The Real Deal New York

Posts Tagged ‘Morgan Stanley’

  • New Morgan Stanley RE fund raises $1.7B

    October 28, 2015 09:40AM
    John Klopp Morgan Stanley

    From left: John Klopp and the Morgan Stanley Building at 1585 Broadway in Midtown

    After a long, painful recovery from the last bust, Morgan Stanley is returning to real estate in style.

    The massive investment firm raised $1.7 billion for its first higher-risk real estate fund since 2007, with major commitments from the likes of CIC and Australia’s sovereign wealth fund.

    Since the financial crisis, the firm’s real estate operation has focused on buying “core” properties — fully leased buildings in premium locations. [more]

  • 144-150 West 34th Street in Herald Square (inset: Steven Roth)

    144-150 West 34th Street in Herald Square (inset: Steven Roth)

    Vornado Realty Trust received a $205 million acquisition loan from Morgan Stanley to help finance its purchase of the Old Navy building in Herald Square. [more]

  • 750 Seventh Avenue

    750 Seventh Avenue and Morgan Stanley’s James Gorman

    Morgan Stanley is on the verge of renewing its more than 400,000-square-foot lease at FosterLane Management’s 750 Seventh Avenue office building in Midtown.

    The financial services firm is expected to finalize the renewal soon, with asking rents at the 36-story tower reportedly in the $80s per square foot. [more]

  • Owners of residential towers and Downtown office buildings are seeing great benefits from the real estate rebound, but those who own suburban office buildings are still struggling to cope with low prices, according to a Morgan Stanley analysis of commercial real estate prices. [more]

  • Morgan Stanley Headquarters in Times Square

    Morgan Stanley Headquarters

    Morgan Stanley will pay $275 million to resolve the Security and Exchange Commission’s claim that the firm misled its investors in the sale of more than $2.5 billion in bonds backed by home loans.

    The settlement comes after the U.S. regulator found that the firm misrepresented the delinquency status of subprime loans that backed the securities. [more]

  • 10 Madison Square West

    10 Madison Square West

    The Witkoff Group and Morgan Stanley Real Estate Investing have sold a 20,676-square-foot retail condominium at 10 Madison Square West to private equity and asset management firm Savanna for $60 million.

    The sale comes as the Witkoff and Morgan Stanley team is in the process of redeveloping the 16-story building into a 23-story luxury condominium. About 85 percent of the 125 units are already sold. Upon completion of the work, the retail space in the building will feature roughly 12,000 square feet of corner ground floor and basement space. [more]

  • 2-park

    2 Park Avenue and Ralph Giordano

    An Israeli textile company is the latest tenant to join Morgan Stanley Real Estate Fund’s office tower at 2 Park Avenue, between 32nd and 33rd streets.

    Delta Galil grabbed a 47,000-square-foot sublease from French cosmetics maker Coty for the next eight years. Both the sublessee and sublessor pay in the $40s per square foot for the space. Delta Galil currently subleases at 6 East 32nd Street and plans to move to the nearby Park Avenue spot in the spring. [more]

  • Morgan Stanley CEO James Gorman

    Morgan Stanley CEO James Gorman

    Morgan Stanley has agreed to pay $1.25 billion to settle a U.S. regulator’s claims that it sold toxic mortgage-backed securities to Fannie Mae and Freddie Mac that compounded their losses during the financial crisis.

    Morgan Stanley had disclosed in a November filing that the case revolved around the sale of about $11 billion worth of mortgage-backed securities, and said yesterday in a filing that it took a $150 million charge on its fourth-quarter earnings. [more]

  • Haim Chera of Crown Acquisitions and 170 Broadway

    Haim Chera of Crown Acquisitions and 170 Broadway

    Crown Acquisition, the Carlyle Group, Tribeca Associates and Highgate Holdings are in contract to sell a 20,000-square-foot retail condominium near the World Trade Center for close to $70 million, The Real Deal has learned. [more]

  • 2 Park Avenue and Tara Stacom

    2 Park Avenue and Tara Stacom

    UPDATED: 10:31 a.m., February 3: Morgan Stanley Real Estate Fund’s office tower at 2 Park Avenue is now fully leased, following a new lease with women’s clothier Talbots and a lease extension with medical malpractice firm Medical Liability Mutual Insurance Company.

    In a 12-year deal, Talbots will take 49,574 square feet on the second floor of the 981,000-square-foot, 29-story tower, located between 32nd and 33rd streets. Medical Liability also opted to renew its lease for 10 years for a 54,616-square-foot space on the 25th and 26th floors. [more]

  • Click to enlarge

    WEEKENDEDITION Economist Robert Shiller warned all of us of the U.S. housing market bubble before the bubble eventually burst.

    So, people took notice when Shiller said that some local housing markets in the U.S. were looking “bubbly.” He’s pointed his finger repeatedly and specifically to Phoenix and Las Vegas where prices have roared back. The credit analysts at Morgan Stanley, however, disagree with these concerns. [more]

  • Bank of America and Morgan Stanley

    Bank of America and Morgan Stanley

    The fourth quarter of 2013 was a rough one for many of the country’s biggest banks, thanks to lingering litigation, the payouts for which took a bite out of the bottom line. [more]

  • lenori

    26 East 63rd Street (Inset: John Mack)

    Former Morgan Stanley CEO John Mack is having a hard time selling his nine-room penthouse in Lenox Hill’s Leonori building at 26 East 63rd Street. [more]

  • 2 Park Avenue and Jonas Bonnier

    2 Park Avenue and Jonas Bonnier

    There are subplots and there are subleases. At 2 Park Avenue, the two are coming together in a way. Swedish media company Bonnier Corp., which publishes Popular Science and Outdoor Life, is subleasing 27,000 square feet of its space in Morgan Stanley’s office building to book marketer Bookspan, The Real Deal has learned from CompStak. [more]

  • 1290 Avenue of the Americas, where Morgan Stanley recently paid a bargain price for a sublease deal

    1290 Avenue of the Americas

    The amount of sublease space in the Manhattan office market fell in the second quarter of 2013 while the number of sublease deals increased, according to CBRE Group data reviewed by the Wall Street Journal. The shrinking availability of sublease space could lead to a rise in rents.

    The amount of sublease space available in the second quarter was 18 percent, a year-over-year decrease of 5.3 percent and a long way from the mid-2009 high of 31 percent, the CBRE data show. Leasing sublease space often results in a significant cost savings for the tenant, as sublease rents and capital costs are typically lower than direct leases. [more]

  • Offices along Sixth Avenue

    Offices along Sixth Avenue

    Rents on Manhattan’s once-invincible Sixth Avenue have flatlined and vacancies are on the rise, as technology firms are showing a preference for trendier neighborhoods and large blocks of sublease space have hit the market, the Wall Street Journal reported.

    More than 780,000 square feet of office space is available for sublease along Sixth Avenue, according to CoStar data cited by the Journal. This allows tenants to find bargains, but is a worry for landlords who may have made recent big investments in the area. [more]

  • From left: Mitti Liebersohn, 1290 Avenue of the Americas and Matthew Astrachan

    UPDATED, 5:37 p.m., May 23: In what is the largest sublease of the year so far, Morgan Stanley has inked a 148,421-square-foot deal at Vornado Realty Trust’s 1290 Avenue of the Americas, according to data from commercial real estate firm Cassidy Turley provided to The Real Deal. See chart after the jump.[more]

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  • 26 East 63rd Street #12AF and John Mack

    Morgan Stanley CEO John Mack is looking to unload his nine-room penthouse in the Lennox Hill’s Leonori building, according to Curbed. Asking price for the 3,650-square-foot duplex: $22.5 million.  [more]

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  • Goldman Sachs and Morgan Stanley will shell out a combined $557 million to settle the federal government’s allegations that the banks foreclosed on homeowners who should have been allowed to stay in their homes, the Associated Press reported. The deal, announced today with the Federal Reserve, could compensate hundreds of thousands of homeowners who fell victim to “robo-signing,” when banks signed off on foreclosures without proper review. [more]

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  • On the heels of a discriminatory lending case that cost Wells Fargo $175 million, the American Civil Liberties Union is taking on Morgan Stanley. According to the New York Times, the ACLU will file a class-action suit in federal court in New York today — alleging that Morgan Stanley violated the Fair Housing Act and the Equal Credit Opportunity Act by targeting risky and expensive loans at African-American borrowers from 2004 to 2007.

    “Morgan Stanley actively encouraged lending tactics that increased the levels of risk associated with individual loans,” the ACLU said in its complaint. [more]