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Sandro Rosell
FC Barcelona President
Thursday, June 29, 2017

Real Estate

Rose Associates is selling the condominium and co-op management wing of its business to Terra Holdings, the parent company of brokerages Brown Harris Stevens and Halstead Property, reports The Real Deal.

According to The Real Deal, the decision to sell comes just as the firm looks to raise $300 million in equity for a multifamily acquisition fund.

Rose Associates co-president Adam Rose, said the management part of the company represents about 15 percent of his development company’s total business, but the price of the sale has not yet been disclosed, reports The Real Deal.

The management section includes operations of 8,250 units across 35 buildings in New York, such as One Beacon Court and the Aldyn at 60 Riverside Boulevard, says The

According to The Real Deal, Gary Barnett’s Extell Development is finalizing a $900 million construction loan for his proposed Central Park tower which would allow Barnett to proceed with building.

The ultra-luxury condominium tower at 217 West 57th Street, which is the priciest residential project in New York City history with a $4 billion sellout, would be one of the largest condo construction loans of this cycle, reports The Real Deal.

Extell signed a term sheet this week with a group of

Unwavering after his political demise, former governor Eliot Spitzer is back in the news again. The democrat formerly served as NY governor for fourteen months from the beginning of 2007 until March 2008. Before that he was positioned as NY’s Attorney General from 1999 till 2006. The Princeton and Harvard Graduate, who is known for having aced his SATs and LSATs, is the son of Bernard Spitzer, the real estate mogul.  Upon his 2008 resignation, he returned to his roots, investing in a real

As Forest City Realty Trust sells its entertainment and retail assets, it is also letting 50 employees go.

On Thursday, June 22, in a letter to employees, CEO David LaRue wrote, “We have to make extremely tough choices. This was a very difficult, but ultimately necessary step as we work to ensure our organization is sized to meet the needs of our portfolio and pipeline, now and in the future.”

Approximately 2,000 people are employed by the Cleveland-based parent company of the development

Himmel Meringoff Properties is expanding its Long Island City office portfolio. The firm has acquired a six-story, 127,000-square-foot office and warehouse building at 21-07 41st Avenue in Queens. As reported by Crain’s NY, the purchase price agreed upon was $25 million. Most of the building is already filled, but the firm is still looking to lease out the 11,000 square feet of retail space on the ground floor. Leslie Himmel, co-managing partner at Himmel & Meringoff, said she hopes the