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Acquisitions

Real Estate Roundup 6.24.19

Source: Flickr

Leasing

Kaplan International inks a 25,000 SF office lease at 1790 Broadway. The building is owned by a partnership between Spiros Milonas and John Catsmatidis. (CO)

Tacombi inks a 3,000 SF lease to open a restaurant at Caspi Development’s 74 Broad Street in the Financial District.

NYU Dental School inks a 18,373 SF lease at 445 Albee Square in City Point. Asking rent on the 15-year deal was $55 per SF. (CO)

Politics

New rent law puts NYC multi-family landlords in a financial bind… Germany is much worse: Berlin to impose 5-year rent freeze amid anger at rising prices. (WSJ+FT)

A divided U.S. Supreme Court made it easier for landowners to sue for compensation when a government regulation reduces the value of their property, overturning a decades-old precedent that had limited lawsuits in federal court. (Bloomberg)

Other news

Real estate is top alternative asset for Canadian institutional investors. (Renx)

Toys ‘R’ Us, back from the dead, will open U.S. stores in 2019 (Bloomberg)

Construction stalls at Extell’s Hard Rock Hotel site at 159 West 48th Street. The developer is still in the process of finalizing a contract with a new construction manager, AECOM Tishman. (NYPost)

Colliers Fires CEO of Real Estate Services, Dylan Taylor for improper trading activity. (GlobeSt)

LIC development site at 2-33 50th Ave hits the market… Zoning allows for around 420,000 SF of residential space. (Crain’s)

Who gets to own the West? A new group of billionaires is shaking up the landscape.. Among the nation’s top landowners are John Malone (2.2 million acres), Ted Turner (2 million acres), Peter Buck, Koch brothers, Jeff Bezos, and William Bruce Harrison. These new buyers have become a symbol of the gentrification of the interior West. (NYTimes)

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