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West New York, Mack-Cali officials cut ribbon at the Capstone at Port Imperial

West New York, Mack-Cali officials cut ribbon at the Capstone at Port Imperial
Photo courtesy of Gerald Vitiello.
By Daniel Ulloa/Hudson County View
The 330-unit, 11-story building is a 17-minute walk from the nearest light rail station.
Chair of Roseland Residential Trust, a Mack-Cali subsidiary, Marshall Tycher noted that the ribbon cutting was delayed due to the COVID-19 pandemic.
“People have been living in this building through tremendously difficult times,” he said.
Tycher noted 220 units, or about two-thirds of the building, has been rented out already. He also thanked PNC, Providence, and TD Banks for providing capital for the project. ....

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Katie Kurtz has joined the company as Chief Financial Officer.
As an experienced finance executive with over 15 years success in the financial services sector, Kurtz will be responsible for Silverstein’s finance and accounting organization.
Kurtz was previously an Ex ecutive Vice President at AR Global (ARG) where she served as Chief Financial Officer, Secretary and Treasurer for multiple Real Estate Investment Trusts (REIT) and Business Development Companies (BDC).
She most recently served as Chief Financial Officer, Secretary and Treasurer for three REITs: American Finance Trust, Inc. (NASDAQ: AFIN), Healthcare Trust, Inc. and New York City REIT, Inc. (NYSE: NYC). ....

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Birch Group pays Mack-Cali $255M for NJ office portfolio

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The Birch Group, a privately-held commercial real estate investor, owner and operator, today announced the $255 million acquisition of a four-building portfolio in Short Hills, N.J.
The off-market acquisition comes on the heels of the company’s recent $77 million portfolio purchase in Morristown, and further cements its focus on acquiring prime value-add office assets across the suburbs of Northern N.J.
The 843,300 s/f portfolio comprises four Class A office buildings located at 51, 101, 103 and 150 JFK Parkway in the affluent Short Hills submarket.
Cushman & Wakefield represented Mack-Cali Realty Corporation, the seller, and is also being retained by The Birch Group as the exclusive office leasing agent for the properties. With the acquisition, The Birch Group has now acquired over $750 million of commercial office assets since 2019. ....

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The Birch Group acquires four-building Short Hills portfolio for $255M

The Birch Group acquires four-building Short Hills portfolio for $255M
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RXR welcomes celebrity chef to Starrett-Lehigh Building

RXR Realty announced that celebrated restaurateur and award-winning chef Marcus Samuelsson will lease over 5,000 s/f in the base of the Starrett-Lehigh Building in West Chelsea for new restaurant and culinary concept.
The Starrett-Lehigh Building is a landmarked Manhattan property, encompassing a full city block between 11th and 12th Avenues and 26th and 27th Streets, with 2.3 million square feet of office and retail space.
Samuelsson’s restaurant will be located on the corner of 26th and 11th Avenues, with outdoor entrances as well as an interior entrance for direct access from Starrett-Lehigh, making a new culinary experience available to office tenants and patrons. ....

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