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The Real Deal New York
Here is how Pfizer’s sale-leaseback stacks up to other big deals
April 12, 2018 01:10PM
Mark Maurer and Rich Bockmann
In 2016, Pfizer embarked on a daunting task: a search for both the buyer of its longtime two-building headquarters on East 42nd Street and...
RXR joins Olayan on 550 Madison Avenue’s $300M redevelopment
April 05, 2018 03:15PM
RXR Realty has joined the local arm of Saudi Arabia’s Olayan Group on its $300 million repositioning of 550 Madison Avenue. RXR invested an...
Sony Building might get landmarked
November 28, 2017 01:55PM
Preservationists who oppose the Sony Building’s planned $300 million renovation took a step forward in their bid to have the tower landmarked. The city’s...
“We’re not going to scrimp and save”: Owner of Sony Building aiming for rents of over $200 psf
October 30, 2017 02:25PM
The Sony Building is about to get a $300 million makeover, and owner Olayan America is hoping the changes will help command higher rents....
Olayan refinances Sony Building with four-year, $570M loan from ING Capital
November 21, 2016 09:05AM
Olayan America locked down a $570 million, four-year loan for the Sony Building, replacing a short-term bridge loan that ING Capital had provided the...
CBRE wins assignment to lease 550 Madison: sources
July 25, 2016 01:30PM
Rich Bockmann and Mark Maurer
About three months after negotiating a blockbuster deal to buy the former Sony Building for $1.4 billion, Olayan America has tapped a team at...
VIDEO: Feast your eyes on the Sony Building’s once-planned condos
June 30, 2016 04:27PM
Before 550 Madison Avenue was sold to Olayan America, a division of Saudi conglomerate Olayan Group, the Chetrit Group and David Bistricer’s Clipper Equity had...
What could have been: A look at the opulent condos once planned for the Sony Building
June 30, 2016 07:00AM
Oh! What it seemed to be. Before deciding to sell the Sony Building at 550 Madison Avenue, the Chetrit Group and Clipper Equity had...
Olayan closes on Sony Building buy, gets $570M bridge loan
June 02, 2016 12:40PM
Saudi conglomerate Olayan Group closed on its $1.4 billion acquisition of the Sony Building at 550 Madison Avenue, receiving a $570 million bridge loan...
Chetrit may be first of many developers to pull the condo plug
April 28, 2016 07:00AM
The prospective residential conversion of the Sony Building at 550 Madison Avenue was once a symbol of the luxury property boom. With a $150...
VIDEO: The former Sony Building won’t be getting its Robert A.M. Stern-designed condos anymore
April 27, 2016 02:34PM
Amid concerns about a potential glut in New York City’s ultra-luxury market, the Chetrit Group and Clipper Equity are canceling their plans for a...
The Saudis in the shadows: A look at the Olayan Group, the soon-to-be owners of the Sony Building
April 27, 2016 10:31AM
It’s a classic rags-to-riches story. An orphan from a small town mortgages his house to buy a handful of trucks, which allow him to...
Art vs. commerce: Sony Building muralist wants more control
March 28, 2016 08:03AM
A pair of pictures is worth 1,000 of Joseph Chetrit’s words, at least to Dorothea Rockburne.
Chetrit, Bistricer looking for new $1.4B loan for 550 Madison
March 21, 2016 04:50PM
Joseph Chetrit’s Chetrit Group and David Bistricer’s Clipper Equity are looking to secure a new loan worth around $1.4 billion for the conversion of Sony’s...
Famed Sony Building murals at risk
January 24, 2016 04:00PM
As the former Sony Building prepares for a massive condo conversion, the fate of the art in the lobby hangs in the balance. Artist...
Sony closing retail store at 550 Madison Avenue
January 11, 2016 06:00PM
Sony will be moving more than just its corporate headquarters out of 550 Madison Avenue in Midtown. The electronics giant is set to close...
Chetrit taps Elliman’s Roger Erickson to market condos at 550 Madison
January 04, 2016 02:45PM
The Chetrit Group tapped Douglas Elliman’s Roger Erickson to handle sales at 550 Madison Avenue, the former Sony Building, which the developer is converting...
The Real Deal’
s hottest stories of 2015
December 31, 2015 08:01AM
New York City has, for quite some time, been the world’s most dynamic and high-stakes real estate market. But 2015 pushed all the elements...
Robert A.M. Stern designing Chetrit’s Sony Building condos
December 02, 2015 04:10PM
The Chetrit Group’s much-hyped condo conversion of the Sony Building in Midtown is picking up steam, with the launch of the project’s teaser site...
Chetrit’s plans for Sony Building could include Bristol hotel
June 09, 2015 12:30PM
The Chetrit Group’s plans for the Sony Building at 550 Madison Avenue could include an ultraluxury hotel brand coming to the property. Chetrit is reportedly...
PHOTOS: REBNY’s 123rd annual gala
Knotel has quietly inked 160K sf in leases since December
These are some of the most notable resi sales of the week
Breather taps former mattress startup executive for CEO role
Inside REBNY’s 2019 gala
January 2019 issue
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