Harbor Group International

• October 2023 New York Buildings For Sale
• Buildings for Sale: US Masters Residential Property Fund is looking to sell its 479-property portfolio piecemeal of largely one- to four-unit properties for $858 million. Blackstone stopped making payments in March 2022 on the $308 million CMBS loan backing 1740 Broadway, a 26-story office tower a block from Carnegie Hall, and gave the keys to the lender. CWCapital was appointed and is now planning to sell the note for the 621,000 SF tower. Extell Development is now asking $195 million for the triplex down from $250 million. The price of the 17,500-square-foot triplex or $11,100 per square foot. A $240 ...
  
  
• October 2021 New York New Developments
• New Developments 2 World Trade Center is looking for an anchor tenant, which would be required for a construction loan. Norman Foster of Foster + Partners would serve as the architect on the project. Landlords are ready to fight over whether the city should regulate retail and office rents. The City Council’s Committee on Small Business is planning a hearing on a bill to create a rent guidelines board that would limit rent increases on small commercial spaces. The board would have jurisdiction over small retail and office spaces, up to 10,000 square feet, as well as manufacturing establishments up ...
  
  
• September 2021 New York Buildings For Sale
• Buildings for Sale: Edison Properties, which manages the storage provider, is working with Eastdil Secured to find a buyer. The company may be the largest market among Manhattan storage providers. The leasehold for 587 Fifth Avenue, a 10-story, mixed-use building between 47th and 48th Streets, is asking $36 million. Infinity Collective holds the ground lease. The building has 4,000 SF retail and 38,600 square feet of office space. It is 66% leased. The ground lease runs through August 2079, and annual payments rise in fixed steps from $655,000 today to $750,000 in 2036, then drops to $600,000 from 2041 on. ...
  
  
• March 2021 New York Buildings For Sale
• Buildings Sold: SL Green Realty is unloading its stake in Midtown’s Tower 46. The real estate investment trust is in contract to sell its 25% interest in the commercial condominium units at 55 West 46th Street to a Brookfield Asset Management real estate fund for a gross valuation of $275 million, or $793 per square foot. DivcoWest is going to buy a Hudson Square building and has an exclusive agreement to buy Jamestown Properties’ 325 Hudson Street. Pricing for the 10-story, 225,000-square-foot building is north of $150 million. CBS Broadcasting, an entity owned by ViacomCBS, bought a site at 500 ...
  
  
• October 2020 New York New Developments
• New York New Developments Vacant office and retail space will have a domino effect on the city’s budget and economy. The Metropolitan Transportation Authority faces a $12 billion budget deficit by 2021. The low office numbers have also led to a projected $9 billion drop in sales tax and other revenues. About 24,000 New Yorkers have lost their lives to the coronavirus. The unemployment rate is 16% and just 10% of workers have returned to the office by September. Personal income tax revenue may drop by $2 billion this fiscal year. Only a third of hotel rooms are occupied, and ...
  
  
• March 2017 New York Buildings For Sale
• New York Buildings for Sale: Three Riverside Boulevard parking garages encompassing more than 228,000 square feet and 995 parking spaces are asking $65 million, or $65,300 per space. The parking garages are at the base of five condominium buildings at 80, 100-120 and 220-240 Riverside Boulevard. Developer Steve Witkoff has a federal judge’s approval to sell the Park Lane Hotel as part of an agreement to oust Malaysian investor Jho Low. U.S. District Court Judge approved plans as part of a cooperation agreement reached after Low became entangled in a money-laundering scandal. The current plan is to sell the whole ...
  
  
• November 2015: New York Buildings For Sale
• New York Buildings sold Condo developer Six Sigma is in contract to buy a six-story self-storage facility near the northern end of the High Line in Chelsea for $54 million at 517-523 West 29th Street. The seller is self-storage Nicholas Sprayregen. The six-story, 55,000-square-foot, warehouse is one of 14 facilities in Manhattan, Brooklyn, Queens and the Bronx. The site is zoned for up to 74,000 buildable square feet. Vornado Realty Trust purchased 265 West 34th Street for $28.5 million. Vornado acquired the property from a group led by Manhattan attorney William Silverman. The deal gives the company three contiguous properties ...
  
  
• 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 ...
  
  
• April 2014 New York Buildings For Sale
• NYC Buildings For Sale New York Foundling is asking $47.5 million for a four-story Greenwich Village building it bought for $3 million about 12 years ago. The 14,540-square-foot property at 27 Christopher Street, near Waverly Place, has served as a nursing school and parochial school. The space currently houses the Vincent J. Fontana Center for Child Protection, an organization that offers training to child-care workers.A 20,000-square-foot, multi-level retail space at the base of building at 95 Madison Avenue is for sale.Hiro Real Estate and Goldman Sachs’ landmarked tower at 150 East 42nd Street, also known as the Socony-Mobil Building, is ...
  
  
• 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 ...
  
  
• July 2012 New York Buildings For Sale
• Buildings for Sale Vantage Properties and Area Property Partners have unloaded the Savoy Park apartment complex in Harlem for more than $210 million, satisfying the outstanding balance on the senior mortgage. Larry Silverstein is cutting his losses and moving on from Lexington Avenue. His Silverstein Properties and the California State Teachers’ Retirement System have entered contract to sell the 35-story office building at 575 Lexington Avenue for about $360 million to Normandy Real Estate Partners and New York Life Insurance. The deal is worth $10 million less than the agreement the owners nearly struck with Rockrose Development, before Henry Elghanayan ...