140 West Street NYC

T.J. Maxx parent signs massive retail lease at Shaoul’s 140 West Retailer to take 66K sf for Marshalls

from left: 140 West Street, Ben Shaoul and Marshalls

Marshalls will join Downtown retailers like Century 21, Zara and Urban Outfitters after its parent company signed a lease for 66,000 square feet at 140 West Street.

TJX, the parent company of Marshalls and T.J. Maxx, scooped up the space late last year at the base of the historic Verizon building, whic爱上海 爱上海同城手机版h Ben Shaoul’s Magnum Real Estate and CIM Group are converting to condos, the New Yo上海贵族宝贝论坛 上海贵族宝贝rk Post reported.

Marshalls will take a small portion of the first floor and two lower levels in the deal that had an asking rent of $350 per square foot on the ground floor and $100 per square foot on the lower level.

Shaoul and CIM purchased the retail space for $40 million in 2014.

The property covers a full block between Barclay, Vesey, West and Washington streets.

Retail giants Nike and Under Armour had previously had their eyes set on the retail offering,爱上海同城 爱上海 which totaled 100,000 square feet. There is still space available after the Marshalls deal, but it s not clear wh新上海贵族宝贝论坛 上海贵族宝贝交流区ether Nike and Under Armour are still game for it.

Ripco Real Estate’s Peter Ripka and Richard Skulnik negotiated on behalf of the tenant上海龙凤论坛sh1f 上海龙凤论坛., while David Tricarico of Cushman Wakefield represented ownership. [NYP] – Rich Bockmann

Tags: ben shaoul, CIM Group, marshalls
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Boston Properties Owen Thomas

Boston Properties won t be selling prime assets this cycle: Owen Thomas CEO talks strategy as keynote speaker at NYU REIT conference

Rendering of Dock72 and Owen Thomas

Boston Properties was an ac爱上海同城论坛 爱上海同城tive seller toward the end of the last real estate cycle, selling trophy office towers like 280 Park Avenue for $1.2 billion in 2006 and 5 Times Square for $1.3 billion in 2007.

But don’t expect the real estate investment trust to put any of its prime assets on the block anytime soon.

“We have been more reticent market-timer-sellers of our high quality assets this cycle,” CEO Owen Thomas said during his keynote address Thursday morning at the NYU Schack Institute of Real Estate’s annual REIT symposium.

Instead of cycling capital through selling and buying office properties, the company is adopting a strategy of selling partial stakes – such as the 45 percent interest in a trio of buildings it sold to Norges Bank in 2014 for $1.5 billion – and pumping that capital into new construction.

“Almost all our new investment is coming in development versus acquisition,” he added.

Thomas – who took over the CEO job in 2013 and goes by the nickname “O.T.” – kicked off the 22nd annual symposium at the Pierre Hotel discussing Boston Properties’ transition from a “founder-led” business at a time of uncertainty, both for the real estate industry in general and REITs in particular.

Thomas said that the strategy of buying low and selling high has become particularly difficult, so the company is inst[……]

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Sean Ludwick to be sentenced tomorrow in Hamptons fatal drunk driving crash

Real estate developer Sean Ludwick, who pleaded guilty in August to killing his friend, Douglas Elliman broker Paul Hansen in a 2015 drunk driving accident in the Hamptons, will be sentenced Wednesday, according to 27east. Ludwick, who has a home in Bridgehampton, was accused of dragging his friend out of 上海贵族宝贝论坛 上海贵族宝贝a car wreck and leaving him on the side of the road. Ludwick has admitted to driving with a blood-alcohol level of .18 percent. According to the report, he accepted a plea deal and is expected to serve three to nine years in prison. He is slated to be sentenced by Justice Camacho in State Supreme Court in Central Islip. He was the founder, along with Saif Sumaida and Ashwin Verma, of BlackHouse Development in 2007. [2上海贵族宝贝 上海千花网龙凤论坛7east] [TRD]

Tags: Hamptons
We are having som上海龙凤论坛sh1f 上海龙凤论坛e techn新爱上海同城对对碰论坛 上海同城对对碰交友社区ical difficulties. Try again later.

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Douglas Elliman Revenue

Douglas Elliman s profitability falls over 50% with fewer new dev closings Revenue rose after brokerage closed $7B in sales in Q3

Clockwise from left: 125 Greenwich Street, Madison Square Park Tower, 1 Seaport and Howard Lorber (Credit: Douglas Elliman and Getty Images)

Douglas Elliman’s sales volume rose during the third quarter, 阿爱上海同城 阿拉爱上海同城but its profitability slipped more than 50 percent thanks to fewer “higher margin” new development closings.

The New York-based brokerage pulled in $190.4 million in revenue, up 3.2 percent from $184.5 million during the prior-year period, according to filings by its parent company, Vector Group. But net income was $4.2 million — down from $8.7 million in 2016.

Those numbers were the result of a strong low-end market but softer new development segment, where Elliman has had fewer closings despite a robust pipeline of projects it is marketing.

“There were m阿爱上海同城 阿拉爱上海同城ore closings in ’16 than in ’17 — quite a bit more,” Chairman Ho上海夜网论坛 上海夜网ward Lorber said during an earnings call Tuesday.

Overall, Elliman closed $7 billion worth of sales during the quarter compared to $6.8 billion in 2016. For the first nine months of the year, Elliman closed sales worth $19.8 billion compared to $18.9 billion a year earlier.

Lorber said the low-end of the market is “very, very strong,” as is the high-end. The mid-market segment is “kind of quiet,” he said.

When it comes to new developments, however, Lorber said there’s a dearth of new projects that are on the drawing board[……]

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90 Park Avenue

$1B software firm signs office lease at Vornado’s 90 Park UiPath taking 26K sf in 41-story tower

90 Park Avenue and Steve Roth

A business software company that just raised $153 million is planning to move into 26,00爱上海同城 爱上海0 square feet of office space at Vornado Realty Trust’s 90 Park Avenue.

UiPath, which was founded in Bucharest in 2005, plans to move 100 employees to the Park Avenue tower in May, Crain’s新上海贵族宝贝论坛 上海贵族宝贝交流区 reported.

The company, which specializes in the fast-growing sector of robotic process automation, moved last year into a WeWork space in Midtown. UiPath is valued at $1.1 billion following its Series B funding round.

Tenants in Vorando’s 41-story, 880,000-square-foot building include Compass and PricewaterhouseCoopers新上海贵族宝贝论坛 上海贵族宝贝交流区, which inked a deal in 2016 for 240,000 square feet in the building. [Crain’上海千花网交友 上海千花网论坛s] – Rich Bockmann

Tags: 390 park avenue, Commercial Real Estate, Office Leasing,上海同城对对碰交友社区 上海夜网论坛 Vornado Realty Trust
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Hotel Association New York City

Top hotel trade group sits on sidelines while debate roars over special permits Its members have conflicting views on the plan

HANY s Vijay Dandapani, Bill de Blasio and the Hotel and Motel Trades Council’s Peter Ward (Credit: Getty Images)

As the de Blasio administration moves forward with its proposal to limit hotel development in large swaths of the city, the main trade group representing hotel owners – whose members have conflicting attitudes toward the plan – is sitting the debate out.

The Hotel Association of New York City, which represents owners of some 280 hotels, has yet to weigh in on the plan the mayor first announced in late 2015 that would require developers to receive a special permit to build new hotels in light manufacturing zones.

And HANYC has decided not to take 上海千花社区 上海千花网交友a position on the proposal, sources told The Real Deal. That’s because its members are reluct上海千花社区 上海千花网交友ant to run afoul of the politically powerful union pushing the plan, and because they can’t reach a consensus among those who stand to win and lose from its fallout.

Hotel association president and CEO Vijay Dandapani, who joined the organization early last year, declined to comment.

Evan Weiss, CEO of LW Hospitality Advisors, said most developers he’s come across are against the change, which is being pushed by the New York Hotel Trades Council.

“While we are sure there are some owners that hold the dissenting view that the M1 zoning restriction would be a positive for their existing/operating hote[……]

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Real estate data startup CrediFi raises another $6M Company has now raised $29M overall

Credifi fou新爱上海同城对对碰论坛 上海同城对对碰交友社区nder Eli Razin

The real estate data and analytics startup CrediFi just got $6 million richer.

The latest round of investments comes on the heels of its $13 million Series B funding round, and it will be used to expand the company’s recruiting efforts and efforts to get to market.

Liberty Technology Venture Capital阿拉爱上海同城 爱上海龙凤419桑拿 II led the round上海龙凤论坛 新上海贵族宝贝论坛 of fundraisin爱上海同城对对碰 爱上海同城论坛g, along with Maverick Ventures Israel and Japanese real estate investor Mitsui Fudosan. The company also received additional funds from its current investors Battery Ventures, Viola Ventures and OurCrowd.

Credifi, founded in 2014 by former Thomson Reuters executive Ely Razin, sells a database with inform上海夜网 阿爱上海同城ation on commercial real estate loans. It claims to cover $13 trillion in debt deals in the U.S. The company is based in Tel Aviv and New York. CrediFi has now raised $29 million overall, including its latest round.

Tags: Big Data, startups, Tech
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