Murray Hill Properties

• October 2017 New York Buildings For Sale
• Buildings Sold: Gaw Capital Partners is looking to obtain a $170 million loan to make one of the largest single-asset New York City hotel deals of the year: the $340 million purchase of the Standard Hotel from Dune Capital Management and Greenfield Partners. Extell Development purchased a drug rehabilitation center building with seven-floors, 27,000-square-foot property at 500 West 57th Street that is entirely leased to substance-abuse treatment center ACI for $19 million. Charles Ekblom, a now-deceased landlord, bought it from Columbia University in the 1960s, and the building was placed in a family trust until the sale. A famous recording ...
  
  
• December 2016 New York New Developments
• Major Developments: The city’s Human Resources Administration will renew its lease for 264,358 square feet at 109 East 16th Street and plans to spend more than $20 million on renovations. The proposed lease has a starting rent of $76.83 per square foot. As the market for land sales in Manhattan has cooled off amid a real estate slowdown, air rights trades have plummeted. The dollar volume spent on Manhattan air rights through the end of September totaled $70.69 million. That sum was down roughly 74% from the $269.78 million spent on deals that closed through the first nine months of ...
  
  
• July 2016: New York Buildings For Sale
• New York Buildings sold Harry Macklowe and Qatari investment bank QInvest closed on a deal to buy 432 Park Avenue's retail space for $411.1 million. CIM Group is developing the 1,396-foot condo tower in partnership with Macklowe the seller. The cube will include 6,600 square feet of retail space and will be connected to 20,000 square feet of retail space in the tower itself through a 30,000-square-foot underground concourse. Global Holdings is in contract to buy 1250 Broadway, an office tower owned by Jamestown and Murray Hill Properties, for $565 million. 1250 Broadway is a 39-story, 721,000-square-foot tower. The contract ...
  
  
• 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 ...
  
  
• October 2014 New York Buildings For Sale
• New York Buildings sold San Francisco-based Carmel Partners officially completed the purchase of a downtown development site for $171 million. The transaction also includes development rights.Potential buyers are in early discussions interested in buying the Diamond Center of America, a 16-story office tower that is being marketed as a potential redevelopment site. The building, located at 36-42 West 47th Street, is home to some of the top jewelry merchants in the world, but the property has a number of leases set to expire and is seen as a potential site for anything from new commercial development to residential or hospitality ...
  
  
• February 2014 New York Buildings For Sale
• NYC Buildings For Sale Vornado Realty Trust is asking roughly $650 million for its 20-story office tower at 1 Park Avenue. The real estate investment trust saved the 925,000-square-foot tower from foreclosure in 2011 after paying $180 million to recapitalize and gain control of it from Norman Sturner’s Murray Hill Properties.A Financial District development site that will allow for a 264,200-square-foot residential tower or hotel is on the market for an undisclosed price. The site at 45 Broad Street once belonged to Kent Swig, but he was forced to turn it over in 2011 after defaulting on a loanA 1.2 ...
  
  
• September 2012 New York Buildings For Sale
• NYC Buildings For Sale A Coney Island development site ready for a 22-story building is hitting the market for $14 million.The property is located at 271 Seabreeze Avenue, near the Atlantic Ocean and adjacent to the Coney Island boardwalk and Seaside Park. It is zoned for residential, hotel or senior living use, and plans drawn up by owners American Development Group would sustain up to 153 apartments, or 183 extended-stay hotel rooms, and 102 parking spaces.A troubled 12-story commercial loft building Noho is scheduled for auction next month, after CW Capital foreclosed on the mortgage and sold the debt to ...
  
  
• May 2012 New York New Developments
• New Developments Morgan Stanley just signed a lease for almost 1.2 million square feet of space at Brookfield Office Properties Inc.'s 1 New York Plaza in lower Manhattan. The bank, which currently occupies about 816,000 square feet at the building, will expand by an additional 337,000 square feet. The agreement is the largest office lease for a single building in New York since 2008. Mayor Michael Bloomberg’s push to modernize Midtown East office buildings has become a legacy issue as the mayor’s reign whines to a close. Bloomberg wants to re-zone the area bounded by Third and Fifth avenues and ...
  
  
• November 2011 New York New Developments
• New Developments The Chelsea Art Museum located at 556 West 22nd Street is about to be replaced by Hewlett-Packard, which has special plans for the building. HP signed a 10-year lease for the entire 34,500 feet inside the three-story museum building at 556 West 22nd Street near 11th Avenue.. Drastic job and spending cuts are in the cards for 2013 for the New York City construction industry, according to a report released today by the New York Building Congress entitled "New York City Construction Outlook 2011-2013." Construction spending is expected to total $27.7 billion this year.The average number of construction ...
  
  
• June 2011 New York New Developments
• New Developments Companies such as Boston Properties and Vornado Realty Trust are in negotiations with potential tenants and may even proceed with construction without securing leases. Boston Properties may be the first to break ground by the end of 2011. The company is finalizing negotiations to anchor a 1 million-square-foot tower at Eighth Avenue and 55th StreetRelated Companies CEO Stephen Ross said he was confident about attracting tenants for the first phase of the development, which will include four million square feet of office space. "I think we're going to surprise people," he said. "We're talking to nine tenants at ...
  
  
• 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 ...
  
  
• February 2011 New York New Developments
• New Developments Three years after the Related Cos. began developing its 26-acre Hudson Yards project, the company is now trying to find a tenant willing to commit to occupying at least 600,000 square feet of office space. To land its key tenant, Related is offering either to construct a building and sell it to that company or to provide a big break on the rent. The 12 million-square-foot space, bordered by the High Line and the Hudson River, will run from 10th to 12th avenues and from West 30th to 33rd streets. The $15 billion project is expected to take ...
  
  
• May 2008 New York Buildings For Sale
• 650 Madison Avenue, a 27-story, 600,000 RSF office building, was sold to Ashkenazy Acquisition Corp. for $695 million. 1250 Broadway, a 39-story, 670,000 RSF office building, was sold to Murray Hill Properties for $310 million. 100 Fifth Avenue, a 19-story, 240,000 RSF office building, was sold to Rock New York (100-104 Fifth Avenue) LLC for $152 million. 100-104 Fifth Avenue, a 20-story, 270,000 RSF office building, was sold to Rock Investments for $150 million. 370 Canal Street, a 20-story hotel, 360 rooms total, was sold to Magna Hospitality Group for $83 million. 8 Gramercy Park South and 141 East 33rd ...