News/Events
Wells Fargo Refis Long Island City Apartments With $115M Fannie Mae Loan
An affiliate of Rockrose Development has secured $115 million of agency-backed debt to refinance a newly completed multifamily complex in Long Island City, Commercial Observer has learned. Wells Fargo Multifamily Capital closed the Fannie Mae-backed loan for Rockrose’s 301-unit Eagle Lofts Collection, Phase 2, which opened last year in Long Island City’s Court Square neighborhood.…
Borough Developers Closes on $84M Sale of Downtown Brooklyn Development Site
Brooklyn-based Borough Developers has acquired a major mixed-use development site in Downtown Brooklyn, right across from the new retail project at a former Macy’s, Commercial Observer has learned. The firm acquired 485 Fulton Street and 147 Lawrence Street — a 33,153-square-foot site known as the Bridge & Fulton Development Site — from ICER Real Estate…
Capital Insight Acquires Hudson Yards Hotel Property in Foreclosure Auction
Capital Insight has acquired a former hotel with retail and parking in Manhattan’s Hudson Yards for somewhere between $68 million and $71.3 million, according to court records. Investment banking business Capital Insight — the former lender and debt holder on the property — took ownership of the 12-story building at 511 Ninth Avenue through a…
Toys R Us Plans 120 New Stores Ahead Of The Holidays
The toy retailer went bankrupt in 2017, resulting in the closure of all of its stores, primarily located in big-box retail.
ACORE Claims Keys to Would-be Life Sciences Facility in Hell’s Kitchen
The lender behind Georgetown Company and Beacon Capital Partners’ planned life sciences facility at 707 11th Avenue and 615 West 50th Street in Hell’s Kitchen has reclaimed the keys. ACORE Capital received the unconverted office properties through a deed in lieu of foreclosure valued at $60 million, according to city records filed Wednesday. ACORE’s Jason…
Jewelry Brand Julie Vos Signs 14K-SF Office Lease at 218-232 West 40th Street
We gather stones … some to make a diamond ring. Luxury jewelry brand Julie Vos has signed a 14,000-square-foot office lease at Savitt Partners’ 218-232 West 40th Street in Midtown Manhattan, tenant broker Lee & Associates NYC announced Thursday. Julie Vos will occupy the entire fourth floor of the 12-story office building. The length of…
Affinius Capital Provides $130M Construction Loan for Chicago Multifamily Tower
A joint venture between Mavrek Development and Fengate Asset Management has secured $130.4 million in construction financing to build a 25-story, 380-unit multifamily tower in Downtown Chicago, Commercial Observer can first report. Affinius Capital provided the debt, while CBRE’s John Parrett arranged the transaction. David Greenburg, managing director and co-head of debt origination at Affinius…
Shorenstein to Buy Fully Leased SoHo Office Property From Tishman Speyer
Tishman Speyer is selling the 12-story, 155,000-square-foot office building at 148 Lafayette Street in SoHo, at the corner of Lafayette and Howard streets, to Shorenstein Properties for around $135 million. The Real Deal was first to report the sale. The deal was repped by Newmark‘s Adam Spies, Doug Harmon, Adam Doneger, Marcella Fasulo, Avery Silverstein…
Digital Financial Services Firm Zip Takes 13K SF at Rudin’s 41 Madison Avenue
Zip, a digital banking company, is relocating to a new office space, Commercial Observer has learned. The firm, which is currently located at 245 West 17th Street in Manhattan’s Chelsea neighborhood, will move in April 2027 to Rudin’s 41 Madison Avenue in NoMad, where it will occupy 13,394 square feet across the entire 18th floor,…
