The Real Deal New York

Posts Tagged ‘invesco’

  • 230 Park Avenue (Helmsley Building) ($80 million)  Landlord: Invesco Real Estate, Monday Properties Tenant: ING Real Estate  Area: Midtown  Type: Renewal/expansion Square Feet: 144,000 Term: 11 years Rent: Low $50s Landlord Rep: Monday Properties (Jordan Berger) and Jones Lang Lasalle (Frank Doyle) Tenant Rep: Newmark Grubb Knight Frank (Moshe Sukenik, Neil Goldmacher) and Cassidy Turley (Steve Ernst)

    230 Park Avenue

    UPDATED, 4:05 p.m., June 11: Venture capital firm Apple Tree Life Sciences has signed on for 14,169 square feet at 230 Park Avenue for the coming ten years. [more]

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  • Walentas-117-Adams-Kushner-Asher

    From left: David Walentas, 117 Adams Street (Photo: ProperyShark), Jared Kushner and Asher Abehsera

    Asher Abehsera, a 30-year-old California native, was in the parking lot of Two Trees Management’s Dumbo headquarters when he made the call that would lead to Brooklyn’s biggest deal so far this year — the $375 million acquisition by Kushner Companies, RFR Realty and Invesco Real Estate of a package of buildings owned by the Jehovah’s Witnesses. [more]

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  • 230 Park Avenue

    230 Park Avenue

    A charitable trust named in part after the late Leona Helmsley is moving into a building once owned by and named after the woman, the New York Observer reported.

    The Leona M. and Harry B. Helmsley Charitable Trust has signed a lease for 5,400 square feet at 230 Park Avenue, formerly known as the Helmsley Building. The trust will occupy a space on the fifth floor of the 35-story, 1.4 million-square-foot building at East 45th Street. The space will serve as the charitable organization’s New York office. The trust also has an office in Sioux Falls, South Dakota. [more]

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  • The Helmsey Building at 230 Park Avenue and Invesco's Martin Flanagan (inset)

    The Helmsey Building at 230 Park Avenue and Invesco’s Martin Flanagan (inset)

    Reed Elsevier, the London and Amsterdam-based publisher of LexisNexis, is on the verge of signing a 71,083-square-foot lease at Invesco’s Helmsley Building in the Grand Central submarket, The Real Deal has learned from CompStak, but a source familiar with the discussions insisted that no deal had yet been finalized. [more]

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  • From left: Anchor Associates' Kelly Neptune, Justyna Czekaj of Spire Group, Aleksandra Milanova of Spire and Natalia Stoyanova of Spire Group (credit: Andrea Meggiato)

    From left: Anchor Associates’ Kelly Neptune, Justyna Czekaj of the Spire Group, Aleksandra Milanova of Spire and Natalia Stoyanova of Spire (credit: Andrea Meggiato)

    Agents from across the city hobnobbed with executives from the Dallas-based Invesco over strawberry sangria last night as they scoped out the final units left to be leased at the Strata at Mercedes House rental development in Hell’s Kitchen. [more]

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  • Mercedes House

    Mercedes House

    The first two phases of Two Trees Management’s zigzag-shaped Mercedes House development are now fully leased, a spokesperson for Two Trees told The Real Deal, representing some 700 units. [more]

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  • 100-104 Fifth Avenue and Clarion CEP Stephen Furnary

    From left: 100-104 Fifth Avenue and Clarion CEO Stephen Furnary

    Clarion Partners, a real estate investment manager, has agreed to buy the 270,000-square-foot 100-104 Fifth Avenue in Midtown South for $225 million, Bloomberg News reported. Kaufman Organization and Invesco are the property’s sellers. They bought the 17-story building, between 15th and 16th streets, in 2010 for $93.5 million.

    The deal, which is valued at over $800 per square foot, shows how much buyers will shell out to acquire office space in the tech-heavy neighborhood, Bloomberg said. [more]

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  • Hoboken’s Juliana rental sells for $67M

    February 12, 2013 02:30PM

    From left: Andrew Scandalios, Jose Cruz and the Juliana

    The 128-unit Hoboken, N.J. multifamily property known as the Juliana has traded hands for $67 million, according to a release issued by HFF, which represented the seller. Boston-based investment firm AEW Capital Management purchased the development from the Milestone Group and Dallas-based Invesco, on behalf of one of the firm’s funds, known as AEW Core Property Trust. [more]

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  • Invesco’s NYC spree

    February 05, 2013 10:00AM

    Greg Kraus

    From the February issue: Institutional investors have long coveted New York real estate, but as with most aspects of life in the city, the rules here are different. Prices are generally higher and deals move quickly, making it difficult for newcomers to break into the market. But some outside real estate firms have cracked the code. Just ask Invesco Real Estate. Two years ago, the Dallas-based investment firm had effectively no presence in New York City. Since then, however, Invesco has been involved in a dozen deals here worth about $2 billion. And it is planning to transact deals worth up to $1.5 billion this year. [more]

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  • From left: Haim Chera and 1466 Broadway

    Walton Street Capital sold to Invesco its majority stake in the 50,000-square-foot retail condominium at 1466 Broadway in Times Square for upwards of $100 million, Crain’s reported. As a result of the deal, Invesco will now be among the three owners of the space, which is valued at $200 million. Crown Acquisitions and Highgate Holdings are the space’s other stakeholders. Adam Spies and Doug Harmon helped arrange the deal. [more]

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  • Brill Building set to hit market: sources

    November 15, 2012 10:30AM

    Stonehenge’s Ofer Yardeni and the Brill Building

    Dallas-based real estate giant Invesco is preparing to bring an historic Times Square office building to market, The Real Deal has learned.

    The international investment management firm’s real estate arm will likely put the property known as the Brill Building, at 1619 Broadway, on the market early next year, sources said. The 11-story building, on the corner of West 49th Street, totals 177,000 square feet and is best known for its musical history; the building served as the Tin Pan Alley home of famed music publishers, record companies, artists and artists’ managers for decades beginning in the 1930s. It became known as a hit factory, producing songs by artists such as Paul Simon. [more]

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  • From left: 111 Kent Avenue, 75 Clinton Street and 175 Kent Avenue

    Investors have been scooping up rental buildings in Brooklyn at record prices, but the trend could be reaching its inflection point, according to the New York Times. The strict lending standards are continuing to force many would-be buyers into the rental market and rents are ticking ever higher as a result. Rents in Brooklyn increased 10 percent in 2010, 7 percent last year and are expected to rise another 5 percent to 10 percent over the next 18 months, according to TerraCRG. [more]

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  • 75 Clinton Street in Brooklyn (credit: Brownstoner)

    The apartment building at 75 Clinton Street, in Brooklyn Heights, between Montague and Remsen streets, was bought for $50.8 million, Brownstoner reported.

    The purchase, by Dallas-based Invesco and first reported by Crain’s in January, just hit public records. Invesco has opted turn the 74-unit condominium building into rentals, which will go for between $2,800 and $7,000 a month, as previously reported. And they are making the transition swiftly; the rentals should come to market this month.  [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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  • From left: 230 Park Avenue and Steven Soutendijk, senior director at Cushman & Wakefield

    A large ground-floor and mezzanine retail space at 230 Park Avenue, the building just to the north of Grand Central Terminal, is available for rent.

    The prime 10,000 square feet of real estate is now being marketed as restaurant space, the marketing materials for the space from Monday Properties, the building operator, said. Previously, the southwest corner of the massive tower was the Jean-Claude Biguine salon, which closed in September. That space has now been combined with three others, which had been a Sushi Express, a Fedex and a Scottrade, to create the resultant block of 10,000 available square feet, according to the marketing materials. While Monday Properties intended to combine the spaces, the tenants “agreeably vacated,” and weren’t kicked out, a source said. [more]

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  • alternate<br /></a>text
    Clockwise from top left: ANM Group President Moses Gross, 100 Luquer Street and David Behin, principal of MNS
    ANM Group has pulled its Carroll Gardens condominium from the sales market in hopes of selling it to an investor seeking to capitalize on Brooklyn’s booming rental market, according to the Wall Street Journal.

    The Karl Fischer-designed 11-story, 20-unit building took years to build thanks to financial difficulty and community opposition that ultimately forced a reduction in height. The homes finally hit the market with MNS brokerage in October, with asking prices starting at $599,000. This week the listings were pulled. … [more]

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  • Atlanta-based investment fund Invesco has put the office tower at 33 Maiden Lane on the sales market, Crain’s reported, but thanks to a unique tenant the building’s sales price will likely be compromised.

    Three-fourths of the 625,000-square-foot tower is leased by the ultra-credit-worthy Federal Reserve Bank of New York. But the bank rented the space in 1986 in an agreement that runs through 2023, guaranteeing it will be paying below market rate for another dozen years.
    [more]

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  • Bank of America is getting slapped with another lawsuit by Dallas County, that if successful could be a harbinger for many similar suits to come, Bloomberg News reported. Meanwhile, according to Reuters, the bank — the largest in America — is selling off $880 million of U.S. real estate assets to a group of investors comprised of Square Mile Capital Management, Invesco and Canyon Capital Realty Advisors.

    The lawsuit names BofA and MERS, an electronic system for processing mortgages that acts as the lender’s nominee and becomes the mortgagee, provided that the loan was originated by one of the financial institutions that owns MERS. Those include Citigroup, JPMorgan Chase, the Mortgage Bankers Association, American Land Title Association, Freddie Mac and Fannie Mae. … [more]

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  • Apple ups space at 100-104 Fifth Avenue

    August 17, 2011 08:46AM

    Having secured its long-anticipated lease at Grand Central Terminal, tech retailer Apple has been busy picking up leases for more office space in the city.

    According to the New York Post, Apple has inked a 45,000-square-foot deal at the Kaufman Organizations’s 100-104 Fifth Avenue in the Flatiron District to accommodate its iAd mobile advertising division.

    Apple moved into the space on a short-term lease for only 10,000 square feet in January, but always planned to extend it for a longer time, as the division’s head count grows from 20 to 60.

    Apple also signed leases for the 14th floor, which includes 16,079 square feet, and a large part of the 15th floor, the Post said. The asking rent was $55 a square foot. … [more]

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  • Monday Properties has completed a $750 million recapitalization of the former Helmsley Building at 230 Park Avenue through Invesco, the company announced today. Monday Properties has managed the property since 1998, and in 2007 purchased the 34-story, 1.4 million-square-foot, landmarked office building for $1.15 billion, public records show. This transaction completes the repositioning of the building. It also marks the largest single-asset investment in Invesco’s $39.7 billion real estate investment portfolio. Invesco last appeared on the Manhattan real estate scene in April when it completed its $125 million purchase of the 166-unit apartment building at 290 Third Avenue. TRD[more]

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