Carlyle Group

News about Carlyle Group, including commentary and archival articles published in our Articles.

June 2023 New York Buildings For Sale
Buildings for Sale: Premier Equities bought the hotel at 1141 Broadway in 2019, and is seeking around $60 million for the 10-story NoMad property. Three Nolita Veracity Equities are slated for a foreclosure auction as the firm struggles to repay a $41 million loan. 31 Prince Street, 46 Spring Street and 48 Spring Street are now more than 121 days delinquent. Appraised value has dropped from $66 million when the loan was issued in March 2018 to $49.5 million. All the properties are walk ups and have a combined 48 residential units, only six of which are rent-regulated and eight ...
August 2022 New York Buildings For Sale
Buildings for Sale: Steve Witkoff and Ian Schrager have defaulted on their Public Hotel on the Lower East Side. The developers defaulted on their $189 million mortgage backing the 367-room hotel at 215 Chrystie Street, and are now paying a 9% penalty interest rate. Their lender, Deutsche Bank, is looking to sell the non-performing loan. Aby Rosen has put the Church Missions House for sale at $135 million, or about $3,000 per square foot. It is a six-story, 45,000-square-foot office property located at 281 Park Avenue South. Thor Equities is still trying to sell a Lenox Hill townhouse after 10 ...
January 2022 New York New Developments
Market Overview: The Terminal 1 project at John F. Kennedy International Airport is ready to take off with a new $9.6 billion price. The terminal has been restructured, moving forward after a two-year delay. A consortium led by the Carlyle Group along with Johnson Loop Capital Infrastructure and Union Labor Life Insurance Company will finance the development, which is now expected to break ground in mid-2022. The latest cost estimate includes $7.2 billion for design and construction and $2.3 billion in “financing and other costs.” The new Terminal 1 will include 23 international gates across 2.4 million square feet, spanning ...
November 2021 New York Buildings For Sale
Buildings for Sale: A CMBS trustee filed to foreclose on the loan on the defaulted loan secured by the 470 Broadway property citing $22.9 million in debt. The debt consists of $18 million in unpaid principal, $2.6 million in unpaid interest and $2.3 million in protective advances. Thor was delinquent on a $105 million loan at 597 Fifth Avenue, after missing payments in August and September 2020. PBC is seeking a buyer for its 865,000-square-foot building at 452 Fifth Avenue where HSBC’s New York office is located. The building is expected to go for at least $850 million, or $982 ...
November 2020 New York Buildings For Sale
Buildings For Sale: Four New York Plaza, a 22-story, 1.1-million-square-foot office building in the Financial District, is for sale. The current owners, Edge Fund Advisors and HSBC Alternative Investments, purchased the property in 2012 for $270 million and could sell it for $300 million. Brookfield Asset Management is looking to sell its life-sciences real estate portfolio for around $3 billion. The investment company is marketing the 2.3 million-square-foot portfolio. A 12-story building in New York’s Diamond District has hit the market for $113 million. The building at 576 Fifth Avenue contains both retail space on the lower levels and office ...
October 2018 New York New Developments
New York Major Developments: The number of extended-stay luxury hotel rooms are on the rise, increasing to 34% over the past five years. Occupancy rates are coming back higher than typical rooms at an encouraging 77%. Amazon 4-Star opened in Soho at 72 Spring Street and is similar to Amazon Books, but will sell a range of products, all of which must have a rating of at least 4 stars by Amazon customers. Women-only meeting space provider Luminary is opening its first location in NoMad. The company signed a 15,000-square-foot lease at 1204 Broadway. The 12-year deal spans the third ...
September 2018 New York New Developments
New York Major Developments: Manhattan dominated the list of New York City’s top 10 largest real estate projects in July. Marx Development Group’s roughly 213,000-square-foot hotel and retail project at 450 11th Avenue in Hudson Yards. Covenant House is planning a 12-story, 60-unit building in Hudson Yards about 53,000 square feet. Its new project would replace a smaller eight-story youth homeless shelter currently on the site of 460 West 41st Street. 323 East 61st Street from the William Macklowe Company will span about 50,000 square feet and stand six stories and 74 feet tall. WeWork just signed a 258,344-square-foot lease ...
July 2018 New York Buildings For Sale
New York Buildings for sale: RXR and Walton Street want to sell 237 Park Avenue, with an unofficial price tag of around $1.4 billion. Host Hotels may sell some of its non-core hotels that could exceed $2 billion. Host owns multiple hotels in New York City, including the W Union Square and the New York Helmsley. It is close to selling the W to Westbrook Partners. A subsidiary of Blackstone Group, EQ Office, is putting one of its office buildings near Bryant Park on the block. The 22-story, 350,000-square-foot property is at 114 West 41st Street with an unofficial asking ...
April 2018 New York Buildings For Sale
New York Buildings for sale: Two sites in Staten Island spanning roughly 1.1 million square feet were hitting the market with an asking price of $23 million. The two parcels at 4482 Arthur Kill Road and 742 Sharrotts Road span 24.5 acres. The owner of sports apparel chain Modell’s is in talks to sell its Bronx warehouse for more than $100 million. The chain uses the nearly 300,000-square-foot warehouse on Marconi Street for storage and distribution. Modell’s is close to selling the two-story building, which sits on a 12-acre lot. Magnum Real Estate Group’s Ben Shaoul is in contract to ...
April 2017 New York Buildings For Sale
New York Buildings For Sale: Ashkenazy Acquisition Corporation and DekaBank are looking to sell a newly redeveloped retail space at the base of 522 Fifth Avenue. The owners finished a $16 million renovation of the two vacant retail condominiums at the base of the 23-story, 380,000-square-foot office condo building. The two-floor retail condos together have 27,310 square feet, with about 10,850 square feet on the ground floor. The retail was valued at $277 million last year, when General Growth Properties sold its 10% stake to an unidentified investor. Ashkenazy, Germany-based DekaBank and Chicago-based real estate investment trust GGP jointly acquired ...
February 2017 New York New Developments
Major Developments: Jared Kushner sold his equity stake in 666 Fifth Avenue though the identity of the buyer and what they paid for remains unknown. Kushner paid $1.8 billion for 666 Fifth Avenue in 2007, he then sold off a major stake in the retail portion to Carlyle Group and Crown Acquisitions for $525 million. The Chinese Investment in foreign property increased by more than half last year. The U.S. received the bulk of those investments, totaling $14.3 billion. New York University signed a lease for 58,000 square feet at 180 Madison Avenue, and has committed to taking another 41,000 ...
October 2016 New York Buildings For Sale
Buildings For Sale Ashkenazy Acquisitions and Deka Immobilien put the New York Marriott East Side hotel on the market 17 months after buying it. The sellers are unlikely to get more than the $270 million they paid for the 525 Lexington Avenue property in 2015. The landmarked building spans 319,319 square feet and includes 655 hotel rooms and the 525LEX restaurant. Jona Rechnitz, the developer at the forefront of a probe into corruption at the New York Police Department, is looking to sell a Midtown development site for $26 million. JSR Capital bought the property at 238 Madison Avenue in ...
May 2016: New York Buildings For Sale
New York Buildings sold Sierra Assets Group bought at 160 East 56th Street a Midtown office building for $18.7 million. The building has 42 units which are mostly office tenants with some retail and contain 51,900 square feet. David Associates, sued three of the property's managing members in October to fairly partition the proceeds from the sale, citing constant friction between the owners. The owners countersued, claiming they were owed income from the property that was never distributed.The Renatus Group bought two contiguous mixed-use buildings at 152-154 7th Avenue for $10.5 million from Michael Connolly. One of the building's three ...
April 2016: New York Buildings For Sale
New York Buildings sold Jeff Sutton">Jeff Sutton purchased a four-story, mixed-use building along Bleecker Street in the West Village for $11 million, or $2,434 per square foot from Mark Perlgut. The 4,159-square-foot building at 275 Bleecker Street is home to David's Tea on the ground floor, and four apartments on the upper floors.Mack-Cali Realty Corp. is in contract to sell its interest in 125 Broad Street in the Financial District for $202 million. Recently, Mack- Cali Realty was looking to sell its commercial condominium at the 40-story, 1.3 million-square-foot tower. Mack-Cali bought the 525,000-square-foot condo, spanning the second through 16th ...
October 2015: New York Buildings For Sale
New York Buildings sold Jerry Gottesman, the chair of Edison Properties, just closed on the $43.1 million purchase of 45-47 West 27th Street in NoMad.Kamber Management closed on its $365 million purchase of Tower 45 from SL Green Realty. The sale price values the class-A, 460,000-square-foot office tower, located at 120 West 45th Street, at $830 per square foot. SL Green Realty agreed to sell two retail development sites, at 570 Fifth Avenue and 574 Fifth Avenue in Midtown, getting $125.4 million. SL Green bought the two sites from Extell Development in 2013 for a total of $78.7 million. Walter ...
July 2015: New York New Developments
New York University's campus expansion plans to expand the school by about 2 million square feet in Greenwich Village hasve been approved by Tthe New York State Court of Appeals.s gave an approval to New York University's campus expansion plans to expand the school by about 2 million square feet in Greenwich Village. Neighborhood activists sued to prevent the expansion, claiming it used land that was permanently designated for public park use. The plan will create new high rises on two blocks between West Third and Houston Streets and La Guardia Place and Mercer Street. FAO Schwarz is close to ...
May 2015: New York Buildings For Sale
New York Buildings sold Eliot Spitzer's sale of the Crown Building for $1.78 billion to Jeff Sutton and General Growth Properties set an all-time price per-square-foot record. The deal, which closed last month, marks the highest price paid per square foot ever paid for an entire office building. At 390,000 square feet, the price breaks down to $4,564 per square foot.Extell Development and the Group.">Carlyle Group sold a portion of their Riverside Center project on the Far West Side for $410.8 million to James Linsley's GID Development Group. GID purchased 40 Riverside Boulevard, one of five buildings in the 8-acre ...
November 2014 NYC Buildings purchased & For to purchase
New York Buildings sold Two properties in Midtown East were just sold for $18 million. A five-building development site at 134-142 Bowery sold for $45.3 million.A Midtown East-based real estate investment firm bought 66 Pearl Street for $30.1 million.Emmes Asset Management is selling a Midtown South office building at 158 West 27th Street for a sizable profit. The 118,000-square-foot building is in contract for $82.5 million.New York University bought a 151,000-square-foot building in Noho for $157 million, with plans to convert it into a temporary space for athletic facilities.Ashkenazy Acquisition Corporation bought a pair of adjacent retail buildings a block ...
June 2014 New York Buildings For Sale
New York Buildings For Sale The Rubin Museum of Art is looking to sell a Chelsea development site that delivers more than 70,000 buildable square feet of space. The site, which is now a seven-story building, is expected to go for $60 million. The site at 115 Seventh Avenue near West 17th Street is most valuable as a condominium-and-retail project. Thus, the current structure would have to be demolished.A local investment company that has for decades owned a building which houses a drug abuse treatment facility has put the property on the market. Many in the industry think the property ...
March 2014 New York Buildings For Sale
New York Buildings sold The ELO Organization, a developer that owns the site of gentlemen’s club Rick’s Cabaret, has acquired a 12-story Garment District office building for $29.6 million from the Eretz Group. The 44,300-square-foot property at 39-41 West 38th Street. Asking rents were an average $38 per square foot at the property, International buyers purchased $5.5 billion worth of Manhattan office towers last year, from China, Canada and the United Arab Emirates. Last year’s sales were twice as much as the previous record of $3 billion in 2007. Fosun from China bought One Chase Manhattan Plaza, for over $700 ...
March 2014 New York New Developments
New Developments 68 Charlton Street Extell Development has submitted plans for a 22-story residential building in Hudson Square that would include the neighborhood its first affordable housing.Flushing Commons. Architect Perkins Eastman announced the master plan. Phase one will have 150 residential units and 220,000 square feet of office space, along with 1,600 parking spaces. Phase two will have 450 residential units and 280,000 square feet of commercial space, a 62,000-square-foot YMCA and an additional 15,000 square feet for community facilities. There will also be A 1.5-acre town square, built around a central fountain plaza.Phase one is aiming for an April ...
June 2013: NYC Buildings For Sale
NYC Buildings For Sale Hines is selling off two Midtown office properties at 499 Park Avenue and 425 Lexington Avenue for a combined price of more than $1 billion. JPMorgan Asset Management will pay $750 million for 425 Lexington.Quinlan Development Group will pay $4 million for air-rights from God’s Love We Deliver and intends to build a 14-story residential condominium project. The charity wants to sell the development rights to raise funds for a $26 million expansion at 166 Sixth Avenue, at Spring Street.Verizon is planning on selling or leasing around half the space inside its 31-story headquarters. The company ...
April 2013 NYC Buildings For Sale
NYC Buildings For Sale Harbor Group International is planning to sell its property at 1412 Broadway in Times Square South for about $250 million. Harbor Group purchased the 420,000-square-foot office building for $150 million in 2010. Harbor upgraded the building’s lobby, elevator cabs and base façade, as well as upgrading a small retail annex at 1420 Broadway, which is also part of the property. United Cerebral Palsy has put its East 23rd Street building on the block. Located at 122-130 East 23rd Street, the 60,000-square-foot building is being marketed as a development site. The sales price is expected to be ...
March 2012 New York New Developments
New Developments There are thousands of acres of rooftop space in New York City where growing farm operations are looking to expand. Groups such as Gotham Greens, Brooklyn Grange and BrightFarms are looking for elevated space where they can grow crops to sell to local restaurants and supermarketsSheldon Solow outdueled his West 57th Street rival and acquired an office building on the block at a near record price. Solow, bid $120 million for 12 West 57th Street to beat out One57 developer Gary Barnett, president of Extell Development, for the 12-story property. The price works out to more than $1,400 ...
February 2012 New York Buildings For Sale
NYC Buildings For Sale The Sapir Organization, the developer of Manhattan's Trump Soho, is planning to put the hotel and its unsold condominium units on the auction block. The auction will likely take place later in the spring.Aby Rosen's RFR Holding is in contract to buy back the debt for far less than the $144.2 million face value at the Midtown development site at 610 Lexington Avenue.Although the vacant property, where Rosen sought to build the Shangri-La Hotel, New York, is in contract to RFR Holding. Several more properties in the William Gottlieb estate have hit the sales market, encouraging ...
October 2011 New York Buildings For Sale
New York Buildings sold TIAA-CREF purchased the 280,000-square-foot office building 475 Fifth Avenue from Barclays Capital Real Estate 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.Stonehenge Partners has closed on the 93-unit apartment building at 1143 Second Avenue and 60th Street. Stonehenge paid KFJ Realty $47 million for the six-story building, which includes 15,000 square feet of retail ...
April 2011 New York Buildings For Sale
New York Buildings sold Host Hotels & Resorts closed on the $313.5 million sale of the New York Helmsley Hotel, which will be reflagged under the Westin Hotels & Resorts brand in mid-2012 after an extensive renovation. Host Hotels, will renovate the hotel, at 212 East 42nd Street, with a complete overhaul of its 775 guest rooms as well as a meeting space upgrade.Dune Real Estate Partners has agreed to pay $190 million for Anglo Irish Bank's mortgage loan on the embattled Mark Hotel on the Upper East Side. The note, which had a face value of around $300 million, ...
April 2011 New York New Developments
Major Trends Bruce Ratner wants to construct the world's tallest prefabricated structure at the Atlantic Yards site in Brooklyn, according to the New York Times. The 34-story proposed tower would include 400 affordable apartment units, fulfilling a promise Ratner made when he took over the site. The annual rate of building permits issued for new privately-owned U.S. housing units fell by another 8.2 percent in February to a record-low 517,000, according to the latest data from the Commerce Department, backing up analysts' predictions that a sustained recovery in the housing market is still elusive. The permitting rate, which is indicative ...
April 2011 New York Commercial Real Estate Market Report
Manhattan's office leasing market is on pace for its best year ever after February brought some 3 million square feet worth of deals,. That's far above the nine-year monthly average of 1.9 million square feet of office leases. The banner month also comes on the heels of a busy January, when 2.6 million square feet were snapped up in Manhattan office lease transactionsManhattan townhouses see 2010 sales uptickBoth the single-family and multi-family Manhattan townhouse markets showed signs of improvement last year, according to the Corcoran Group, which released its first annual Townhouse Report today. In the single-family market, the number ...
June 2010 New York New Developments
New Developments New York University may enter the public approval process for its new Silver Towers site, the crown jewel of its wildly controversial 2031 expansion plan. The biggest hurdle for the school will be gaining approval from the Landmarks Preservation Commission, which will have final say on whether NYU can build on the landmark Bleecker Street site. The proposed building will be a "slender pinwheel tower," and is rumored to be planned for a 40-story structure. New York University dropped in on Community Board 3's zoning committee meeting and had little to say about how its 6 million-square-foot expansion ...
April 2010 New York New Developments
New Developments The number of small- to mid-size medical and bio-pharmacy companies in the city has quadrupled to 120 from 2002, due to the city's recruitment and the accessibility of academic centers in the area. The Upper East Side girls' prep school has cancelled its expansion into the nearby apartment building. The Brearley School, at 610 East 83rd Street, had been angling to buy half the building at 85 East End Avenue, for use as additional teaching space but has fallen through. Extended Stay Hotels may accept a $905 million investment offer from Starwood Capital Group and associated investors in ...
July 2009 New York New Developments
New Developments The Federal Reserve has few deals for the start of its program to aid the commercial real estate market. Today is the first monthly deadline for investors to apply for loans to buy new commercial mortgage-backed securities through the Term Asset-Backed Securities Loan Facility. The Fed will start accepting investor requests for loans to purchase older CMBS.James Abadie, head of New York operations for construction firm Bovis Lend Lease, has resigned amid investigations of the company for alleged overbilling and bribery. Bovis is working on the September 11th Memorial and the demolition of the Deutsche Bank building.Global real ...
August 2008 New York Buildings For Sale
NYC Buildings For SaleStarrett City's bidders have been narrowed down to four finalists. Bids for the 46-tower Brooklyn complex were between $600 million and $1 billion, and government officials and Starrett City Associates are expected to choose the new owner by Sept. 1. Starrett City's 140 acres near Jamaica Bay in Brooklyn have retail space, a power plant, a sports center, office space, parking garages and vacant land.Large LeasesBurberry is in negotiation for offices at 444 Madison Avenue, for 68,448 square feet. The asking rent is around $85 per square foot. Burberry is also planning a ground-floor retail store.The world's ...
May 2008 New York Commercial Real Estate Market Report
The State Department of Labor has doubled the possible job cuts on Wall Street than the previous estimates. Predictions indicate that Wall Street will lay off 36,000 employees - one fifth of its entire work force, compared to the 20,000 that the city's Independent Budget Office predicted in March. The bleaker outlook will put a damper on the city's economy, and hurt Manhattan's commercial leasing market in the coming year. If all the layoffs occur, Manhattan will have up to 9 million square feet of office space, direct and sublease on the market.If that does, in fact, get reintroduced to ...

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