GEMS committed to UES school project despite “hemorrhaging cash”: Merchants

GEMS committed to UES school project despite “hemorrhaging cash”: Merchants Developer files amended complaint in ongoing dispute over botched deal July 08, 2016 07:12PMBy Mark Maurer From left: Abraham Merchant, Denise Gallucci and GEMS World Academy in Chicago A subsidiary of Dubai schools operator GEMS Education masked its frail financial status upon signing a lease […]

Westport Capital Partners sells half-complete creative office buildings for $25.3M

Westport Capital Partners sells half-complete creative office buildings for $25.3M Buyer, attorney Charles Kenworthy, could convert then to condos, broker says July 08, 2016 04:00PMBy Cathaleen Chen Rendering of 400 Duley Road (credit: Sentinel Development) The investment firm Westport Capital Partners recently unloaded an El Segundo office complex for $25.3 million — before construction was completed. […]

32BJ buys commercial condos at Chelsea HQ from RXR for $144M

32BJ buys commercial condos at Chelsea HQ from RXR for $144M Union currently occupies 243K sf in building July 08, 2016 06:31PMBy Rich Bockmann 620 Sixth Avenue Property-service union 32BJ SEIU bought four commercial condos from landlord RXR Realty at its Midtown South headquarters for $144 million. The 120,000-member union, which is based in New […]

Onward Capital plans $60M 190-unit residential complex on Reseda Boulevard

Onward Capital plans $60M 190-unit residential complex on Reseda Boulevard Firm purchased the 1.4-acre site for $6M July 08, 2016 03:00PMBy Cathaleen Chen 6650 Reseda Boulevard and Apex agents Luc Hawkshaw and Eric Mandell (credit: CoStar, Hawkshaw) Onward Capital is the new owner of a 1.4-acre lot in Reseda and will develop it into a 190-unit […]

PMG, Hakim Organization look to sell massive clock tower development site in LIC

PMG, Hakim Organization look to sell massive clock tower development site in LIC Partners paid $133 million to assemble 1M sf plot at 29-37 41st Avenue July 08, 2016 05:40PMBy Rich Bockmann Renderings of Queens Plaza Park at 29-37 41st Avenue and Kevin Maloney Kevin Maloney’s Property Markets Group and the Hakim Organization are looking to […]

Kushner pushed for hit piece on Richard Mack after two clashed over 666 Fifth deal: sources

Kushner pushed for hit piece on Richard Mack after two clashed over 666 Fifth deal: sources Developer and Observer publisher pressed his reporters to pursue “Big Dick Mack” story July 08, 2016 05:20PMBy Katherine Clarke Jared Kushner, Elizabeth Spiers and Richard Mack Jared Kushner strong-armed his reporters into pursuing a controversial story about fellow real […]

Jeff Hyland on why his firm refused to report figures for REAL Trends agent ranking

Jeff Hyland on why his firm refused to report figures for REAL Trends agent ranking Co-founder referenced what he considered ‘blatant discrepancies’ in data July 07, 2016 04:07PMBy Katherine Clarke Jeff Hyland and the REAL Trends rankings Eagle eyed L.A. industry insiders scouring this week’s hotly anticipated broker ranking by data firm REAL Trends, published […]

Gabriel Gold plans 45-unit apartment complex in Koreatown

Gabriel Gold plans 45-unit apartment complex in Koreatown His Saviers Melrose LLC wants to build mixed-use development July 07, 2016 02:00PMBy Cathaleen Chen The property at 4914 – 4920 West Melrose Avenue Koreatown may be getting yet another apartment complex. Private property owner Gabriel Gold and his LLC, Savier Melrose, are planning a 45-unit mixed-use apartment […]