With $400 million in financing secured from Bank of America and a Middle East wealth fund, Related is ready to break ground on the first commercial office tower at its 300-acre Hudson Yards project, which will be home to Coach and seek a LEED Platinum rating from USGBC.
Archive | Finance
Despite Uncertain Markets, Hines Secures Construction Financing for 7 Bryant Park
By Stephen Del Percio on June 15, 2012 in 7 Bryant Park, Bryant Park, Finance, Manhattan, Market Analysis, New York City, Transactions
Houston-based Hines has secured construction financing that will allow it to proceed with 7 Bryant Park, a 28-story LEED-hopeful trophy office tower in Midtown.
Plans to Launch Empire State Building-Backed REIT Challenged in New York County Supreme Court
A lawsuit challenging Malkin Holdings’ plans to launch a publicly traded REIT could impact its efforts to implement advanced building technologies across a broader range of New York City commercial office buildings.
With Federal Funds, Texas-Based ESCO Retrofitting First Commercial Building in New York City
During a 10-year contract, a Texas-based energy service company will deliver a free $1.4 million energy-efficient retrofit at 125 Maiden Lane in the Financial District in exchange for the energy savings that the improvements deliver.
Malkin Holdings to Launch, Acquire New Properties Through, Empire Realty Trust REIT
By Stephen Del Percio on February 14, 2012 in Asset Valuation, Empire State Building, Finance, New York City, Transactions
Malkin Holdings could soon capitalize on investors’ appetite for a slice of New York City commercial real estate after recently announcing plans for a publicly traded REIT called Empire Realty Trust.
After $50M Acquisition, Joint Venture to Pursue LEED Label for 200 Lafayette Street in SoHo
By Stephen Del Percio on February 8, 2012 in 200 Lafayette Street, Finance, Historic Preservation, LEED-EB, Manhattan, New York City, Sales, SoHo, Transactions
The Kushner Companies and Los Angeles-based CIM Group recently closed on the $50 million acquisition of 200 Lafayette Street and will reposition the historic 7-story property as a Class A, LEED-certified SoHo office building.
Oregon Building’s Green Features & LEED Certification Play Role in Property Tax Appeal
Ownership’s dispute of the assessed market value of the Elements Building in Corvallis has resulted in a written opinion from the Oregon Tax Court involving the building’s green design features.
New York City Buildings to Open Doors for Green Tech Startups
Until June 30, New York City will be accepting applications from startup companies interested in testing innovative new green building products in city-owned buildings.
20 Times Square: Chinese Financing Could Raise LEED Gold Above World’s Fifth Ugliest Building
By Stephen Del Percio on March 27, 2011 in 20 Times Square, Finance, LEED-CS, Manhattan, New York City, Times Square
Vornado may be close to closing on financing from a Chinese investor for its planned 42-story, Richard Rogers-designed, LEED-CS Gold office tower above the Port Authority Bus Terminal.
Country’s First Green Energy REIT Launches in New York City
A new Manhattan-based REIT is the first in the country to invest exclusively in real estate used for the generation or transmission of electricity produced by alternative energy sources.
