Thor’s $150M loan on 597 Fifth heads to special servicing
Thor Equities’ troubles at 597 Fifth Avenue are mounting. The firm’s $105 million commercial mortgage-backed securities loan tied to...
Commercial Real Estate
Target planning yet another NYC store in Chelsea
Target is opening yet another location in New York City. The big-box retailer has signed a lease at 258...
Two-year Tribeca foreclosure saga continues with lawsuit over $20M
Churchill Real Estate has filed a lawsuit against a company tied to CTW Realty’s Gary Tse in order to...
Adam America secures $63M in financing for Upper West Side project
Adam America Real Estate recently secured two loans totaling $63 million for an Upper West Side development that’s been...
National
Pandemic takes drastic toll on dry cleaners
At J’s Cleaners, business had clawed up to 40 percent of pre-pandemic levels last month. But now, with Covid-19 soaring again, that number is expected to plummet. “If this thing keeps dragging, many small...
National
Real estate deals dominate Opportunity Zones. Is that bad?
Investment in Opportunity Zones is growing at a rapid pace, and so is skepticism about the program — and...
National Issue
Behind Deutsche Finance’s American buying binge
When Deutsche Finance Group looked to crack the U.S. real estate market, it set its sights on a prime...
Prologis picks up Maspeth parcel for $51M
Prologis is broadcasting that the industrial market remains hot in the outer boroughs. The industrial giant picked up 223,000 square feet of land at 48-00 Grand Avenue in Maspeth for $51 million from a...
Apple snags more space at Vornado’s 11 Penn Plaza
Apple is betting big on Midtown: The tech giant has inked a deal to expand its offices at Vornado...
National
Tech giants occupy nearly 600M-sf of US real estate
The sluggish commercial real estate market is getting a boost from tech giants Amazon and Facebook, which have emerged...