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Real Estate Roundup 8.14.19

Acquisitions 

Rockrose Development has entered into contract to acquire a development site at 96, 98, and 104 Dekalb Avenue in the mid-$60 million range. The development site is located at the edge of Fort Greene and Downtown Brooklyn and offers approximately 235,000 buildable SF. The firm is also negotiating to buy adjacent air rights that would push the price higher. (TRD) 
Rabsky Group is paying Yoel Goldman’s All Year Management $80 million for a Gowanus development site at 313-331 Bond Street. The site offers around 185,000 buildable SF. Goldman is retaining a 12.5 percent stake in the asset as part of the deal. (TRD)

Leasing

Paperwork has been drafted for Amazon to lease the rest of SL Green’s 460 West 34th Street — some 400,000 SF. The building sits on the entire Tenth Avenue blockfront between West 33rd and 34th Streets opposite Hudson Yards. Keep in mind, this is a draft lease, nothing is set in stone, and big tech companies have been notoriously flaky. (NYPost)

WeWork has inked a 56,000 SF lease at AHRC New York City’s 83 Maiden Lane. Asking rent was $44 per SF. (CO)

Shake Shack inks 3,268 SF lease at Rockpoint Group’s 1700 Broadway. Asking rent was $300 per SF. (NYPost)

Other news 

BRP Companies filed plans for a 24-story mixed-use tower to 163-05 Archer Avenue in Jamaica, Queens. The new project will have 399,240 SF of residential space, 14,077 SF of commercial space and nearly 200 parking spaces. (TRD)

Empty storefronts jolt NYC Council into action on small business. (Bloomberg)

Office tower at Hartz Group’s 667 Madison Avenue has been without power for 2 weeks. (TRD)

Backlash over Stephen Ross’ Trump fundraiser continues. New York Fashion Week at Hudson Yards the latest culprit. (Elle)

Joseph Tsai to buy Brooklyn Nets for record $2.35 billion. (NYPost)

Commercial-property prices in major cities around the world tumbled in the second quarter, amid signs of slower global growth and heightened trade tension between China and the U.S. (WSJ)

Nearly five years after the office tower at One World Trade Center opened, the building is still losing money. That is largely because costs related to security efforts ($91.4 million) to prevent any future attacks are making it hard to break even. (WSJ)

If the tuition doesn’t get you, the cost of student housing will. (Bloomberg)

Wall Street sees even more Fed rate cuts ahead with Morgan Stanley predicting a return to zero. (CNBC)

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