The Real Deal New York

Posts Tagged ‘tiaa-cref’

  • 685 Third Avenue

    685 Third Avenue

    MetLife has provided a $190 million loan to fund upgrades to TIAA-CREF and the Australian Government Future Fund’s 685 Third Avenue.

    The five-year debt deal closed earlier this month, according to the New York Observer. The 31-story tower doesn’t have any other existing debt. TIAA-CREF and the Australian sovereign wealth fund acquired the more than 646,000-square-foot property in 2010 from Pfizer for $190 million. [more]

  • 837 Washington Street

    837 Washington Street

    Thor Equities and Taconic Investment Partners are selling Samsung’s offices in the Meatpacking District, located at 837 Washington Street, for a reported record price in the neighborhood. [more]

  • penske

    From left: 475 Fifth Avenue, Jay Penske and Doug Neye

    Penske Media Corporation, the publishing company that owns such magazines as Variety and Women’s Wear Daily, inked a deal for 56,000 square feet at TIAA-CREF’s Midtown office building at 475 Fifth Avenue. [more]

  • TIAA-CREF buys $42M Chelsea retail condo

    December 23, 2014 05:20PM
    636 Avenue of the Americas in Chelsea

    636 Sixth Avenue in Chelsea

    Financial services company TIAA-CREF picked up an 18,280-square-foot retail condo in Chelsea for $42 million. [more]

  • MobilBuilding1

    150 East 42nd Street (Inset: TIAA-CREF CEO Roger Ferguson)

    TIAA-CREF and the Korean Teachers Credit Union acquired a $175 million loan on the Mobil building at 150 East 42nd Street. [more]

  • 21-penn

    From left: 21 Penn Plaza in Midtown, Savanna’s Chris Schlank and TIAA-CREF’s Roger Ferguson

    Financial services giant TIAA-CREF acquired a 16-story office building at 21 Penn Plaza in Midtown from Savanna and the Feil Organization for an undisclosed price, according to the buyer.  [more]

  • 685-third

    Daniel Horowitz and 685 Third Avenue in Midtown

    The Foundation for the Global Compact, a Midtown East-based nonprofit that partners with the United Nations, signed a lease for 27,235 square feet at TIAA-CREF’s 685 Third Avenue.

    The group will occupy the full 12th floor of the 31-story, 635,000-square-foot building near 44th Street. [more]

  • Rodney-Spruce-Ratner

    From left: Housing Development Corp.’s Gary Rodney, 8 Spruce Street (Photo credit: Google) and Bruce Ratner

    The city’s affordable housing finance unit is planning for the first time to issue bonds that will be packaged as commercial mortgage backed securities. This inaugural group of loans pegged at $550 million will be secured by the market-rate residential high-rise 8 Spruce Street, known as New York by Gehry, located in Lower Manhattan. [more]

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  • Savoy Park at 2300 Fifth Avenue

    Savoy Park at 2300 Fifth Avenue

    The owners of Harlem’s 1,800-unit Savoy Park apartment complex refunded about $250,000 to tenants just weeks after the group filed suit alleging the owners engaged in five years of overcharges, The Real Deal has learned.

    A group of 47 tenants at 2300 Fifth Avenue, one of seven buildings at the complex, filed suit in Manhattan Supreme Court on Aug. 1, alleging the owners overbilled tenants in violation of a 2011 order to reduce rents by a state agency. [more]

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  • Savoy Park

    A group of tenants at the Savoy Park apartment complex in Harlem have filed suit in Manhattan Supreme Court against the property‘s new ownership, which includes an affiliate of L&M Development Partners, along with financial services firm TIAA-CREF and an affiliate of real estate fund Savanna. The 47 Savoy residents are seeking about $700,000 for almost five years of alleged rent overcharges. [more]

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  • From left: TIAA-CREF logo, 2 Herald Square and Marc Holliday

    From left: TIAA-CREF logo, 2 Herald Square and Marc Holliday

    The large retirement investment firm TIAA-CREF is the buyer in a $365 million deal to acquire the leased fee interest in 2 Herald Square from SL Green Realty, The Real Deal has learned. [more]

  • 401 West 14th Street and TIAA-CREF CEO Roger Ferguson (inset)

    401 West 14th Street and TIAA-CREF CEO Roger Ferguson (inset)

    Asset manager TIAA-CREF has bought Clarion Partners’ minority stake in the Apple store building at 401 West 14th Street. Taconic Investment Partners owns the majority stake in the 64,226-square-foot Meatpacking District building on the corner of Ninth Avenue. [more]

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  • Peter Von Der Ahe, Joe Koicim, 26-36 27th Avenue and TIAA-CREF’s Thomas Garbutt

    Peter Von Der Ahe, Joe Koicim, 26-36 27th Avenue and TIAA-CREF’s Thomas Garbutt

    UPDATED, 12:56 p.m., Dec. 20: New York City-based financial services giant TIAA-CREF has sold the Exo, a 14-story, 115-unit rental apartment building in Astoria for $47.2 million, according to city records filed today. The buyer is a partnership between billionaire real estate investor Jeff Greene and Forest Properties, a Massachusetts-based landlord making its first foray into the New York City market. [more]

  • 685-third-avenue

    685 Third Avenue

    Pension fund giant TIAA-CREF’s 685 Third Avenue in Midtown East is gaining a financial communications consulting firm.

    Integrated Corporate Relations signed a 10-year lease for 22,372 square feet — the full second floor at the 31-story, 635,000-square-foot building. It is paying $50 per square foot to start, though asking rent was $55 per square foot. In 2010, TIAA-CREF bought the building near 44th Street and sought to overhaul the lobby and pocket park. [more]

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  • Henderson Group CEO Andrew Formica

    Henderson Group CEO Andrew Formica

    New York-based financial services giant TIAA-CREF and global investment management firm Henderson Group have struck a deal to combine their European and Asian real estate businesses, Bloomberg News reported. The new venture, TIAA Henderson Global Real Estate, will have $20 billion of assets under management.

    TIAA Henderson Global Real Estate will buy and manage commercial and multifamily residential real estate, the companies said in a statement today. The venture will invest about $1.5 billion of TIAA-CREF’s cash in the coming years to acquire properties, and will also open a commercial real estate debt business, according to the statement. [more]

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  • 470 Park Avenue South, Karsten Kallevig and 475 Fifth Avenue

    Norway’s $650 billion sovereign wealth fund has bought its first U.S. real estate, after announcing its new investment strategy in October, according to Bloomberg. The fund has paid out approximately $600 million to pension fund giant TIAA-CREF for a 49.9 percent stake in five U.S. office properties in New York, Washington and Boston. [more]

  • Epiq CEO Tom Olofson and 685 Third Avenue

    Amid a slow leasing market on Third Avenue, 685 Third Avenue has secured its third large tenant since TIAA-CREF purchased the property in 2010. Crain’s reported that Epiq Systems, a provider of technology services to clients in the legal profession, is near inking a deal for about 100,000 square feet.

    The lease will give the company three floors inside the 31-story building, which totals 650,000 square feet. An unnamed source told Crain’s that taking rents at 685 Third are in the $50 a square foot. [more]

  • From left: 8 Spruce Street and Darcy Stacom, vice chairman at CBRE

    Massive pension fund and real estate heavy TIAA-CREF agreed to pay about $250 million for 49 percent of New York by Gehry, the towering residential building designed by Frank Gehry at 8 Spruce Street in Lower Manhattan. The sale, by developer Forest City Ratner, values the building at $1 billion — the highest ever for a residential building in the U.S. – but the valuation includes debt, the Journal said. [more]

  • Salesforce.com CEO Marc Benioff and 685 Third Avenue

    Third Avenue’s slumping office market looks like it might finally catch a break. Salesforce.com is on the verge of signing a lease for 100,000 square feet at 685 Third Avenue, Crain’s reported.

    The near-vacant 650,000-square-foot office building, between East 43rd and East 44th streets was formerly Pfizer’s headquarters. TIAA-CREF bought the building for $190 million in 2010 and flipped a 49.99 percent stake a year later to Australia’s Future Fund Board of Guardians for $100.3 million. [more]

  • From left: Mitchell Konsker of Jones Lang LaSalle, 685 Third Avenue and 150 East 42nd Street

    The softest portion of Midtown’s struggling office market is along Third Avenue between East 38th and East 60th streets, according to Crain’s. The avenue’s vacancy rate rose 2.5 percentage points to 17.8 percent in the first quarter of this year, well above Midtown’s overall 11.7 percent vacancy rate. [more]


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