anything, it looks like it’s getting worse. The latest among the star real estate...
View ArticleChetrit Group Lands $55M Refi for NJ Mixed-Use Building
Chetrit Group has landed $55 million in financing for its mixed-use property in Fort Lee, N.J., Commercial Observer has learned. Starwood Mortgage Capital provided the loan, while Galaxy Capital’s...
View ArticleChetrit Group Sells 850 Third Avenue to Its Lender at $156M Loss
The Chetrit Group is finally severing ties with 850 Third Avenue and has offloaded the building to its lender, two years after struggling to keep the building out of foreclosure, PincusCo first...
View ArticleRelated, BH Group Plan 2-Tower Condo on Chetrit’s Pompano Beach Site
Development buddies Related Group and BH Group are planning a two-tower condo project on oceanfront land they recently purchased in Pompano Beach, Fla., from New York’s Chetrit Group. The joint...
View ArticleChetrit Lands $235M Construction Loan for UES Condo Tower
Can I get an ‘Amen’? In today’s financing environment, it’s warranted when closing a big financing. Chetrit Group just sealed a $235 million construction loan for its latest residential development on...
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