Blackstone buys Howard Hughes Center from Hines in $1.2B liquidation sale

Blackstone buys Howard Hughes Center from Hines in $1.2B liquidation sale The seven property portfolio totals 3 million sf June 30, 2016 03:00PM Howard Hughes building and Hines REIT Chief Executive Officer Sherri Schugart A Blackstone affiliate has purchased seven commercial properties from Hines Real Estate Investment Trust for $1.16 billion, including the Howard Hughes […]

Thou shalt not default

Thou shalt not default Westfield sues True Religion for backing out of lease at WTC mall June 30, 2016 06:00PMBy Rich Bockmann A rendering of the Oculus at the Westfield World Trade Center The landlord at the World Trade Center Mall, the altar to consumerism clad in Santiago Calatrava’s white marble, is accusing one of […]

Slate, Adam America buy Park Slope site with plans for rentals

Slate, Adam America buy Park Slope site with plans for rentals Developers pay $25M for eight townhouses on Fourth Avenue June 30, 2016 05:40PMBy Mark Maurer From left: Slate’s Martin Nussbaum and David Schwartz (credit: Tobias Truvillion), and 541 Fourth Avenue in Park Slope (credit: Google Maps) Slate Property Group and Adam America Real Estate […]

VIDEO: Feast your eyes on the Sony Building’s once-planned condos

VIDEO: Feast your eyes on the Sony Building’s once-planned condos See the glorious Robert A.M. Stern-designed interiors that could have been… June 30, 2016 04:27PMBy Alistair Gardiner [embedded content] Before 550 Madison Avenue was sold to Olayan America, a division of Saudi conglomerate Olayan Group, the Chetrit Group and David Bistricer’s Clipper Equity had serious plans for […]

DOB to roll out electronic filing

DOB to roll out electronic filing New computer system costs $30M June 30, 2016 03:37PM DOB Commissioner Rick Chandler The New York City Department of Buildings will roll out a $29.7 million computer system at the end of the month to ultimately replace paper-based filing. Under the current system, the department largely processes job filings, […]

Trump Institute faces accusations of misleading customers

Trump Institute faces accusations of misleading customers Seminar business oversold the Donald’s involvement: report June 29, 2016 06:48PM The cover of a Trump Institute textbook Trump Institute, a little-known seminar business with ties to Donald Trump, is facing accusations of misleading its customers, the New York Times reported.  The allegations come as the developer and […]