Regions Northeast
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.
$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.
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.
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.
New Jersey
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.
New York
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.
Real Estate Market News from the Northeast
In today's real estate market, information is everything. Recent real estate trends have indicated that while the domestic real estate market still has a ways to go before it begins to turn around, the commercial real estate market is performing much more strongly than the single family residential market. Be the first to get the most important Northeast real estate market information from the source the experts trust - Commercial Property News
|
|