The Real Deal New York

Posts Tagged ‘carlyle group’

  • Jay Neveloff and 570 Seventh Avenue

    Jay Neveloff and 570 Seventh Avenue

    A joint venture between the Carlyle Group and Capstone Equities, which paid $83 million for a Times Square office building at 570 Seventh Avenue last year, is considering creating a condo offering specifically for the property’s lucrative signage, The Real Deal has learned.

    The 21-story, 170,000-square-foot Class B building is located at West 41st Street, one block south of Times Square. The area plays host to more than 350,000 pedestrians daily, and brands are willing to pay landlords millions of dollars in annual rent to advertise on their buildings. [more]

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  • From left: Rendering of One Flatbush and 1-11 Flatbush Avenue

    From left: Rendering of One Flatbush and 1-11 Flatbush Avenue

    Capstone Equities and the Carlyle Group are in contract to by two parcels near the intersection of Flatbush and Fulton Street for $35 million. [more]

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  • cohen

    Marc Horowitz and 475 Park Avenue South

    Talent Partners, a company that provides payroll services to top advertising agencies, grabbed 32,250 square feet at the Cohen Brothers Realty Corporation-owned 475 Park Avenue South.

    The 35-story office tower is in the middle of a $40 million renovation project that is slated for completion this year. The lobby, bathrooms, elevators and curtain wall are all receiving upgrades. Asset management firm the Carlyle Group agreed to buy a majority interest in Talent Partners last month. [more]

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  • 200-Water-Street---Dumbo

    200 Water Street in Dumbo

    An Israeli bank has provided $72.5 million in construction funding toward a 12-
    story Dumbo condominium-and-rental project.

    The Carlyle Group recently partnered with Megalith Capital Management and Urban Realty Partners to develop three contiguous parcels at 173 Front Street, 177 Front Street and 200 Water Street, as The Real Deal reported. Bank Leumi is providing the financing for the project, which is expected to cost more than $100 million. [more]

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  • carlyle-megalith

    From left: 200 Water Street in Brooklyn, Megalith’s Samvir Sidhu and 173-177 Front Street in Brooklyn

    UPDATE, 4:36 p.m., May 27: An affiliate of Washington, D.C.-based global asset management firm Carlyle Group acquired three contiguous parcels in Dumbo from Midtown developer Megalith Capital Management for a total of $30.6 million — the same amount the sites changed hands for last year, according to property records filed with the city today. The two companies are partnering together on the development of the site.  [more]

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  • KLM buys 920 Broadway for $120M

    May 07, 2014 08:50AM
    920-broadway

    From left: 920 Broadway, Doug Harmon and Adam Spies

    KLM Construction Corporation acquired an 110,000-square-foot building at 920 Broadway in the Flatiron District for $120 million.

    The Carlyle Group and ClearRock Properties handed off the 16-story office property near East 21st Street for $1,100 per square foot – a record for the area, the New York Post reported. Eastdil Secured brokers Adam Spies, Doug Harmon and Adam Doneger arranged the deal. [more]

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  • winick-570-seventh

    From left: 570 Seventh Avenue, Jeff Winick and Darrell Rubens

    Capstone Equities and the Carlyle Group tapped Winick Realty Group to market a 20,000-square-foot flagship retail space at 570 Seventh Avenue near 41st Street, Winick Realty Group told The Real Deal exclusively. [more]

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  • 414w14

    Amancio Ortega and 414 West 14th Street

    Ponte Gadea Group, the U.S. investment arm for Spanish billionaire Amancio Ortega, has acquired a 56,000-square-foot office and retail building at 414 West 14th Street for $94 million, according to public records filed with the city today. [more]

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  • From left: Carlyle Group co-founders, William Conway Jr., Daniel D’Aniello and David Rubenstein and 920 Broadway

    From left: Carlyle Group co-founders William Conway Jr., Daniel D’Aniello and David Rubenstein, and 920 Broadway

    Private equity giant the Carlyle Group and ClearRock Properties will renovate their 16-story office building at 920 Broadway to the tune of $10 million. The building, which the firms purchased for $58.5 million from Yeshiva University in February, has 110,000 rentable square feet and 96 feet of retail frontage on Broadway. [more]

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  • 800 Park Avenue and Brett Wyard(inset)

    Brett Wyard(inset) and the co-op at 800 Park Avenue

    A former top executive at Carlyle Group was sued by two Park Avenue co-op owners for allegedly refusing to pay a $1.15 million deposit on an apartment and falsely claiming that the unit was in poor condition.

    Ex-Carlyle brass Brett Wyard agreed in June to buy an interest in a fifth-floor co-op at 800 Park Avenue for $11.5 million, Kim and Deborah Fennebresque, the plaintiffs who own the apartment, said in a lawsuit filed in New York Supreme Court. As part of the deal, Wyard had put a $1.15 million down payment in escrow, the plaintiffs said in the complaint. [more]

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  • From left: Extell's Gary Barnett, 40 Riverside Drive rendering and Carlyle's William Conway Jr.

    From left: Extell’s Gary Barnett, 40 Riverside Blvd. rendering and Carlyle’s William Conway Jr.

    Extell Development’s new 33-story building at 40 Riverside Boulevard will have two entrances: One for the condominium buyers, whose residences will face the Hudson River, and another for the tenants, who will live in affordable rental units, the West Side Rag reported. [more]

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  • ariel-2nd-q

    Deals for New York City multifamily homes rebounded in the second quarter, jumping 50 percent from the previous quarter, the most recent report from Ariel Property Advisors shows. [more]

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  • 650 Madison Avenue

    Major New York players such as Vornado Realty Trust, Ashkenazy Acquisition Corp. and Crown Acquisitions have moved to nab Carlyle Group’s 650 Madison Avenue office tower, with some bids coming in at north of $1.3 billion, the Wall Street Journal reported. [more]

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  • Renderings of 508 West 24th Street

    Design architect Cary Tamarkin’s newest West Chelsea project will be a 10-story building with 15 residential units and ground-floor retail space, Curbed reported.  [more]

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  • Extell’s Gary Barnett and the Rushmore

    After winning a high-profile fight against Extell Development and Carlyle Realty Partners, a group of 33 would-be buyers at the Rushmore condominium have filed a contempt motion alleging the developers flouted a 2012 court order to hand over $5 million in interest payments.

    The dispute focuses on the buyers’ attempt to have Extell and Carlyle refund a collective $16 million they put down on apartments at the Rushmore, at 80 Riverside Boulevard. [more]

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  • 650 Madison Avenue

    The Carlyle Group has put a Midtown office tower near the Sony Building on the market, in a move that could see the investment behemoth receive more than $1 billion from the sale, according to written reports seen by Crain’s. The 27-story tower is located at 650 Madison Avenue between East 59th and East 60th Streets and totals roughly 600,000 square feet, making it a shade smaller than the Sony Building, which was acquired by Joseph Chetrit’s Chetrit Group for $1.1 billion earlier this year. [more]

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  • 9 East 38th Street

    A joint venture between ClearRock Properties and Juster Properties has acquired two adjacent Midtown buildings from Yeshiva University for $29 million, according to a press release issued by the two development firms. ClearRock also bought a third building from Yeshiva for $58.5 million in partnership with the Carlyle Group. The deals were confirmed in February by Massey Knakal Realty Services, which represented the seller, but the buyers were not revealed.

    The partners purchased 9 East 38th Street, a 93,700-square-foot, 12-story office building, and 14 East 39th Street, a 7,400-square-foot commercial townhouse with 22,200 square feet of air rights. Both properties are located between Madison and Fifth Avenues, within the confines of the city’s upzoning proposal for Midtown East.
    [more]

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  • Gary Barnett, 1780 Broadway, the site of the new tower, and a rendering of Building 2

    Yesterday, Extell head Gary Barnett and partner the Carlyle Group sold the Building 2 site at the Riverside Center development for $70 million, as Extell begins raising capital for its new 57th Street tower — currently poised to become the tallest residential building in the U.S., the New York Post reported. The buyers of the complicated $420 million development were Dermot and AFL-CIO Building Investment Trust. The project calls for 616 residential rentals, retail space and a school and has a $275 million state Housing Finance Agency bond mortgage with credit enhancements through Bank of America and Capital One.  When the 640,000-square-foot Building 2, which is located at the southwest corner of West 61st Street, it will be known as 21 West End Ave. … [more]

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  • David Rubenstein

    David Rubenstein, co-founder of the Carlyle Group, one of the largest private equity firms in the world — and holder of more than $12 billion in real estate worldwide — told CNBC this morning about his philanthropic work with pandas, his humble childhood as the son of a postal worker and how he believes private equity creates jobs and has “revolutionized American business” (see video after the jump).

    On carried interest, or a “promote,” — a compensation structure that applies to investors in private equity funds and some investors in real estate — Rubenstein avoided endorsing a stance, saying instead that the concern should be on the deficit. Eliminating “carried interest isn’t going to solve the problem,” he said. … [more]

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  • Carlyle CEO William Conway, Blackstone CEO Stephen Schwarzman and Starwood CEO Barry Sternlicht

    Wealthy individuals are increasingly replacing institutional investors, scared off by memories of the real estate crash, as the source of capital for real estate funds, according to the Wall Street Journal. For example, about 40 percent of Starwood Capital’s latest $2 billion fund comes from individual investors, Carlyle Group sourced 10 percent of its recent $2.3 billion from rich people, Lone Star Capital relied upon individuals for about 20 percent of its $5.5 billion fund and even the Blackstone Group has increasingly turned to high-net worth people for a $13 billion fund it expects to raise. [more]

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