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Acquisitions

Real Estate Roundup 9.25.19

Softbank’s Masayoshi Son and Saudi Crown Prince Mohammed bin Salman
(Credit: Bloomberg)

Real Estate Roundup

WeWork Coverage

WeWork turmoil puts spotlight on JPMorgan Chase and Goldman Sachs. (FT)

Meet the New Co-CEOs of WeWork. (WSJ) 

WeWork Ex-CEO to Staff: ‘Too Much Focus Has Been Placed on Me’. Lol (Bloomberg)

Adam Neumann does not seem like the kind of person you’d want running a public company — or maybe any company at all. But anyone who thinks his decision Tuesday to step down as WeWork’s CEO will solve all the company’s problems and get its IPO back on track is seriously deluding him or herself. (BusinessInsider)

Acquisitions 

Slate + China Vanke + Adam America Group have sold the 150,000 SF building at 45 Rivington Street last week to an anonymous buyer for $159.6 million. (TRD)

Looking for an Owner’s Rep? Contact Eastbound at jordan@eastboundconstruction.com

Leasing

Facebook is in talks to lease all 740,000 SF of office space being built in the former James A. Farley Post Office (AKA Farley Building) — located across from Madison Square Garden. (NYPost)

General Atlantic has inked a lease to expand by roughly 30,000 SF at Fisher Brothers’ 55 East 52nd Street. The deal brings the investment firm’s footprint to more than 93,500 square feet through 2039. Asking rent for the space was in the low $100s per SF. (TRD)

Ikea is set to open a 115,000 SF location at 61-35 Junction Blvd in Rego Park, Queens next summer. The store will offer customers thousands of products for purchase and takeaway, while larger furniture items will be on display and available for delivery. Ikea plans to open 30 city center locations around the world over the next three years. (Crain’s)

Dean & DeLuca closes its Midtown store at 620 Eighth Avenue. (NYTimes)

Other news

Compass’ COO Maëlle Gavet, a former top executive at Priceline Group is out. Tensions have reportedly grown between Gavet and CEO Robert Reffkin over the strategic direction of the company. (TRD)

Green Courte Partners is considering selling the Parking Spot, a provider of airport parking and shuttle services. The company is expected to draw interest from real estate and infrastructure investment firms. (Bloomberg)

Uber ex-CEO Travis Kalanick has acquired a small stake in India’s largest shared-kitchen company, Rebel Foods. (Bloomberg)

Home-price gains in 20 U.S. cities decelerated in July for a 16th straight month, as values proved still too elevated for buyers despite low mortgage rates. (Bloomberg)

An inside look at One Vanderbilt, NYC’s tallest office tower. (NYPost)

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