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Sandro Rosell
FC Barcelona President
Wednesday, October 18, 2017

Real Estate

The most expensive office development in the NYC’s history has found a ready willing and able investor. On Friday September 1st, Japanese developer Mitsui Fudosan said it would be taking on a 90 percent stake in 50 Hudson Yards. The investment will cost Mitsui Fudosan, a subsidiary of Tokyo-based Mitsui Group, over 400 billion yen or $3.6 billion, making it the company’s largest investment in any single overseas building. 

The 58-story tower, will cost $4 billion, and is slated for completion in 2022. The Hudson Yards office and retail complex will be one of the largest standalone office properties in the rapidly-growing area. Developed by Related and Oxford Properties Group, the tower will boast 2.79 million square feet of retail and

Following months of deliberation, Pfizer, one of the world’s largest drug companies, has decided that it will move its downtown office to Hudson Yards. Pfizer will be the anchor to Tishman Speyer’s new office tower, the Spiral. The deal, which has not yet been signed, will empower Tishman Speyer to begin construction on the colossal $3.2 billion project. According to the NY Post, the pharmaceutical giant will occupy 800,000 square feet at the Spiral. 

The projected 65-story development, at 509

Developers Victor Group and Lendlease Development are trying to raise their 130-unit condo under construction at 277 Fifth Avenue at East 30th Street near the Empire State Building, above the surrounding buildings with the hopes of attracting residents with spectacular views. 

According to The New York Times, “In a chess-like series of moves that stretched over several years, these developers stitched together not two or three parcels, as is often the case, but essentially eight different lots

Yet another chapter opens in the ongoing drama around the sale of the Plaza Hotel. The hotel’s current majority owner, Sahara Group, has taken steps to finally sell the property after years of almost selling the hotel but never finalizing any deal, the company has hired a broker to market the iconic building. 

Curbed provides a concise summary of the property’s recent history in an article last week. The paper states, “Let’s revisit how the hotel got here: It’s had many owners over the years

Since 2014 David Shaulian and Yonel Devico have been trying to sell their glorious eight-bedroom home at 114 Lockwood Avenue in Bridgehampton. The 11,000-square foot home sits on about half an acre of land, and despite it having eight full bathrooms, a finished basement, a chef’s kitchen, a pool and spectacular cedar-shingles, the home has not sparked he interest of any serious buyers. 

As the summer nears its end, the couple decided to take $100,000 off the property’s list price this