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AIG Offshoot PineBridge to Bunk with Hank Greenberg at 399 Park
PineBridge Investments, the asset management firm that AIG recently sold to Pacific Century Group for $277 million, has signed a hefty lease at 399 Park Avenue, the midtown skyscraper that recently...
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Cushman Retail Team Bullish on Lower Manhattan Leasing
The list of luxury retailers jockeying for space in Lower Manhattan the past several years, particularly along Wall Street, has been impossible to miss. The same holds true for investment in...
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These Days, Tenants Housed in Insurance Submarket Anything But
Since emerging in the early 20th century, the Insurance District has taken over the northern streets of the Financial District. The district spans from Broadway to William Street and from Pine Street...
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JVs Take Advantage of Rental Apartments: the Prize Asset for Ownership
Based on investment sales over the first nine months of the year, it looks like the No. 1 preferred asset is rental properties—especially in the metropolitan area. With record low vacancy rates—coupled...
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On Top of the World: SL Green’s Steve Durels on Last Year’s Viacom Deal and...
When Viacom pulled the trigger on its 1.6-million-square-foot renewal and expansion at 1515 Broadway last year, SL Green Realty served up a stinging rebuke to swirling rumors that the media giant would...
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So They Say: Ben Bernanke Talks Refinancing Troubles, AIG and Other Hard Times
Ben Bernanke. Ben Shalom Bernanke, who ended his tenure as chairman of the Federal Reserve in February, recently told a conference moderator in Chicago that he is unable to refinance his home mortgage...
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Old New York: 32 Old Slip
1983-1987 32 Old Slip. New York real estate developer HRO International wins a bid to purchase a building site at 23-43 Old Slip, originally held by the United States Assay Office—the last public gold...
View ArticleAIG Lends $190M for Dallas Office Tower in Deal Brokered by HFF
AIG closed a $190 million debt deal with Atlanta-based Goddard Investment Group to refinance and upgrade the firm’s recently acquired Fountain Place office tower in Dallas, Commercial Observer has...
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Life Companies Gaining an Edge as Regulatory Hurdles Become a Reality in 2016
Even though it’s a new year, the countdown has just begun in the commercial real estate world. In less than 11 months, on Dec. 24, 2016, Section 15G of the Dodd-Frank Wall Street Reform and Consumer...
View ArticleRegulations at Just the Wrong Moment
The commercial real estate lending market is about to get more complicated, as the new capital surcharge regulations on the country’s largest banks started to be phased in as of Jan. 1. These...
View ArticleQ&A: Michael Maturo, President and Chief Financial Officer at RXR Realty
RXR Realty is undoubtedly on fire. In the first few months of 2016 alone, the Long Island-based real estate firm attained a $225 million construction loan to transform the historic Pier 57 on the West...
View ArticleRXR Nails Down $1.2B in Financing for Massive NYC Office Building Sale [Updated]
With big sales come big loans. A partnership between RXR Realty and real estate investor David Werner used $1.2 billion in financing from AIG and Morgan Stanley to fund the much-awaited $1.65 billion...
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SL Green Lines Up Five Banks for $1.5B One Vanderbilt Loan
SL Green Realty Corp. has lined up Bank of China, Bank of New York Mellon, J.P. Morgan Chase, TD Bank and Wells Fargo to provide a $1.5 billion construction loan for One Vanderbilt—Grand Central...
View ArticleBarney Frank Wanted to Focus on Affordable Housing, But the Banks Sunk His Boat
The name “Barney Frank” grits the teeth of a lot of people in banking. Many are only too eager to proclaim how much they loathe his signature piece of legislation (the Dodd-Frank Wall Street Reform and...
View ArticleRXR, Werner Score $1.4B Refi of 5 Times Square [Updated]
Morgan Stanley has provided a $1.4 billion refinancing to RXR Realty and David Werner for their 5 Times Square office building which spans West 41st to West 42nd Streets on Seventh Avenue, sources have...
View ArticleSquare Mile’s Nolan Hecht on Why Hotels Are His Happy Place
Inside Square Mile Capital’s offices at 350 Park Avenue between East 51st and East 52nd Streets sits a proud Cleveland native with a penchant for hotels. Nolan Hecht fell in love with the hospitality...
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Stuart Saft: Why the Brooklyn Kid Is Busy Breaking Up Buildings
Stuart Saft, head of Holland & Knight’s New York real estate practice, has seen it all in real estate. From assisting MetLife in its acquisition of American International Group’s global real...
View ArticleBroad Street Development and Invesco Recap 80 Broad Street, Valued at $235M
Broad Street Development and new equity partner Invesco have completed a $235 million recapitalization on 80 Broad Street, between Stone and Marketfield Streets, according to an announcement from BSD....
View ArticleJLL’s Peter Riguardi Has Been on a Nonstop Winning Streak
Peter Riguardi has had a very good few years. In 2016, the president of JLL’s New York region and a team represented BlackRock in its 850,000-square-foot lease—spanning 15 floors—at 50 Hudson Yards....
View ArticleAIG Lends $52 Million on NJ Multifamily Complex
BNE Real Estate Group has scored a $52 million loan to refinance the Link at Aberdeen Station, a luxury multifamily property in Aberdeen, N.J., Commercial Observer has learned. AIG provided the 15-year...
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