TIAA-CREF | The Real Deal New York

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TIAA-CREF

730 Third Avenue
New York, NY 10017
(212) 490-9000
Website

TIAA-CREF is a large pension fund investing for academics, researchers, government workers and others. It was founded in 1918 by Andrew Carnegie, and has since become a major player in the real estate industry. The fund began investing in real estate in 1934 and then broke into direct ownership in New York City real estate at the end of World War II when the fund purchased a storefront in Queens and an office building in Midtown. TIAA-CREFs real estate account has outpaced comparable real estate funds in recent years, averaging roughly 10 percent returns in recent years. It also has bought stakes in various office buildings and high-end retail storefronts (such as Apples 14th Street building). Among TIAA-CREFs premier properties over the years are the famed Seagram Building (which it sold in 2000) and 7 World Trade Center. Its most recent expansion, the 2014 acquisition of Henderson Global Investors, resulted in a huge boost to the pensions real estate holdings to more than $80 billion.


01/04/17
Live Nation is relocating from its longtime home in Times Square to the Meatpacking District, where the concert promoter has subleased 100,000 square feet in...

09/28/16
...buildings in the Ring brothers’ portfolio. 7) Metropolitan and TIAA-CREF snag LIC office building - $89 million Brickman sold its second Queens property of the...

07/26/16
...Two companies are taking nearly 50,000 square feet in TIAA-CREF...

06/15/16
A financial services firm and the governing body of the Commonwealth of Nations, formerly the British Commonwealth, will soon take up residence at TIAA’s 685...

05/20/16
...space at several Class A office buildings – including TIAA-CREF’s 780 Third Avenue and the Durst Organization’s 114 West 47th Street – where it runs...

05/13/16
...located at 460 West 42nd Street, from Related and TIAA-CREF for $260.8 million last year. A rendering of the bedroom Prices at the building range...

05/10/16
...to buy the property’s fee interest from TIAA-CREF as early as 2027. Victoria's Secret occupies one of the retail spaces at the property...

04/06/16
...purchases – 20,000 square feet at Taconic Investment Partners and TIAA-CREF’s 401 West 14th Street, and a combined 20,000 square feet at William Gottlieb Real Estate...

04/01/16
...another deal for a new Williamsburg rental building, TIAA-CREF bought the 234-unit rental at 250 North 10th Street for $169 million last year...

02/05/16
...acquired the apartments from the Related Companies and TIAA-CREF for $260 million last year. Related continues to operate the lower floors of the 63-story...

01/05/16
...Ninth and Tenth avenues, from Related Cos. and TIAA-CREF for $260.8 million earlier this year. Kuafu and its partner plan to convert the property...

12/30/15
When Isaac Bowman got a concierge job at a Queens apartment building last year, he hoped it would be his ticket out of a homeless...

12/17/15
...at 601 Lexington Avenue for $725 million, and partnered with TIAA-CREF to acquire the leased fee position for 2 Herald Square for $365 million. Outside New York...

12/15/15
...a 10-year lease to take 35,000 square feet at TIAA-CREF’s 550,000-square-foot Midtown East tower. It plans to move from its current 3 Park Avenue...

11/18/15
...From left: TIAA-CREF...

11/17/15
...Third Avenue in Midtown Nonprofit financial services giant TIAA-CREF bought hundreds of thousands of acres of Brazilian land since 2012, bypassing restrictions on purchases...

11/13/15
...inset: Taconic's Charlie Bendit) Taconic Investment Partners and TIAA-CREF secured a $89 million mortgage refinancing at 401 West 14th Street in the Meatpacking District, the...

11/02/15
...properties with a total of 1,790 apartments. L+M, TIAA-CREF and Savanna rescued the rent-stabilized buildings, located from 139th Street to 142nd Street between...

10/14/15
...with Joe Sitt's Thor Equities, for $200 million to TIAA-CREF in January. – Ariel Stulberg...

10/06/15
...Midtown South,” Jeon added. KTCU recently partnered with TIAA-CREF to purchase a $175 million loan on David Werner's Socony-Mobil Building, the first investment in...

07/13/15
...deal recorded in May took place in Brooklyn. TIAA-CREF purchased a residential building at 236 North 10th Street in Williamsburg for $169 million –– $699 per square...

06/01/15
...Lexington Avenue for $725 million. Norges also partnered with TIAA-CREF to acquire the leased fee position for 2 Herald Square from SL Green for $365 million...

05/06/15
...sharing website and app inked a lease at TIAA-CREF...

05/05/15
...North 10th Street in Williamsburg TIAA-CREF is buying a 234-unit residential building in Williamsburg for $169 million from a partnership between...

03/26/15
...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...
  • Event Financing
  • Address 1511 Third Avenue
  • Neighborhood Upper East side
  • Borough Manhattan
  • Square feet 18,280
  • Price $ 50,800,000
  • Publication Date 11/01/2016
  • Event Date 09/15/2016
  • Party 1 TIAA-CREF
  • Party 2 JPMorgan Chase Bank
notes
The company secured a $50.8 million loan for the retail condominium.
  • Event Office Leasing
  • Address 475 Fifth Avenue
  • Neighborhood Midtown
  • Borough Manhattan
  • Square feet 3,000
notes
The architecture firm signed a lease.
  • Event Office Leasing
  • Address 475 Fifth Avenue
  • Neighborhood Grand Central
  • Borough Manhattan
  • Square feet 32,000
  • Event Office Leasing
  • Address 685 Third Ave
  • Neighborhood Grand Central
  • Borough Manhattan
  • Square feet 13,683
  • Publication Date 06/01/2015
  • Event Date 04/22/2015
  • Party 1 TIAA-CREF
  • Party 1 Brokerage JLL
  • Party 1 Broker Don Kollar
  • Party 2 Chang Hwa Commercial Bank
  • Party 2 Brokerage First New York Realty
  • Event Retail Leasing
  • Address 475 Fifth Avenue
  • Neighborhood Midtown
  • Borough Manhattan
  • Square feet 15,500
notes
The Japanese design store signed a lease to occupy the ground floor. The reported asking rent was $400 per square foot.
  • Event Sales
  • Address 636 Sixth Avenue
  • Neighborhood Chelsea
  • Borough Manhattan
  • Price $ 42,000,000
  • Event Office Leasing
  • Address 475 Fifth Avenue
  • Neighborhood Central Park South
  • Borough Manhattan
  • Square feet 56,000
notes
The publishing company signed a lease to occupy the second, third, 14th and 16th floors.
  • Event Office Leasing
  • Address 685 Third Avenue
  • Neighborhood Midtown
  • Borough Manhattan
  • Square feet 27,235
notes
The United Nations non-profit signed a lease to occupy the 12th floor.
  • Event Office Leasing
  • Address 475 Fifth Avenue
  • Neighborhood Grand Central
  • Borough Manhattan
  • Square feet 4,319
notes
The global provider of air conditioning and refrigeration signed a 10-year lease for the entire 21st floor.
  • Event Office Leasing
  • Address 475 Fifth Avenue
  • Neighborhood Grand Central
  • Borough Manhattan
  • Square feet 7,842
notes
The bank signed a 10-year lease for the entire 18th floor.
  • Event Office Leasing
  • Address 475 Fifth Avenue
  • Neighborhood Grand Central
  • Borough Manhattan
  • Square feet 16,029
notes
The investment management firm signed a 10-year lease for the entire 10th floor.
  • Event Office Leasing
  • Address 685 Third Avenue
  • Neighborhood Grand Central
  • Borough Manhattan
  • Square feet 22,372
notes
The financial communications consultancy signed a 10-year lease for the entire second floor, the New York Observer reported.
  • Event Office Leasing
  • Address 685 Third Avenue
  • Neighborhood Grand Central
  • Borough Manhattan
  • Square feet 58,527
notes
The publishing company signed a 15-year lease on the ninth and 10th floors. The tenant is relocating from 711 Third Avenue.
  • Event Sales
  • Address 1511 Third Avenue
  • Neighborhood Yorkville
  • Borough Manhattan
  • Price $ 60,000,000
notes
The property sold for $60 million. The building is fully leased to two retail tenants: the Gap on the ground floor and basement and Equinox on the upper three floors. The New York Observer reported that the buyer was TIAA-CREF and that the seller was the Related Companies.
  • Event Office Leasing
  • Address 685 Third Avenue
  • Neighborhood Grand Central
  • Borough Manhattan
  • Square feet 74,349
notes
The enterprise cloud computing company signed a 10-year lease for the entire sixth and seventh floors, as well as part of the eighth floor. The tenant is relocating and expanding from a smaller, 16,350-square-foot space at 2 Grand Central Tower.
  • Event Office Leasing
  • Address 470 Park Avenue South
  • Neighborhood Garment District
  • Borough Manhattan
  • Square feet 10,181
notes
The law firm signed a nine-year lease on the third floor.
  • Event Office Leasing
  • Address 470 Park Avenue South
  • Neighborhood Garment District
  • Borough Manhattan
  • Square feet 9,361
notes
The strategic marketing agency signed a seven-year lease on the 16th floor.
  • Event Sales
  • Address 475 Fifth Avenue
  • Neighborhood Grand Central
  • Borough Manhattan
  • Square feet 280,000
  • Price $ 144,000,000
  • Price per foot $ 514.29
notes
The property sold for $144 million, or about $514 per square foot. A joint venture of real estate developer Joseph Moinian and Westbrook Capital acquired 475 Fifth Avenue, located at 41st Street, in 2007 for $160 million, but lender Barclays took the property back in 2009 through a deed in lieu of foreclosure.
  • Event Sales
  • Address 425 Park Avenue
  • Neighborhood Plaza District
  • Borough Manhattan
  • Price $ 315,000,000
  • Publication Date 07/01/2011
  • Event Date 05/22/2011
  • Party 1 Goelet family
  • Party 2 TIAA-CREF
notes
The land underneath the building sold for $315 million.
  • Event Sales
  • Address 200 West 72nd Street
  • Neighborhood Lincoln Square
  • Borough Manhattan
  • Price $ 209,000,000
  • Price per foot $ 1,400.00
notes
The rental building known as the Corner sold for $209 million, or about $1,400 per square foot. The selling group will hold onto the 48,000-square-foot retail space in the property, currently home to Trader Joe's and Duane Reade.
  • Event Office Leasing
  • Address 470 Park Avenue South
  • Neighborhood Garment District
  • Borough Manhattan
  • Square feet 20,362
  • Publication Date 05/01/2011
  • Event Date 03/22/2011
  • Party 1 TIAA-CREF
  • Party 1 Brokerage JRT Realty
  • Party 1 Broker Greg Smith
  • Party 2 Peppercom
  • Party 2 Brokerage JLL
  • Party 2 Broker James Quinn, Gary Youm, Ryan Masiello
notes
The strategic communications agency signed a 15-year lease renewal for the entire fourth and fifth floors.
  • Event Office Leasing
  • Address 780 Third Avenue
  • Neighborhood Plaza District
  • Borough Manhattan
  • Square feet 4,146
  • Price per foot $ 70.00
  • Publication Date 12/01/2010
  • Event Date 10/22/2010
  • Party 1 TIAA-CREF
  • Party 1 Brokerage JRT Realty
  • Party 1 Broker Jodi Pulice, Greg Smith, Kate Pezzolla
  • Party 2 Jeffrey Modell Foundation
notes
The nonprofit signed a lease on the 47th floor.
  • Event Sales
  • Address 685 Third Avenue
  • Neighborhood Grand Central
  • Borough Manhattan
  • Square feet 500,000
  • Price $ 190,000,000
  • Price per foot $ 380.00
  • Publication Date 10/01/2010
  • Event Date 08/22/2010
  • Party 1 TIAA-CREF
  • Party 1 Brokerage CBRE
  • Party 2 TIAA-CREF
notes
The building closed for $190 million, or about $340 per square foot. In June, it was reported that more than a dozen bidders were vying for the property with prices hovering around $150 million. The closing price is approximately 27 percent higher than the offers.
  • Event Office Leasing
  • Address 730 Third Avenue
  • Neighborhood Grand Central
  • Borough Manhattan
  • Square feet 43,000
  • Publication Date 01/01/2010
  • Event Date 11/22/2009
  • Party 1 TIAA-CREF
  • Party 2 Sentry Centers
notes
The operator of executive business spaces signed a lease on three floors.
  • Event Office Leasing
  • Address 730 Third Avenue
  • Neighborhood Grand Central
  • Borough Manhattan
  • Square feet 120,000
  • Publication Date 11/01/2009
  • Event Date 09/22/2009
  • Party 1 TIAA-CREF
  • Party 1 Brokerage CBRE
  • Party 1 Broker Howard Fiddle, Zach Freeman, Rima Shpolyansky
  • Party 2 United Nations
  • Party 2 Brokerage FirstService Williams
  • Party 2 Broker Andrew Roos, Donald Lutt
notes
The United Nations signed a four-year lease for three floors.
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Manhattan, 10028
CPF 1511 THIRD AVENUE LLC
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Manhattan, 10017
420 Lexington Avenue, or The Graybar Building, is an office skyscraper at 420-430...

09/28/16
...buildings in the Ring brothers’ portfolio. 7) Metropolitan and TIAA-CREF snag LIC office building - $89 million Brickman sold its second Queens property of the...

...having invested in Boston Properties’ 7 Times Square and TIAA-CREF’s 470 Park Avenue South. The sovereign fund got into the property investment game in...

...and UDR, the mega Midtown-based teachers’ pension fund TIAA-CREF was also a buyer on one of the 10 priciest buildings to sell in 2012. The...

...virtually the entire office portion of pension fund TIAA-CREF’s 275,000-square-foot office building 475 Fifth Avenue hit the market, according to a new listing...

...at 685 Third Avenue last month by retirement group TIAA-CREF is a case in point, said Jodka. The property will be empty and require...

...square foot leasing deal he did for landlord TIAA-CREF with tenant Fairchild Publications at 750 Third Avenue as "one of the largest, least contentious...
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