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Acquisitions

Real Estate Roundup 12.11.19

1540 Broadway (Credit: Vornado Realty Trust)

Real Estate Roundup

Acquisitions 

RedSky Capital and its partner JZ Capital Partners have sold 182 Flatbush Avenue to Hidrock for $7 million. The seller paid $4.1 million for the 5,000 square-foot asset in 2012. London Stock Exchange-listed JZ Capital is reportedly pushing to sell off assets as part of a liquidation plan to repay shareholders. (TRD)

Financing

Natixis has filed a lawsuit in Manhattan State Supreme Court alleging a $650 million portion of the loan package at Maefield Development’s 20 Times Square is in default because of “numerous undischarged mechanics’ liens recorded against the property.” The French Bank also claims that Maefield defaulted by failing to lease the project’s retail space by a September deadline. (TRD)

Other news 

ViacomCBS is considering a sale of the CBS skyscraper at 51 West 52nd Street. (Bloomberg)

Sam Chang faces a $2 million lawsuit tied to hotel union drama… Two months after the cleaning workers at his Club Quarters Wall Street hotel voted to join the New York Hotel Trades Council, Chang fired them. (DailyNews)

NYC to require ‘bird-friendly’ glass and other materials for new construction. (NYPost)

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