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Acquisitions

Real Estate Roundup 9.20.19

3 World Trade Center (Credit: Silverstein Properties)

Real Estate Roundup

Acquisitions

Harbor Group International has acquired 545 Washington Boulevard in Jersey City from the LeFrak Organization for $375 million. The office building spans 867,000 SF. (REA)

Prologis acquired 498 & 512 Johnson Avenue in East Williamsburg for $21 million. The two industrial parcels span 55,000 lot SF, and allow for the development of 275,000 SF. (ACRIS)

Financing 

Louis Mont’s Skyline Development Group has secured a $55.5 million construction loan from Mosaic Real Estate Investors for its 70-unit condo project at 8701 Churchill Road in North Bergen. Jonathan Aghravi of JBA Equities arranged the financing. 

Retail

Starbucks’ new store concept: Pick-up only. (CNN)

Inside Apple’s reimagined Fifth Avenue store. (TechCrunch)

Politics 

Scrutiny into Extell’s Upper West Side tower’s mechanical space will continue. (Crain’s) 

Fed raised interest rates by a quarter of a percentage point on Wednesday. (NYTimes)

Other news 

Home flippers see lowest returns in 8 years as costs rise. (CNBC)

Unizo Holdings exiting the NYC market… The Japanese firm is selling two downtown office buildings — 40 West 25th Street and 685 Third Avenue. (Crain’s)

Investors want Airbnb to sort things out with New York City before it goes public in 2020. (Bloomberg) 

Rabbet recently launched software to help real estate lenders and developers seamlessly manage complex capital stacks. (Rabbet)

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