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Acquisitions

Real Estate Round Up – 6.12.19

(Credit: Win McNamee/Getty Images)

Acquisitions 

Ken Subraj’s Zara Realty has acquired 140-60 Beech Avenue and 140-30 / 140-50 Ash Avenue in Flushing from Ilias Theodoropoulos for $80 million. The two properties span 250,000 SF, and contain 266 apartments. (TRD)

Financing

Vornado has secured a $500 million loan from the Bank of China to refinance the following three retail properties: 640 Fifth Avenue, 6 West 52nd Street, and 650 Fifth Avenue. (TRD)

China Oceanwide Holdings has secured a $175 million loan from DW Partners for its development site at 80 South Street. The company is currently shopping the site, which is zoned for an 818,000 SF mixed-use development. (TRD)

Steel Equities has secured a $50 million loan from TD Bank to finance work on industrial buildings in Bushwick at 325-333 and 339 Johnson Avenue. The buildings were recently leased to Netflix. (CO)

Muss Development + Bedrock Real Estate Partners have secured a $44.5 million loan from AXA to refinance their rental property at 180 Franklin Avenue in Clinton Hill. (CO)

Lonicera Partners has secured $70 million in acquisition and construction financing from Santander Bank + City National Bank for a new residential development at 308 Livingston Street in Downtown Brooklyn. (CO)

Office Leasing

Justworks inks a 270,000 SF lease at the Retirement Systems of Alabama’s 55 Water Street. (NYPost)

Greenhill & Co. has leased 78,000 SF at Rockefeller Group’s 1271 Avenue of the Americas. (Crain’s)

Retail Leasing

Krispy Kreme bringing ‘glaze waterfall’ to new Times Square flagship at 1601 Broadway(Crain’s)

Other news 

Waldorf Astoria to sell 375 condos as Chinese owners shrug off glut. (WSJ)

SL Green puts 220 East 42nd Street (AKA Daily News building) on the market. (TRD)

Trump’s net worth rises to $3 Billion… The President’s 30% stake in two Vornado properties – 1290 Ave. of the Americas, a 2.1-million-square-foot tower in midtown Manhattan, and 555 California Street, a 1.8-million-square-foot office complex known as the Bank of America Center in San Francisco’s financial district – accounts for a quarter of his fortune. (Bloomberg)

SoftBank is working with Goldman Sachs to try and raise money for its second $100 billion technology investment fund. (Bloomberg)

The Treasury Department released final rules that shut down a tax-planning strategy for residents of high-tax states, nixing a workaround that could have helped New York, New Jersey and Connecticut residents skirt the new cap on state and local tax deductions. (WSJ)

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