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Real Estate Roundup 3.20.20

475 Park Avenue South (Credit: TRD)

Real Estate Roundup:

  • New York City is working with the hospitality industry to possibly convert entire hotels into hospitals for patients without the novel coronavirus, in an effort to increase capacity at medical facilities as the outbreak grows. (WSJ)

Deal news 

  • Mind Gym inks 16,125 square-feet sublease on the entire second floor of Cohen Brothers Realty’s 475 Park Avenue South. (CO)
  • United Hoisting Company + JNY Capital are teaming up to bring a roughly 400,000-square-foot commercial project to Long Island City at 38-42 12th Street. (TRD)
  • Finkelstein Timberger East Real Estate (FTERE) has closed on a $63.8 million loan from Morgan Stanley to finance eight multifamily properties in the Bronx. The 10-year, interest-only loan has a fixed rate of 4 percent. (CO) 

Other news 

  • CBS pulled its Black Rock tower building off the market, which had been aiming for a price north of $1 billion. (TRD)

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