The Real Deal New York

Posts Tagged ‘darcy stacom’

  • wimbledon_stacom

    Darcy Stacom and 200 East 82nd Street

    JPMorgan is looking to sell a recently renovated, 223-unit Upper East Side rental tower that industry experts say could fetch north of $200 million.

    The bank’s investment management arm is searching for a buyer for the Wimbledon, the 28-story apartment building at 200 East 82nd Street it purchased back in 2008 for $150.35 million. Darcy Stacom and Paul Liebowitz at commercial brokerage CBRE have the listing. A spokesperson for the brokerage declined to comment. [more]

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  • stacom

    Zhang Yuliang and Darcy Stacom

    The level of international investment in New York City commercial properties could be at its all-time peak right now, according to Darcy Stacom of commercial brokerage CBRE Group in an interview.

    Although offshore investments has never been well tracked, Stacom said, they comprise between 60 and 70 percent of the capital dollars spent on the city’s real estate. Chinese investors, for example, have been browsing the market for three years. See the video and more after the jump.

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  • Cushman’s Matthew Stacom dies at 95

    January 28, 2014 10:50AM
    Matthew Stacom

    Matthew Stacom

    Matthew Stacom, a longtime top broker at Cushman & Wakefield and father to reigning real estate queens Darcy and Tara Stacom, died over the weekend. He was 95.

    “His leadership at the firm and the legacy he has passed on embodies Cushman & Wakefield’s core values of being ethical, working hard, putting the client first and maintaining an entrepreneurial spirit,” a spokesperson for Cushman said in a statement to GlobeSt. “The Stacom name has become synonymous with iconic real estate and we know his legacy will continue through the great work of his family.” [more]

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  • From left: CBRE's William Shanahan, 440 Ninth Avenue and CBRE's Darcy Stacom

    From left: CBRE’s William Shanahan, 440 Ninth Avenue and CBRE’s Darcy Stacom

    Japanese real estate investment firm Jowa Holdings has broken into the Manhattan market with its first buy — a $210 million acquisition of a 400,000-square-foot Midtown West building. [more]

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  • From left: David Picket, New Gotham at 520 West 43rd Street and Darcy Stacom

    From left: David Picket, New Gotham at 520 West 43rd Street and Darcy Stacom

    AEW Capital Management has paid about $170 million for New Gotham, a Hell’s Kitchen rental building developed by the Gotham Organization. The 34-story building at 520 West 43rd Street was built in 1998 and has 375 units. [more]

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  • From left: Blackstone's Steven Schwarzman, 717 Fifth Avenue and Jeff Sutton

    From left: Blackstone’s Steven Schwarzman, 717 Fifth Avenue and Jeff Sutton

    The Blackstone Group has put a 26-story Fifth Avenue tower on the market. The plan to sell 717 Fifth Avenue had been in the works for several months, but the private equity giant had to wait to officially begin marketing the property until retail real estate tycoon Jeff Sutton — who owns the retail condominiums in the building – passed on his right of first offer. [more]

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  • From left: CBRE's William Shanahan, 440 Ninth Avenue and CBRE's Darcy Stacom

    From left: CBRE’s William Shanahan, 440 Ninth Avenue and CBRE’s Darcy Stacom

    Sherwood Equities is following the sale of a vacant block west of Penn Station with the introduction of a second West Side property to the market. [more]

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  • Darcy Stacom and a rendering of Hudson Yards

    Darcy Stacom and a rendering of Hudson Yards

    A Hudson Yards site that would allow a commercial tower of up to 881,000 square feet has hit the market, the New York Post reported. CBRE’s Darcy Stacom and Paul Liebowitz are marketing the L-shaped site, located on a full block front along the Hudson Yards Park and stretching east from 11th Avenue and West 36th Street up to 37th Street.  [more]

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  • GM Building stake sells for $1.4B

    June 03, 2013 10:00AM
    From left: Darcy Stacom, William Shanahan and the GM Building

    From left: Darcy Stacom, William Shanahan and the GM Building

    The families of Chinese real estate developer Zhang Xin and Brazilian banking magnate Moise Safra paid $1.4 billion for a 40 percent stake in the General Motors building, the Wall Street Journal reported. This values the building at 767 Fifth Avenue at roughly $3.4 billion, making it the country’s most valuable office property. [more]

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  • From left: Marc Holliday, Larry Silverstein, Darcy Stacom, James Kuhn (President at Newmark  Grubb Knight Frank), Rosemary Scanlon (Dean at NYU Schack), William Rudin, William Mack, Robert Blumenthal (moderator) at the NYU conference today [photo credit: New York University/ Elena Olivo]

    Hurricane Sandy may have had an immediate effect on New York City’s commercial real estate, but President Barack Obama’s second term and local and state tax policy will have much longer lasting impacts on the industry, real estate veterans said today at the NYU Schack Institute of Real Estate’s Capital Markets Conference.

    After Sandy, office stock in the city did not fare that badly, said SL Green CEO Marc Holliday, noting that of the 28 million square feet of space the real estate investment trust controls, only one building was damaged badly enough to warrant significant repairs. [more]

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  • 120 West 45th Street (credit: PropertyShark), SL Green CEO Marc Holliday (top) and CBRE’s Darcy Stacom (bottom)

    For a change, acquisition-happy SL Green Realty is looking to unload an asset. The city’s largest landlord has tapped CBRE Group too sell its 575,000-square-foot building at 120 West 45th Street, known as Tower 45, for a price of $270 million or more.

    “You have a core-plus building with some vacancy and roll, so there is a real play here with upside and value,” Darcy Stacom, vice chairman of CBRE who is marketing the building with Bill Shanahan and Paul Gillen, told the Post. “This should be right in the sweet spot for investors.” [more]

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  • Aby Rosen and 285 Madison Avenue (credit; PropertyShark)

    Aby Rosen’s RFR Realty is buying a much-maligned Midtown office building with an eye on converting it into hotel rooms. The firm has entered contract to purchase 285 Madison Avenue for $190 million, according to Crain’s, just more than a month after reports emerged that Rosen is considering acquiring 350 Madison Avenue for $350 million.

    The 550,000-square-foot building at 285 Madison Avenue, between East 40th and East 41st streets, is owned by ad agency Y&R and was the site of a well-documented elevator accident last year that resulted in the death of one of its employees. The agency put the building on the market with CBRE Group’s Darcy Stacom and Bill Shanahan in July in advance of its planned move to an office condominium at 3 Columbus Circle, owned by SL Green Realty and Joseph Moinian. [more]

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  • Top five commercial sales of the month

    September 10, 2012 06:15PM
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    Click the chart to see the complete top five deals

    The most expensive commercial transaction in New York City recorded last month was the purchase of the ground under the Sports Illustrated Building, at 135 West 50th Street, by a UBS Realty Investors affiliate for $279 million. The seller was 14 E. 60th St. Associates, a partnership. CBRE Group’s Darcy Stacom and William Shanahan represented the sellers. Brad Siderow of the Siderow Organization represented UBS’ client. (See the complete top five deals after the jump.) … [more]

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  • Sapir CEO Alex Sapir (top), CBRE’s Darcy Stacom (bottom) and 11 Madison Park

    The 2.3 million-square-foot office tower at 11 Madison Park is set to hit the market seeking a sales price of $1.5 billion, the Wall Street Journal reported. CIM Group and the Sapir Organization have tapped a CBRE Group team led by the firm’s vice chairwoman, Darcy Stacom.

    Sapir bought the building in 2003 for $675 million; in 2010 CIM Group purchased a 49 percent stake in the property for $469 million. The building is about 80 percent occupied by Credit Suisse, which pays a below-market rental rate of $19 per square-foot. That lease expires in 2017. [more]

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  • From left: Matthew Baron, principal of Simon Development, and 393 West End Avenue

    An Upper West Side rental building that sold for $55.6 million in March of this year has traded hands yet again — this time for $68.3 million. Despite the nearly $13 million price hike, Simon Development Group, the latest buyer, is convinced it got a bargain on the 113-unit prewar building.

    Matthew Baron, principal at Simon, confirmed that the developer purchased 393 West End Avenue, situated at the corner of West 79th Street. He said that the company is convinced that it can make money on the transaction by making significant upgrades to the property. He noted that improving market conditions contributed to the swift increase in valuation, but that he “saw an asset that — even at the number we paid — is still a very undervalued one,” given the location. [more]

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  • Darcy Stacom (top), Edward Imperatore (bottom) and the development site

    The owners of a large development site across the street from the Jacob K. Javits Center have hired CBRE Group Vice Chairman Darcy Stacom to explore a possible sale, Crain’s reported.

    The L-shaped lot is owned by the Imperatore family and fronts 11th Avenue and spans the entire block between West 36th and West 37th streets. Crain’s said a development of 800,000- to 1 million square feet could be built on the site. [more]

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  • CBRE's Darcy Stacom (top), William Shanahan (bottom) and 285 Madison Avenue (building credit: PropertyShark)

    Young & Rubicam has put the Madison Avenue tower where an elevator malfunction killed an employee on the market, the New York Post reported. The move was expected for months, as the advertising firm prepares to move into Joseph Moinian’s 3 Columbus Circle over the next 18 months. At the time of last December’s tragedy, insiders speculated that the incident would be an obstacle to the sales effort of the building.

    Another obstacle in the effort to sell the 285 Madison Avenue, for which Young & Rubicam tapped Darcy Stacom and William Shanahan of CBRE Group, is that the 550,000-square-foot tower, between East 40th and East 41st streets, will be essentially vacant. [more]

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  • Clockwise from top left: Tara Stacom, Darcy Stacom, Michael Laginestra and Rocco Laginestra

    A long-established facet of real estate development, nepotism is becoming an increasingly large factor in the commercial brokerage industry, the Wall Street Journal reported, as big-name brokers pass business off to their children and relatives. They’re creating “dynasties” by offering experienced advice, contacts and even entry-level jobs to their descendants.

    Take the Stacoms, for example. Darcy and Tara, vice chairmen at CBRE and Cushman & Wakefield, respectively, are the daughters of Matthew Stacom, who the Journal said was instrumental in the leasing of Chicago’s Sears Tower, now the Willis Tower. As previously reported, Darcy last week helped close two small Midtown office buildings. [more]

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  • Forest City Ratner's Bruce Ratner, Darcy Stacom of CBRE Group and 8 Spruce Street (building credit: Gehry Partners)

    Forest City Ratner is looking to cash in on the city’s record-strong residential rental market by selling a stake in Manhattan’s tallest rental building. The Wall Street Journal reported that the developer has commissioned Darcy Stacom, vice chairman of the CBRE Group, to find an investor to take as much as a 49 percent stake in 8 Spruce Street.

    The 76-story, 903-unit Frank Gehry-designed building launched last February under the auspices of Citi Habitats and is now 80 percent occupied. Asking rents for the remaining units start at $3,750 per month for one-bedroom apartments and $6,720 per month for two-bedrooms. [more]

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  • Fed buys its downtown office for $207.5M

    February 29, 2012 09:00AM

    From left: CBRE vice chairmen Darcy Stacom (top) and Bill Shanahan, 33 Maiden Lane and Federal Reserve Bank of New York Chairman Lee Bollinger

    The Federal Reserve Bank of New York exercised its right to buy the downtown office building it occupies for $207.5 million, according to CBRE Group, which marketed the building. The 27-stoy 600,000-square-foot property at 33 Maiden Lane, between Nassau and William streets, was put on the market by Atlanta-based Invesco and Hannover Leasing in October.

    While the Fed’s occupancy of three-quarters of the building lent it stability, the lease also mitigated the building’s upside, according to published reports, because it was signed in 1986 and guarantees a below-market rate through 2023. [more]

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