ATCO to buy Garment District office building for $108M

ATCO Properties & Management is in contract to buy RPW Group’s 18-story office Garment District office building for $108 million, or about $655 per square foot, sources told The Real Deal. RPW, a Westchester County-based landlord, put the 165,000-square-foot Class B property at 240-246 West 35th Street on the market in June. The building last […]

Ben Shaoul scores $195M loan for 196 Orchard

Ben Shaoul’s Magnum Real Estate Group secured a $195 million senior construction loan from SL Green Realty for its new Lower East Side condominium project next to Katz’s Deli, sources told The Real Deal. The senior loan for the project at 196 Orchard Street replaces the existing $97 million loan that SL Green provided last […]

Brookfield set to award JLL leasing assignment for Manhattan West retail

Brookfield Property Partners is close to an agreement with JLL awarding the brokerage the leasing assignment for about 250,000 square feet of retail at Manhattan West, sources told The Real Deal. A team of JLL brokers headed by newly minted vice chairman Patrick Smith will take charge at the Far West Side megadevelopment, sources with knowledge […]

CBRE, JLL stocks take a beating after Brexit vote

CBRE and Jones Lang LaSalle’s stock prices plummeted Friday, amid investor fears that Britain’s vote to leave the European could cripple the companies’ European business. As of 2:20 p.m., CBRE’s stock was down 8 percent for the day, while Jones Lang LaSalle’s stock had fallen by 11.9 percent. Green Street Advisors had estimated that property values in […]