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Large financial service companies are beginning to hunt for new offices, in anticipation of their lease expirations. Firms occupying hundreds of thousands of square feet often need several years to find new office space and to move. Leading asset management firm, Alliance Bernstein, will see its lease expire in 2024. According to the Wall Street Journal, the company has already begun scouting for space to replace its current 600,000-square-foot lease at 1345 Sixth Avenue. Prospective buildings include the towers in Hudson Yards, 1271 Sixth Avenue and 4 Times Square. HSBC’s lease will be up in 2020 for its 452 Fifth Avenue location. They are actively eyeing available office space. Wells Fargo Securities, BlackRock, and the global private
The 47th Real Estate and Construction Industries Dinner Dance was held at the Hyatt hotel on Saturday December 10, 2016 with cocktails beginning at 6:30 PM. The night which was referred to as “A Winter’s Evening” certainly was-with temperatures reaching into the low 20’s. The event raised funds for the world-class research and compassionate patient care at National Jewish Health, the largest respiratory hospital in the nation.
National Jewish Health is an academic
The Williamsburg section of Brooklyn has been steadily gentrifying over the last decade. The city has been working on bringing life back into the dilapidated waterfront along the East River and creating a beautiful park for the locals. Last week, officials announced that the city finally made a deal to purchase the last 11-acre parcel needed complete Bushwick Inlet Park for $160 million.
The property is owned by CitiStorage. In early 2015, one of two giant warehouses that the storage
Throughout his lifetime, Mr. Harry Silverstein accumulated hundreds of rentals apartments in the three boroughs of Brooklyn, Queens and the Bronx. Numerous properties in his portfolio date back to the 1960s. Now, shortly after his passing, his valuable acquisitions may be sold by his son Mr. Eric Silverstein. A&E Real Estate Holdings, one of the most aggressive buyers of multifamily properties, is interested. As reported by the Real Deal, A&E is in talks to pay $275 million to the
On Thursday November 10, Governor Andrew Cuomo reached a deal between the Real Estate Board of New York and the 100,000 members of the Building and Construction Trades Council of Greater New York to revive the 421-a property tax break. In June 2015, the previous 421-a plan, giving developers a tax break in return for setting aside affordable housing units, expired. The negotiations between developers and unions took more than a year. Cuomo attached a required standard wage for construction