Wednesday, October 1, 2008

Newsworthy in...

New York

BBO Seidman L.L.P. leased space at 100 Park Ave. office tower in Midtown Manhattan. Howard Ecker & Co. represented BDO Seidman. Paul Glickman, Tara Stacom, Mitti Liebersohn, Alexander Chudnoff, Diana Biasotti and Jonathan Tootell all of Cushman & Wakefield Inc. in New York represented the owner, SL Green Realty Corp. Source: CPN

Paramount Group Inc. of New York closed on the $1.5 billion purchase of a 45-story office tower in Midtown Manhattan. Eastdil Secured L.L.C. also of New York represented the seller. Source: CPN

General Growth Properties Inc. plans to redevelop South Street Seaport in Lower Manhattan. The project plans include a 42-story residential, hotel and retail building. Source: CPN

The Museum of Art and Design has recently opened its new home in Manhattan. Brad Cloepfil, AIA, a principal of Allied Works Architecture in Portland, OR, designed the 10-story facility, significantly altering the original building exterior. Commenting on the fate of the original building were Kate Wood, executive director of Landmark West, a local preservation group and Ada Louise Huxtable, former architecture critic of The New York Times. Holly Hotchner is the museum’s executive director. Source: Architectural Record

New York City’s Willets Point redevelopment plan was approved with moderations at a City Planning Commission meeting. The redevelopment will turn a largely industrial, 13-block area into 5,500 apartment units and more than 1.5 million square feet of commercial space. Pat Boone, president of ACORN NY, is one of many who disapproves of the project. MA Realty, which owns 44,500 sf of industrial land in Willets Point, agreed to have New York City Economic Development Corp. acquire its property. Source Globe

Four groups submitted bids to acquire Starrett City in Brooklyn, although two of them had been rejected earlier this week by the Department of Housing and Urban Development. One of the HUD-approved bidders for the complex consists of a consortium of Citigroup Inc., Westbrook Partners, the Central Labor Council, the Metropolitan Council on Jewish Poverty and Provident Resources Group. The second is led by The Cogsville Group, which has joined with The Christian Cultural Center, The Housing Partnership Development Corp., and The Clarett Group. The 46-tower Starrett City complex is the nation’s largest affordable housing development. Source: Crain's New York Business


Steiner + Associates began Phase Two of a $250 million mixed-use center in Beavercreek. David Zoba is principal and COO at Steiner. Source: Globe

Centro Properties Group announced its $15 million redevelopment of South Towne Centre, a retail center in Dayton. Christmas Tree Shops, Burlington Coat Factory, Jo-Ann Fabrics & Crafts, PetSmart, Value City Furniture andd Fifth Third Bank are among the new businesses in the center. Source: RE Business Online

The Home Depot Inc. of Atlanta has signed two build-to-suit lease agreements with Denver-based ProLogis for regional distribution centers in Redlands, CA and Monroe, OH. Each facility will total approximately 658,000 sf. Larry Harmsen is ProLogis’ managing director and North American head of capital deployment. Source: Globe

Hill International, a construction manager in Marlton, N.J., has created Hill International Real Estate Partners L.P., a real estate development services firm that will serve the commercial and hospitality industries across the Mid-Atlantic and Northeast. The firm has acquired interests in the 2.2 million-square-foot American Commerce Center project in Philadelphia designed by the architectural firm Kohn Pederson Fox. The project will be the tallest skyscraper in Philadelphia. Source: CPN

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