The Real Deal New York

Posts Tagged ‘fisher brothers’

  • From left: Former parking garage at 111 Washington Street, current lot and Bob Knakal

    From left: Former parking garage at 111 Washington Street, the site now and Bob Knakal

    A pair of developers who picked up a distressed lot in the Financial District a few years back for a cool $57.5 million is now asking five times that amount for the property. [more]

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    Sonny Bazbaz and 101 West 87th Street

    WEEKENDEDITION Not every developer is aiming for a record setting price per square foot or the tallest residential buildings. Some trend-bucking developers are focusing on building moderately priced Manhattan apartments, without skimping on the amenities. [more]

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  • Renderings of 22 Thames Street

    Renderings of 22 Thames Street

    The new Rafael Vinoly-designed 22 Thames may overtake Silverstein Properties’ Four Seasons Hotel & Residences at 30 Park Place as the tallest residential building in Lower Manhattan. [more]

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  • From left: Arnold Fisher, 1345 Avenue of the Americas and Scott Bogetti

    From left: Arnold Fisher, 1345 Avenue of the Americas and Scott Bogetti

    Shared office space provider Virgo Business Centers has taken 40,791 square feet at Fisher Brothers’ 1345 Avenue of the Americas, Virgo CEO Sarah Klein told The Real Deal. The sublease at the 50-story, 2.19 million-square-foot tower gives Virgo its sixth Manhattan location. [more]

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  • From left: Arnold Fisher, 605 Third Avenue and Univision CEO Randy Falco

    From left: Arnold Fisher, 605 Third Avenue and Univision CEO Randy Falco

    Spanish-language media giant Univision has expanded its presence at the Fisher Brothers’ 605 Third Avenue office tower to just under 195,000 square feet, a spokesperson for the landlord told The Real Deal. [more]

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  • From left: Fisher Brothers' Arnold Fisher and 86 Trinity Place

    From left: Fisher Brothers’ Arnold Fisher and 86 Trinity Place

    Fisher Brothers and Friedman Management were the remaining two developers subpoenaed as part of a state task force’s probe of favorable tax breaks received by some of the city’s biggest real estate players, sources told Crain’s.

    The companies join several other firms subpoenaed today to see whether there is a link between their campaign donations and tax breaks they received under the 421-A abatement program for new residential developments, as previously reported. [more]

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  • Rafael Viñoly (Photo courtesy of Archpaper)

    Rafael Viñoly (Photo courtesy of Archpaper)

    Starchitect Rafael Vinoly, most recently of 432 Park Avenue fame, has been tapped to design the Fisher Brothers’ project at the former American Stock Exchange buildings in Tribeca, according to a community board agenda seen by the Tribeca Citizen.

    In September, Fisher Brothers purchased the buildings – located at 22 Thames Street and neighboring 86 Trinity Place — from investors Michael Steinhardt and Allan Fried for $150 million, as The Real Deal reported. [more]

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  • From left: 605 Third Avenue, Adam Spies and 1345 Avenue of the Americas

    From left: 605 Third Avenue, Adam Spies and 1345 Avenue of the Americas

    Real estate private equity firm Rockpoint Group is in a hard contract to take a 49.5 percent stake in two Fisher Brothers’ office towers in Midtown for $550 million, the New York Post reported. [more]

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  • From left: 299 Park Avenue, Capital One's Richard Fairbank

    From left: 299 Park Avenue and Richard Fairbank of Capital One

    Capital One is in talks with UBS to take about 250,000 square feet of office space at the latter’s Park Avenue building, Bloomberg News reported, citing sources with knowledge of the negotiations.

    The Zurich-based UBS had listed 382,000 square feet for sublease at 299 Park Avenue, a 1.2 million-square-foot skyscraper between East 48th and 49th streets, and Capital One is expected to take a large chunk. [more]

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  • From left: Steve Witkoff, Winston Fisher and 101 Murray Street

    St. John’s University today announced an agreement to sell its satellite Tribeca building at 101 Murray Street to a joint venture of Fisher Brothers, Howard Lorber and Witkoff Group, which plan to raze the building to construct condominiums, Crain’s reported. [more]

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  • Renderings of 22 Thames (courtesy Selldorf Architects)

    A mixed-use tower at 22 Thames Street in Lower Manhattan will include 428 residential units, five floors dedicated to retail and “residential recreational space,” and two floors of performing arts studios, according to plans from designer Selldorf Architects, spotted by Curbed. [more]

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  • Beekman Tower Hotel trades for $85M

    December 13, 2012 03:00PM

    From left: Doug Harmon, the Beekman Tower Hotel and Larry Silverstein

    A Silverstein Properties, Fisher Brothers and Capstone Equities partnership has closed on the Beekman Tower Hotel for roughly $85 million, Crain’s reported. Silverstein Properties will manage the operation of the building. The property contains 170 rooms and will be converted into extended-stay corporate housing suites.  [more]

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  • Arnold Fisher, senior brothers of Fisher Brothers, 1345 Sixth Avenue and the fountains outside the building

    The Fisher Brothers is planning on adding an underground retail component to a trophy Sixth Avenue office property, the New York Observer reported, and has tapped Cushman & Wakefield to market the space. The landlord’s vision for 1345 Sixth Avenue mimics Harry Macklowe’s glass cube retail addition to the GM Building, which was leased by Apple and has become one of the city’s most lucrative retail locations. [more]

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    Candia Fisher

    Real estate billionaire Candia Fisher was defrauded out of more than half a million dollars, the New York Post reported.

    Candia Fisher, 64, sister to Richard Fisher, who is the father of Winston Fisher, partner at real estate company Fisher Brothers, is an avid email user. When a hacker gained access to her personal email account, he or she was easily able to pose as Fisher and convince a personal secretary of hers to wire $548,725 to banks in Australia. When another secretary of Fisher’s saw the large sums being transferred overseas and alerted the heiress, she said she knew nothing about them, the Post said…. [more]

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  • [Updated at 2:30 p.m.] When Boston-based real estate investment firm the Rockpoint Group announced that it had sold its stake of Park Avenue Plaza at 55 East 42nd Street earlier this month, the company declined to reveal how much it had received for the sale — but in New York City, secrets don’t stay secret for long.

    According to public records filed with the city yesterday, Rockpoint received a massive $569.1 million for its 49 percent share of the 1.2 million-square-foot plaza plus another building at 49 East 52nd Street. The company was represented by CBRE, according to data from Real Capital Analytics. The buyer, Soho China, provided a residential address at 1185 Park Avenue, the same building where JPMorgan CEO Jamie Dimon resides.

    Tenants at Park Avenue Plaza currently include BlackRock, McKinsey & Co. and Swiss Re., it was previously reported. Rockpoint bought into the building last year for around $330 million or $570 per square foot. — Katherine Clarke[more]

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    Andrew Joblon and Amanda Seyfried and the Trump National Golf Club

    A Fisher Brothers executive made the New York Daily News gossip pages today, for being romantically linked to “Mean Girls” actress Amanda Seyfried. Apparently, she and Andrew Joblon, vice president of the acquisition and development group, have been dating for the last month and were seen together at the Eric Trump Foundation’s Invitational & Gala at the Trump National Golf Club in Westchester Tuesday. … [more]

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    From left: Yair Levy, Rector Square (source: PropertyShark) and Attorney General Eric Schneiderman

    A state Supreme Court judge has ordered developer Yair Levy to pay $7.4 million in restitution to the Rector Square condominium and permanently banned him from selling real estate in New York state.

    Judge Joan Lobis found last month that Levy defrauded the Battery Park City condo conversion, spending millions of dollars in reserve fund money on illegal personal and general business expenses, including charge card accounts, mobile phone bills and writing checks to family members.

    The judgment permanently bans Levy from selling condos or co-op projects in New York state, virtually ending a career lasting more than 30 years in the U.S…. [more]

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  • From left: Winston Fisher, a partner with Fisher Brothers, Park Columbus and Doug Harmon of Eastdil Secured

    A joint venture between Fisher Brothers, BlackRock and a California pension fund won the 95-unit Upper West Side apartment building Park Columbus with a bid of $48 million in a bankruptcy auction this morning.

    In March, embattled developer Yair Levy lost the building located at 101 West 87th Street that he had tried to convert to condominiums, in foreclosure to Garrison Residential Funding. The mortgage and other debts totaling $52.6 million will be wiped out once the closing occurs, court records show.
    Fisher Brothers, a major Midtown-based commercial and residential property owner, partnered with investment firm BlackRock and California State Teachers Retirement System, to place the minimum bid in November. Winston Fisher, a partner with Fisher Brothers, declined to comment…. [more]

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  • Chart clarification: While CBRE data puts Durst’s portfolio at 7.2 million square feet, a Durst spokesperson later said that figure is actually 9 million.

    Asking rents plunged for some of Midtown’s top landlords last year as they competed for the few tenants searching for space in a weak leasing market, but their reductions helped keep their vacancy rates below the market average, experts said. The family-owned Durst Organization dropped its asking rents to $60.82 per square foot in November 2009 from $113.15 per square foot in August 2008, near the pricing peak of the leasing market, according to the most recent data available on Midtown’s top 10 landlords from commercial services firm CB Richard Ellis. The Real Deal compared data from August 2008 to November 2009 for the top 10 landlords in Midtown ranked by square feet owned. The 46 percent decline was the steepest among Midtown’s top 10 landlords, who control 93 million square feet, or about 41 percent of the market. Landlord and tenant leasing broker Cynthia Wasserberger, a managing director at commercial firm Jones Lang LaSalle said the landlords cut prices to attract tenants and keep their buildings filled. “I think all the landlords got aggressive. They were pretty swift in their decision to respond to the market,” Wasserberger said…. [more]

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  • While several of the city’s top brokers said the leasing market is approaching a floor for the current down cycle, potential office building buyers are preparing for years of further rent declines, real estate experts said at a forum this morning. “This is a unique city. It is at the bottom or close to [it],” Bruce Mosler, president and CEO of Cushman & Wakefield, said of office leasing in Manhattan. He was on a panel organized by business publisher Bisnow at Cooper Union. But just half an hour earlier at the same event, Michael Fascitelli, president and CEO of landlord Vornado Realty Trust, said potential buyers of office buildings were not predicting rents to increase for several years. He said that expected annual rent increases during the boom years, which were as high as 15 percent, are now at zero. And they could remain at zero for years. He added that to buy a building, a purchaser has to forecast a rent increase at some future time…. [more]

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