The Real Deal New York

Posts Tagged ‘yoron cohen’

  • 434-broadway

    Yoron Cohen and 434 Broadway

    Real estate investment firm Atlas Capital Group acquired a 58,500-square-foot Soho office building on the bustling Broadway corridor for $62 million, according to city property records filed today.

    The seller, the Georgetown Group, a privately held real estate investment and development company in the Upper East Side, had purchased the nine-story building at 434 Broadway near Howard Street for $41 million in 2010. The purchase by Midtown-based Atlas went from a contract signing to an all-cash closing in just 10 days, at a price 50 percent higher than the building traded for just three years ago. [more]

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    From left: Mitch Konsker of Jones Lang LaSalle, Janno Lieber of Silverstein Properties and Yoron Cohen of Jones Lang LaSalle (credit: Marc Becker and Howard Weschler)

    Brokers were bullish on the future of commercial leasing in Lower Manhattan, the slowest market in the city, at the 2012 Celebration of New York Real Estate Development at 7 World Trade Center.

    Despite the flurry of commercial space coming on market in the next few years, Mitchell Konsker, who was the recipient of angel sponsor Jones Lang LaSalle’s “most innovative deal of the year award” at the same ceremony, said that spillover from the red-hot Midtown South submarket is decreasing downtown vacancy…. [more]

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    From left: Adam Spies, Robert Knakal, Woody Heller, Richard Baxter and Harry Krausman
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    Sources: CoStar Group, PropertyShark.com and The Real Deal.
    Footnotes: Sales data is for Manhattan deals published on the city property record site Acris in September and provided by PropertyShark.com. Brokers and additional information is from CoStar Group and The Real Deal.

    The top commercial deal to be recorded in city property records in September
    was JPMorgan Chase Asset Management closing on the $719 million acquisition of the 14-story office and commercial building
    200 Fifth Avenue, (part of the former International Toy Center buildings),
    PropertyShark.com data shows. Eastdil Secured’s Adam Spies and Douglas
    Harmon brokered the sale (see chart above). The purchase drove much of the
    monthly total transfer value, which was $2.9 billion in commercial deals reported
    on the city property record site Acris, an analysis of PropertyShark.com figures
    show…. [more]

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    From left: David Schechtman, Lipa Lieberman, Asher Bernstein and 114 West 86th Street (building photo: PropertyShark)

    A 16-story Upper West Side apartment building mired in a dispute between a woman and her aging stepfather that bounced among New York, Florida and California courts, is scheduled to be sold at auction in May, with bids starting at nearly $18 million, federal bankruptcy records show.

    The woman, Claudia Raffone, who lives in Beverly Hills, Calif., and the stepfather, Henry Douglas Campbell, of Manhattan, have battled each other since at least 2003 over the 49-unit building at 114 West 86th Street, located between Columbus and Amsterdam avenues.

    But on Wednesday, the ownership dispute moved closer to resolution, when a federal bankruptcy judge in California set a May 4 date to sell the property at auction, bankruptcy records show.

    The first official bid that sets a lowest price, known as the stalking-horse bid, was entered by Midtown-based Bernstein Real Estate, at $17.95 million, bankruptcy court records show. The sale is being handled by Lipa Lieberman and David Schechtman, brokers with investment sales firm Eastern Consolidated. … [more]

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