There’s more investment activity in a Miami-area market that’s seen plenty of it in 2024. This time it’s the $190 million sale of a 276-unit apartment complex in Miami’s Edgewater neighborhood. Also for today: An interview with David Lukes, CEO of retail REIT Curbline Properties..
Commercial Observer
Real Estate
New York, NY 69,819 followers
Connecting and informing industry leaders of trends and individuals defining the global commercial real estate landscape
About us
Commercial Observer is the leading platform to connect and inform commercial real estate professionals — including building owners and managers, brokers, commercial lenders and professional services firms. Our weekly coverage, up-to-the-minute updates on CommercialObserver.com, and events provide an essential mix of breaking news, interviews, features, exclusive industry columnists, and in-depth analyses of market trends.
- Website
-
https://linktr.ee/CommercialObserver
External link for Commercial Observer
- Industry
- Real Estate
- Company size
- 11-50 employees
- Headquarters
- New York, NY
- Type
- Privately Held
- Founded
- 2007
- Specialties
- Commercial Real Estate News
Locations
-
Primary
1 Whitehall Street, Floor 7,
New York, NY 10004, US
Employees at Commercial Observer
Updates
-
Department store Nordstrom is set to go private in an approximately $6.25 billion deal, with members of the Nordstrom family along with Mexican department store chain owner El Puerto de Liverpool acquiring all of the company’s outstanding shares. Read more: https://lnkd.in/eWcRXnHC Pictured: Erik Nordstrom and Pete Nordstrom
-
The Westover Companies, a Pennsylvania-based property management company, has acquired a 13-property multifamily portfolio of 147 units around Chelsea from seller Black Spruce Management for $94.5 million. The sale was handled by Marcus & Millichap brokers Joe Koicim (pictured), Logan Markley, Chris Dintrone and Kory Barbanel. Read more: https://lnkd.in/ezzc9NMh
-
Brooklyn-based Alloy Development has secured a $290 million recapitalization from New York Life for its mixed-use project, The Alloy Block, at 505 State Street in Downtown Brooklyn. The firm has simultaneously secured a $42.5 million construction loan from Maxim Capital Group to complete the second phase of construction. The two-phase development includes New York City’s first all-electric residential tower. Read more: https://lnkd.in/en8Ycdhq Pictured: Jason Bordenick of Maxim Capital Group
-
Kushner Companies has acquired a waterfront multifamily building in Miami’s Edgewater neighborhood for $190 million from Aimco. The 28-story property, called The Hamilton, features 276 units at 555 NE 34th Street. Read more: https://lnkd.in/eqQv49vu Pictured: Laurent Morali, CEO; Nicole Meyer, President at Kushner Companies
-
New York Governor Kathy Hochul (pictured) has announced that a $1.35 billion mixed-use project will be built at Hudson Yards’ Site K, a state-owned vacant lot at 418 11th Avenue adjacent to the Jacob K. Javits Convention Center. Hudson Boulevard Collective, a partnership involving BRP Companies, BXP, Inc., The Moinian Group and Urbane Development, has been selected to develop the project. Read more: https://lnkd.in/eMDZCNpt
-
The Fed has reduced its benchmark interest rate by a quarter point, or 25 basis points, to a range between 4.25 percent and 4.5 percent. The rate cut comes on the heels of another quarter-point drop on Nov. 7 and a half-point cut in September. Read more: https://lnkd.in/eQSpnJyv Pictured: Federal Reserve Chair Jerome Powell
-
Digital commercial real estate financing platform Duckfund for Real Estate Investors has secured a $100 million revolving credit facility from Clear Haven Capital Management, LLC to expand its platform offering loans to sponsors in need of short-term capital. The credit line marks the first for New York-based Duckfund, which was launched in 2022 by private investors and founded by its CEO, Anna Kogan (pictured). Read more: https://lnkd.in/eeAwmwcS
-
A joint venture between Concord Hospitality Enterprises and Panorama Holdings has sealed a $49.5 million loan from New York Life to refinance the Courtyard by Marriott New York World Trade Center Area hotel. Arrow Real Estate Advisors arranged the transaction with a team led by Morris Betesh (pictured), Alex Bailkin and Matt O'Hanlon. Read more: https://lnkd.in/e-fKWRkM
-
Los Angeles-based developer and management firm Cityview has paid $35.5 million for Candela, a 112-unit property at 1950 Tamarind Avenue. The price is $5.2 million less than the $40.7 million that seller Raintree Partners acquired Candela for in 2018. The apartment complex is currently 96 percent occupied. Read more: https://lnkd.in/eDVzGdNv Pictured: Cityview CEO Sean Burton