The Real Deal New York

Posts Tagged ‘Cushman & Wakefield’

  • (credit: Cushman & Wakefield and CoStar Group)

    (credit: Cushman & Wakefield and CoStar Group)

    Manhattan came out ahead of the rest of the country in the retail investment market last year with a total transaction volume of $6.5 billion, according to a new report by Cushman & Wakefield. [more]

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  • Peter Hennessy Ron Lo Russo Brett White

    From left: Peter Hennessy, Ron Lo Russo and Brett White

    Ron Lo Russo, the president of Cushman & Wakefield’s New York tri-state region, will remain the head of the office following DTZ’s $2 billion acquisition of Cushman, sources told The Real Deal. The image of continuity presented by leaving Lo Russo in charge masks the uncertainty that a deal of such magnitude creates for local brokers and employees, insiders said. [more]

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  • Amtrak derailment in Philadelphia (inset: Laura Finamore)

    Amtrak derailment in Philadelphia (inset: Laura Finamore)

    A New York City-based Cushman & Wakefield executive was identified as one of the eight killed in the Amtrak train derailment in Philadelphia on Tuesday. [more]

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  • 562 Fifth Avenue

    Marc Holliday (Credit: Steve Friedman) and 562 Fifth Avenue

    SL Green Realty has placed its retail development site at 562 Fifth Avenue in Midtown on the market.

    The real estate investment trust has tasked Cushman & Wakefield with marketing the property, located at the corner of West 46th Street. The site currently houses a 13-story, 42,364-square-foot office and retail building. [more]

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  • Cushman & Wakefield

    From left: Brett White, Tod Lickerman and Edward Forst

    Ratings agency Moody’s has revised its outlook on DTZ to negative from stable in wake of the commercial real estate firm’s acquisition of Cushman & Wakefield.

    While Moody’s affirmed DTZ’s ratings, the revised outlook “reflects the potential for increased financial leverage, as well as integration risks associated” with the Chicago firm’s $2 billion merger with New York-based Cushman & Wakefield, it said Tuesday. [more]

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  • From left: Brett White and Tod Lickerman

    From left: Brett White and Tod Lickerman

    Commercial real estate services firm DTZ is buying Cushman & Wakefield for $2 billion.

    Combined, the firm will have more than $5 billion in annual revenue, the Wall Street Journal reported. The combined firm will keep the Cushman & Wakefield name and will have more than 250 offices in 50 different countries. [more]

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  • Harlem development

    From left: Seth Pinsky, rendering of 426-458 West 126th Street in Harlem and Robert Shapiro

    Emerging markets like Northern Manhattan are offering real estate investors “huge potential for growth,” though such growth is dependent on continued investments in transportation and infrastructure, market players said at a Midtown panel discussion Thursday. [more]

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  • Foot Locker

    112 West 34th Street and Anthony Malkin

    Empire State Realty Trust signed Foot Locker to a 34,200-square-foot lease to retain the apparel retailer’s flagship location at 112 West 34th Street in Midtown, the real estate investment trust announced Wednesday. [more]

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  • Meridian-Capital-RE

    From left: Ralph Herzka, Bob Knakal, J.D. Parker and Stephen Shapiro

    Eat. Sleep. Close. Repeat.

    Meridian Capital Group’s mantra, apt for what sources say is one of the most intense companies a broker can work in, has served it well in the mortgage business. But could Meridian bring the same pizzazz to the investment sales space? [more]

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  • Renderings of 414 West 15th Street in the Meatpacking District (credit: CetraRuddy)

    Cushman & Wakefield buys Chicago commercial firm. Real Housewife Bethenny Frankel picks up $4.2 million Soho pad. A peek at Legacy Group’s Meatpacking District hotel project. Read these stories and more after the jump.

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  • Walgreens 520 Atlantic

    From left: 520-528 Atlantic Avenue in Boerum Hill, Stephen Palmese and Beyer Blinder Belle’s Carlos Cardoso

    Developer Jeffrey Gershon and partner AEW Capital Management are planning a $90 million condominium project on the site of a former Walgreens in Boerum Hill, The Real Deal has learned. [more]

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  • DTZ looks to bid $2B for Cushman

    April 20, 2015 05:40PM
    From left: Brett White, an old Cushman & Wakefield office in New York and Cushman’s Edward Forst

    From left: Brett White, an old Cushman & Wakefield office in New York and Cushman’s Edward Forst

    DTZ Group, London-based commercial real estate brokerage, is seeking support for a $2 billion bid to acquire rival firm Cushman & Wakefield. [more]

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  • 590 Madison Avenue

    590 Madison Avenue in Midtown

    The pension fund that owns 590 Madison Avenue – the Plaza District office tower that house financial services firms UBS, Morgan Stanley and Bain Capital – is seeking a loan valued at up to $650 million.

    The State Teachers Retirement System of Ohio has retained a Cushman & Wakefield team of Steve Kohn, Alex Hernandez, Chris Moyer and Alex Lapidus to source the funds, which could be one of the largest loans to close this year. The pension fund put a stake in the 42-story tower on the market last October, when the building was valued at $1.5 billion. [more]

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  • Madison Capital Scholastic

    From left: 549-555 and 557-559 Broadway in Soho, Helen Hwang and Richard Wagman (credit: Bisnow)

    Madison Capital won a bid to acquire a retail space spanning at least 32,000 square feet at the base of Scholastic’s corporate headquarters at 549-555 and 557-559 Broadway in Soho for $400 million, The Real Deal has learned. [more]

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  • Manhattan West

    Renderings of 1 Manhattan West

    Brookfield Property Partners signed law firm Skadden, Arps, Slate, Meagher & Flom to a 20-year lease for 550,000 square feet at Brookfield’s 1 Manhattan West, allowing the real estate investment trust to kick off construction on the 2.1 million-square-foot office tower.

    The law firm will take the 28th to 43rd floors of the tower, one of two planned commercial buildings at Brookfield’s 7 million-square-foot Manhattan West project, Brookfield announced today. [more]

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  • Bob Knakal and 3 Bryant Park at 1095 Sixth Avenue

    Bob Knakal and 3 Bryant Park at 1095 Sixth Avenue

    Investment sales transactions in New York City hit a record $20.8 billion in the first quarter of 2015, Cushman & Wakefield said in its quarterly capital markets overview Tuesday. [more]

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  • Jeff Greene

    Jeff Greene and a rendering of 62 Wooster Street

    South Florida billionaire Jeff Greene is asking $125 million for a seven-unit Soho building he bought for $26.3 million four years ago.

    Greene purchased the property at 62 Wooster Street in 2011, subsequently converting the commercial building into seven high-end condos and two retail spaces. [more]

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  • From left: Aby Rosen, 85 Fifth Avenue and Jeff Sutton

    From left: Aby Rosen, 85 Fifth Avenue and Jeff Sutton

    Aby Rosen’s RFR Realty has closed on the sale of an $86 million retail space on lower Fifth Avenue to Jeff Sutton’s Wharton Properties. [more]

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  • Markit NYC Office

    From left: Rendering of 450 West 33rd Street, Markit CEO Lance Uggla, Josh Kuriloff and Jeffrey Peck

    Markit, a London-based global financial data provider, is consolidating its New York City offices into a 140,000-square-foot space at Brookfield Property Partners’ 5 Manhattan West, The Real Deal has learned. [more]

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  • knakal-massey-FBox

    From left: Bob Knakal and Paul Massey

    Cushman & Wakefield’s acquisition of Massey Knakal Realty Services for a reported $100 million was the talk of the town at the end of last year. Now, nearly three months into the marriage, some of the consolidated firm’s leaders – Ron LoRusso, Bob Knakal and Paul Massey – discussed the changes at Cushman and the challenges of coming together. See the full video, complete with classic Powerpoint corporate graphics, after the jump.

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