Spitzer Recaps 420 Kent Avenue, Meadow Partners Takes Minority Stake
Eliot Spitzer has recapitalized his multifamily project at 420 Kent Avenue in Brooklyn, bringing in Meadow Partners as a partner.
Source: commercialobserver.com
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Lexin Capital Buys Back Its Defaulted Chelsea Office Loan
Lexin Capital has snapped up the nonperforming debt on its own office property at 229 West 28th Street at a discount.
Source: commercialobserver.com
Sherwood Equities Sells Renaissance Hotel Times Square to Apollo and Newbond Holdings – Commercial Observer
Apollo and Newbond Holdings are the new owners as the 200,000-SF, 317-key hotel changes hands for the first time since 1985.
Source: commercialobserver.com
Related Sells Chelsea Multifamily Asset to Pacific Urban, CalPERS for More Than $180M – Commercial Observer
Related Companies is saying sayonara to The Sierra, the firm’s luxury multifamily building at 130 West 15th Street.
Source: commercialobserver.com
Empire Capital Under Contract to Buy Silverstein's 529 Fifth Avenue for $105M – Commercial Observer
Empire Capital Holdings is under contractto purchase 529 Fifth Avenue for $105 million, Silverstein's building near Grand Central.
Source: commercialobserver.com
Chetrit acquires $200M stake in Black Spruce apartment portfolio
Share Josh Gotlib’s Black Spruce Management has struck a deal with Isaac Chetrit’s AB & Sons to recap half of his firm’s Manhattan multifamily portfolio. AB & Sons has paid $200 million for a 50 percent stake in the 1,800-unit portfolio of workforce-housing buildings that Black Spruce has accumulated over the past 12 years. The deal includes 950 units in buildings situated primarily in Hell’s Kitchen and Morningside Heights. Gotlib tapped Cushman & Wakefield rainmakers Adam Spies, ...
Source: rew-online.com