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Weichert Commercial Completes Sale of 64,000-SF New Jersey Warehouse
Jan. 08, 2009
Weichert Commercial Brokerage Inc. has completed the sales transaction of a 64,000-square-foot warehouse situated on 1.93 acres located at 225 Scotland Road in Orange, N.J.  Weichert Commercial worked on behalf of both the seller and buyer.
Mack-Cali Taps CBRE as Leasing Agent for Manhattan’s 125 Broad St.
Jan. 07, 2009
CB Richard Ellis has been selected by Mack-Cali Realty Corp. as the exclusive agent to lease a portion of its office holdings at 125 Broad St. in New York City.
Trump SoHo Condo Hotel Clears NY Supreme Court Hurdle
Jan. 07, 2009
New York Supreme Court Justice Kibbie Payne has denied a petition by Soho Alliance Inc. that challenged Trump SoHo’s status as a lawful hotel condominium.
Cushman Report: Even Manhattan Humbled in 2008 
Jan. 06, 2009
After a steep decline in office rents and leasing activity at the end of 2008, many owners are attempting to lure tenants with aggressive deals, according to Cushman & Wakefield Inc.’s year-end report on the Manhattan office market.
Pantheon Signs Pair of Tenants in New Jersey
Dec. 31, 2008
Pantheon Properties has signed on two long-term tenants for more than 42,000 square feet at their Newark and Secaucus, N.J., industrial properties.
brooklyn bridge $48M First Phase of Brooklyn Bridge Park Project Breaks Ground
Dec. 31, 2008
Reusing and revitalizing Brooklyn’s deteriorated East River waterfront began with a groundbreaking in February on the piers area and now a $48 million contract was awarded to Skanska for Phase I of the Brooklyn Bridge Park project in New York City.
SL Green Aims to Raise $95M with Sharp Dividend Cut
Dec. 30, 2008
SL Green Realty Corp. has slashed a planned dividend payment in efforts to pay down debt and conserve funds for future investments. The company set the new dividend payment at $0.375 per common share for the fourth quarter of 2008. The third quarter dividend was $0.7875 per share.
delmonte Report: Manhattan Trophy Offices Lose Some Luster
Dec. 22, 2008
Weakening economic conditions in Manhattan’s office sector have begun impacting average asking rents for the city’s trophy-quality office buildings.
Developers Break Ground on $210M Residential, Retail Project in Jersey City
Dec. 17, 2008
Construction has begun on a $210 million development in Jersey City, N.J., that will feature two 47-story towers with a total of 524 rental apartments and 11,000 square feet of ground-floor retail space. Monaco Towers, developed jointly by Roseland Properties of Short Hills, N.J., and Garden State Developers of Jersey City, had originally been planned as a condominium property but will now offer rental apartments.
Capmark Secures $60M in Financing for New Jersey Storage Facilities
Dec. 15, 2008
Capmark Finance Inc. arranged $60 million in floating-rate financing for dry and cold storage facilities located at the Port Carteret Industrial Complex in Carteret, N.J.
Silverstein Wins Arbiter’s Nod in WTC Construction Dispute
Dec. 12, 2008
Settling a dispute over construction conditions at Manhattan’s World Trade Center, an arbitration panel has ruled that the public agency that owns the site has not finished preparatory work necessary for construction of two office towers. The decision will require the Port Authority of New York and New Jersey to pay developer Silverstein Properties Inc. millions of dollars in additional penalties because progress on the towers is being hampered. But both the agency and the developer also won high marks from the panel for their willingness to work together.
Serota Properties Proposes $300M Mixed-Use Project
Dec. 11, 2008
Serota Properties has submitted a proposal to develop a $300 million mixed-use community on 136 acres at the corner of Sunrise Highway and Veterans Memorial Highway in New York’s Islip, Long Island.
Henderson Global Acquires Boston M-F Community for $48M
Dec. 10, 2008
On behalf of its value-add CASA Partners IV fund, Henderson Global Investors, an independent investment manager, has acquired Reading Commons, a 204-unit multi-family complex located 10 miles outside Boston, for $48.5 million. The property marks the fund’s first luxury acquisition in the Northeast.
 
Boston
Henderson Global Acquires Boston M-F Community for $48M
Dec. 10, 2008
On behalf of its value-add CASA Partners IV fund, Henderson Global Investors, an independent investment manager, has acquired Reading Commons, a 204-unit multi-family complex located 10 miles outside Boston, for $48.5 million. The property marks the fund’s first luxury acquisition in the Northeast.
MORE NORTHEAST BOSTON HEADLINES
 
New Jersey
Weichert Commercial Completes Sale of 64,000-SF New Jersey Warehouse
Jan. 08, 2009
Weichert Commercial Brokerage Inc. has completed the sales transaction of a 64,000-square-foot warehouse situated on 1.93 acres located at 225 Scotland Road in Orange, N.J.  Weichert Commercial worked on behalf of both the seller and buyer.
Pantheon Signs Pair of Tenants in New Jersey
Dec. 31, 2008
Pantheon Properties has signed on two long-term tenants for more than 42,000 square feet at their Newark and Secaucus, N.J., industrial properties.
Developers Break Ground on $210M Residential, Retail Project in Jersey City
Dec. 17, 2008
Construction has begun on a $210 million development in Jersey City, N.J., that will feature two 47-story towers with a total of 524 rental apartments and 11,000 square feet of ground-floor retail space. Monaco Towers, developed jointly by Roseland Properties of Short Hills, N.J., and Garden State Developers of Jersey City, had originally been planned as a condominium property but will now offer rental apartments.
MORE NORTHEAST NEW JERSEY HEADLINES
 
New York
Mack-Cali Taps CBRE as Leasing Agent for Manhattan’s 125 Broad St.
Jan. 07, 2009
CB Richard Ellis has been selected by Mack-Cali Realty Corp. as the exclusive agent to lease a portion of its office holdings at 125 Broad St. in New York City.
Trump SoHo Condo Hotel Clears NY Supreme Court Hurdle
Jan. 07, 2009
New York Supreme Court Justice Kibbie Payne has denied a petition by Soho Alliance Inc. that challenged Trump SoHo’s status as a lawful hotel condominium.
Philips Plans Manhattan Office Condos
Jan. 07, 2009
Philips International has acquired a 100,000-square-foot building in Manhattan, which it will redevelop into for-sale office condominiums.
MORE NORTHEAST NEW YORK HEADLINES
 

Real Estate Market News from the Northeast


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