The Real Deal New York

Posts Tagged ‘brookfield office properties’

  • Mitch Rudin and the Grace Building at 1114 Avenue of the Americas

    From left: Mitch Rudin and the Grace Building at 1114 Avenue of the Americas

    Brookfield Office Properties has signed private equity and venture capital firm Insight Venture Partners to a 31,285-square-foot lease at the Grace Building on Bryant Park, The Real Deal has learned from CompStak.

    In the 15-year deal, Insight will pay rents starting in the low-$90s per square foot for the 36th-floor space at 1114 Avenue of the Americas, CompStak data show. [more]

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  • 1 New York Plaza

    1 New York Plaza

    WEEKENDEDITION The architectural design firm Davis Brody Bond has signed a 26,354-square-foot lease in the Brookfield Office Properties-owned 1 New York Plaza. [more]

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  • A rendering of the retail space at Brookfield Place

    A rendering of Brookfield Place

    Brookfield Office Properties is looking to use its swanky retail space at Brookfield Place in Lower Manhattan as a lure to attract office tenants. After a $250 million overhaul of the 250,000-square-foot retail space, Brookfield hopes that high-end tenants such as Hermès and Burberry will appeal to potential office clients and convince them to fill the 8.5 million-square-foot office space. [more]

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  • brookfield

    Brookfield Office’s Mitch Rudin and Brookfield Property’s Ric Clark

    Brookfield Property Partners has upped its cash offer to buy Mitch Rudin-led Brookfield Office Properties — Lower Manhattan’s largest office landlord — to roughly $5.1 billion.

    Brookfield Office’s board plans to advise the shareholders to accept this new offer, which increases the cash portion by $1 per share to $20.34 per share. In place of cash, shareholders can receive one limited partnership unit under the offer. In September, Brookfield Property’s offer was valued at $5 billion. [more]

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  • sjp-honorees

    Newcastle Realty Services’ Margaret Streiker Porres and Urban Development Partners’ Gary Davis at a Young Jewish Professionals event

    On the Town is a weekly feature that chronicles the parties, panels and other events in New York City’s real estate community. Read on for details of happenings from Nov. 11 to Nov. 17.

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  • Grace Building at 1114 Avenue of the Americas, Bain chairwoman Orit Gadiesh and 3 Times Square

    Grace Building at 1114 Avenue of the Americas, Bain chairwoman Orit Gadiesh and 3 Times Square

    Top consulting firm Bain & Co. is trading Times Square for Bryant Park. Bain’s New York team will move next year from the Thomson Reuters building, at 3 Times Square, to a nearly-100,000-square-foot space in Brookfield Office Properties’ Grace Building, at 1114 Sixth Avenue. [more]

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  • Dennis Friedrich and a rendering of Brookfield Place

    Dennis Friedrich and a rendering of Brookfield Place

    Rather than reabsorbing the office space they cast off during the economic downturn, big banks are continuing to decrease their presence in Manhattan. The 10 largest banks in the city reduced their space by 6 million square feet to just under 32 million square feet between 2008 and early 2012, according to a report by International Strategy & Investment Group. [more]

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  • NYC-focused REITs hit hard in Q3

    October 08, 2013 02:52PM
    From left: Marc Holliday, Stephen Green and Steve Roth

    From left: Marc Holliday, Stephen Green and Steve Roth

    New York-centric real estate investment trusts took a hit in the third quarter thanks to “taper talk” from the Federal Reserve, according to the investment banking firm Sandler O’Neill + Partners. [more]

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  • 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.

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  • 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]

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  • 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]

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  • 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]

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  • 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]

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  • 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.

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  • 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]

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  • 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]

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  • 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]

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  • 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]

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  • 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]

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