Industrial Real Estate


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From left: BSA chairwoman Margery Perlmutter, DRAW Brooklyn founder Alexandros Washburn, New York City Council Member Carlos Menchaca with renderings of the project (Photos via the City of New York, LinkedIn and Arquitectonica)
News Analysis

How a Red Hook developer circumvented the City Council

Developers can’t go through Carlos Menchaca, but they can go around him. The Brooklyn City Council member last year...

How a Red Hook developer circumvented the City Council
Blackstone's Ken Caplan (iStock; Blackstone)
National

Industrial now 36% of Blackstone’s RE portfolio

In the past five years, Blackstone has pivoted its portfolio away from retail and hotels and instead turned toward...

Industrial now 36% of Blackstone’s RE portfolio
Travelers CEO Alan Schnitzer and a rendering of the distribution center (Photos via Travelers; rendering via JLL)
Tri-State

Hicksville Home Depot distribution center sells for $74.5M

A Minnesota-based insurance company has acquired a new Home Depot distribution center on Long Island. Lincoln Equities Group of...

Hicksville Home Depot distribution center sells for $74.5M
RXR CEO Scott Rechler with 56-19 Grand Avenue, Queens (Getty, RXR)

These were the top outer-borough loans in December

The 10 largest outer-borough loans in December totaled $1.17 billion, a sharp drop-off — about 40 percent — from...

These were the top outer-borough loans in December
Dov Hertz and an aerial of 1900 South Avenue in Staten Island (Photos via Adam Pincus; Google Maps)

Dov Hertz picks up Staten Island site for $65M

One of the city’s most active industrial investors just picked up a big property on Staten Island for $65...

Dov Hertz picks up Staten Island site for $65M
An aerial view of 595, 611, 627 and 659 Smith Street in Brooklyn with Joseph Nakash, Eli Gindi and Joseph Chetrit (Google Maps; Getty)

Warehouse planned for Gindi, Chetrit and Nakash site in Red Hook

The Gindi, Chetrit and Nakash families have formed a joint venture with Bridge Investment Group to develop a warehouse...

Warehouse planned for Gindi, Chetrit and Nakash site in Red Hook
From left:  Joseph Chetrit, 404 Fifth Avenue and WeWork CEO Sandeep Mathrani (Photos via Wikipedia Commons; Google Maps)

WeWork battles Chetrit Group over Midtown lease

WeWork claims the Chetrit Group is threatening to illegally draw down on a multimillion-dollar letter of credit at its...

WeWork battles Chetrit Group over Midtown lease
Brooklyn Army Terminal and the Guggenheim Museum (Getty, iStock)

Guggenheim renews 31K-sf lease at Brooklyn Army Terminal

The Guggenheim Museum has renewed a 31,400-square-foot lease for its storage facility at the Brooklyn Army Terminal, Commercial Observer...

Guggenheim renews 31K-sf lease at Brooklyn Army Terminal

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