The Real Deal New York

Posts Tagged ‘brookfield office properties’

  • Los Angeles

    Los Angeles

    In this month’s roundup of real estate news from across the country, The Real Deal brings you out to downtown Los Angeles, where Brookfield Office Properties is set to become the biggest office landlord following the $2.1 billion purchase of MPG Office Trust. There’s also news out of the nation’s capital, where the Trump Organization last month announced plans to convert the Old Post Office Pavilion into a luxury hotel. Click here to see these items and more.

  • brookfield

    From left: Brookfield’s Ed Hogan, Ermenegildo Zegna and Brookfield Place atrium

    High-end Italian men’s fashion brand Ermenegildo Zegna signed a 10-year lease to join the shops at Brookfield Office Properties’ Brookfield Place. [more]

  • Zuccotti Park during Occupy Wall Street and Dennis Friedrich (inset)

    Zuccotti Park during Occupy Wall Street and Dennis Friedrich (inset)

    A New York federal judge threw out a lawsuit against Brookfield Office Properties on Thursday which alleged that the real estate investment trust wrongfully worked with police to evict Occupy Wall Street protestors from Zuccotti Park in November 2011. [more]

  • From left: Dennis Friedrich and Ric Clark

    From left: Dennis Friedrich and Ric Clark

    Bermuda-based Brookfield Property Partners has offered to buy the remaining shares of New York-based Brookfield Office Properties, a consolidation that would create one of the country’s largest commercial landlords. Brookfield Property currently owns 51 percent of the commercial landlord, whose assets include massive Financial District mixed-use project Brookfield Place. [more]

  • 300 Madison Avenue and Dennis Friedrich

    300 Madison Avenue and Brookfield’s Dennis Friedrich

    Japanese trading house Sumitomo is taking 98,454 square feet at Brookfield Office Properties’ 300 Madison Avenue.

    Sumitomo will move from its current 74,000-square-foot space at Ruben Companies’ 600 Third Avenue, where it was spread across seven floors. At 300 Madison Avenue, a 35-story, 1.1 million-square-foot office building at 42nd Street which was developed by Harry Macklowe, it will take the entire third and fourth floors. [more]

  • From left: 180 Maiden Lane, Marc Holliday, 225 Liberty Street, Dennis Friedrich

    From left: 180 Maiden Lane, Marc Holliday, 225 Liberty Street, Dennis Friedrich

    If you’re a giant corporate tenant shopping for Manhattan office space, Downtown is probably your best bet. The neighborhood had five of the ten largest office spaces currently on the Manhattan market, according to an analysis of CoStar Group data carried out by Studley for The Real Deal. See full story and slideshow after the jump.

  • 245-park

    245 Park Avenue and Dennis Friedrich, CEO of Brookfield Office Properties

    An asset management firm grabbed nearly 38,000 square feet at Brookfield Office Properties’ 245 Park Avenue, at 47th Street.

    New York-based Wisdom Tree Investments signed a 15-year lease for the full 35th floor, which is nearly double the size of its current space at 380 Madison Avenue. The firm’s current lease expires in January, a month before the Madison Avenue building undergoes an extensive renovation. [more]

  • Mitch Rudin (Photo by STUDIO SCRIVO)

    Mitch Rudin (Photo by STUDIO SCRIVO)

    From the August issue: Mitch Rudin is president and CEO of U.S. commercial operations at Brookfield Office Properties. He joined Brookfield in 2011 from the brokerage CBRE, where he’d been president of U.S. Transaction Services. Currently, Rudin is overseeing Brookfield’s $250 million renovation of the World Financial Center and the construction of Manhattan West, a 5.4 million-square-foot office, residential and hotel development near Hudson Yards in Manhattan. Rudin attended Franklin & Marshall College and Boston College Law School. [more]

  • A rendering of Brookfield Place, Dennis Friedrich and the NYMEX building at 1 North End Avenue

    A rendering of Brookfield Place, Dennis Friedrich and the NYMEX building at 1 North End Avenue

    Brookfield Office Properties is in the final stages of acquiring a 16-story tower next door to its Brookfield Place (formerly the World Financial Center) office and retail complex, Crain’s reported. The Toronto-based real estate investment trust will likely pay north of $190 million for the 560,000-square-foot property. [more]

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  • Brookfield Place

    Brookfield Place

    With larger financial companies still shrinking, landlords in Lower Manhattan have shifted their marketing away from their traditional tenants and are now courting the media and technology tenants that have been pushing up rents in the Midtown South market, Bloomberg News reported.

    Facing a massive glut of space as Nomura departs Brookfield Office Properties’ Brookfield Place, in tandem with the hundreds of thousands of square feet available at the World Trade Center towers, landlords have had to switch out the gold and marble splendor that attracted the finance crowd for hipper amenities such as bike parking and electric car-charging stations. [more]

  • Dennis Friedrich and a rendering of Brookfield Place

    Dennis Friedrich and a rendering of Brookfield Place

    Brookfield Office Properties has shifted its attention to its international real estate holdings, marking a quiet period for its New York City real estate activity, with the exception of a $1 billion refinancing deal at the 8 million-square-foot Brookfield Place. The Toronto-based real estate investment trust may also look to convert some of the lower-level office space at its namesake complex to other use, such as retail. [more]

  • Brookfield CEO Dennis Friedrich, Phil Wharton, director of development, and Manhattan West

    Brookfield CEO Dennis Friedrich, Phil Wharton, director of development, and Manhattan West

    Brookfield Office Properties has begun major construction of a 120,000-square-foot deck for its Manhattan West project, the New York Post reported.

    After years of promises by both Brookfield and the Related Companies – the other major developer in the area with its Hudson Yards project – Brookfield’s move kicks off the first platform over the Amtrak rail yards between Ninth and 12th avenues. [more]

  • A rendering of Brookfield Place

    A rendering of Brookfield Place

    Brookfield Office Properties has secured $1 billion in financing for its Brookfield Place megaproject, the company announced in a release yesterday. [more]

  • The CEOs of the major New York REITs- Clockwise from top: Marc Holliday, Michael Fascitelli, Owen Thomas, David Neithercut, Dennis Friedrich, Timothy Naughton

    The large New York-focused real estate investment trusts struggled in the first quarter of 2013, unlike their national counterparts, with only SL Green Realty outperforming both the MSCI US REIT Index and the Standard & Poor 500 Stock Index.  [more]

  • From left: The groundbreaking ceremony and a rendering of the Hudson Yards

    The multibillion-dollar Hudson Yards development has been making a major push to woo prospective corporate tenants, the New York Times reported. Hudson Yards — which will span from 30th to 42nd streets, between Eighth Avenue to the Hudson River — is expected to create roughly 25 million square feet of office space, 3,200 hotel rooms and 20,000 residential units, a quarter of which have already begun construction. The project’s major players — including Related Companies, Brookfield Office Properties, Extell Development Company, the Moinian Group and Alloy Development — have started to put money into marketing. … [more]

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  • One Liberty Plaza

    Brookfield Office Properties inked a lease for 134,000 square feet of space at One Liberty Plaza to a reinsurance firm, Real Estate Weekly reported.Transatlantic Reinsurance Company will occupy three floors for 15 years at the 2.3-million-square-foot Lower Manhattan tower, Real Estate Weekly said. [more]

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    World Financial Center
    In preparation for Brookfield Office Properties’ $250 million renovation of the World Financial Center, Cosi Sandwich Bar and the fashion jeweler Erwin Pearl have closed, according to the development’s website. The World Financial Center, located on the Hudson River waterfront in Lower Manhattan, contains more than eight million square feet of office space. The mammoth renovation effort aims to transform the center’s retail and public space into a shopping and dining destination with a European-style marketplace and waterfront dining. … [more]

  • From left: Steven Baker, Kenneth Hochhauser, Joshua Siegelman and One New York Plaza

    Winick Realty Group has been tapped by Brookfield Office Properties to market exclusively the 40,000-square-foot retail concourse at One New York Plaza, according to a Winick press release. The marketing team comprises Winick President Steven Baker, Kenneth Hochhauser, executive vice president and Joshua Siegelman, associate director.

    The space is sub-level and vacant, according to published reports, and the release says the concourse has entryways to Whitehall, Broad and Water streets. It was also damaged during Hurricane Sandy with 23 million gallons of floodwater, necessitating a gut renovation. [more]

  • From left: Wade McDevitt and the World Financial Center

    Brookfield Office Properties is pushing back the opening of its revamped World Financial Center retail space by nearly a year, retail insiders say; the relaunch had been scheduled previously for the fall of 2013.

    The reopening date for the vast majority of the 200,000-square-foot, $250 million retail project is now August 2014, sources familiar with Brookfield’s plans, said. Two small portions of the project, the dining terrace and the Pavillion, an underground passageway that connects the PATH train station to the World Financial Center, are still slated to open in 2013. [more]

  • Warren Buffett

    Following statements of confidence in the U.S. housing market, investor Warren Buffett is entering his holding company Berkshire Hathaway into a venture with Toronto-based private equity firm Brookfield Asset Management, Bloomberg News reported. The deal gives Berkshire Hathaway a controlling interest in the Prudential and Real Living brokerages, but the companies plan to launch their own realty brand, Berkshire Hathaway Home Services, by next year.

    Berkshire Hathaway has been actively acquiring businesses related to the housing market, including a brick manufacturer, the loan portfolio of the bankrupt mortgage lender Residential Capital and real estate brokerages in Oregon and Connecticut. Buffett is counting on low interest rates, inventory and prices to spur a housing rebound, according to Bloomberg. [more]