The following is a selection of media placements for Great Ink clients and a summary of each.
Client
ABS Partners Real Estate
Date
April 1, 2020
Former Eastern Consolidated Founders Get $30M From M&T on Upper Manhattan Resi Portfolio
By Mack Burke
summary
Former Eastern Consolidated founders Daun Paris and Peter Hauspurg have nabbed $29.8 million in Freddie Mac-backed debt from M&T Realty Capital Corporation, a real estate lending subsidiary of M&T Bank, to finance a three-building multi-housing portfolio in Upper Manhattan, Commercial Observer has learned. John Leslie and Patrick Rhea — both former brokers at Eastern Consolidated — of debt and equity advisory firm ABS Altman Warwick arranged the transaction on behalf of the borrowing party. The three assets in the collection are located at 401 Edgecombe Avenue in Hamilton Heights and at 940 Saint Nicholas Avenue and 3612 Broadway in Washington Heights. Together, they make up 183 units.
Client
Stuart Saft, Castle Lanterra Properties
Date
April 1, 2020
Apartment Owners Facing Revenue Squeeze
summary
Stuart Saft, who chairs the real estate practice at Holland & Knight and Elie Rieder, chief executive at castle Lanterra Properties, weigh in on the state of the multifamily market and whether or not tenants will be able to pay rent as we reach April 1. The article talks about the inability of renters — mostly in workforce housing — to pay rent this month, leading many owners unable to ake their own payments. Additionally, many scheduled multifamily transactions have been canceled, postponed or repriced.
Client
Avison Young
Date
March 27, 2020
Tribeca Building That Houses Shinola Flagship Sells for $17M
By Nicholas Rizzi
summary
An Avison Young team represented Bedrock Real Estate Partners in its sale of 177 Franklin Street in New York City to a private investor. The seven-story office building houses luxury retailer Shinola’s flagship NYC store and sold for $16.75 million. Avison Young’s James Nelson represented Bedrock in the sale along with Charles Kingsley, Eric Karmitz, David Lawrence and Carter Lovejoy.
Client
RAL Companies & Affiliates
Date
March 19, 2020
Transportation, Mixed-Use, Tech Lead Top Starts in New York, New Jersey
By D.G. McCollough
summary
ENR New York’s Top Starts list includes the 60 largest regional projects to break ground in 2019, compiled mostly from Dodge Analytics data. For ease of comparison, the total project cost of the 40 highest-ranking projects was $16.22 billion. That’s an 11.5% increase from the $14.5-billion total for the top 40 starts in 2018. These projects, along with Zero Irving¬—also called the Union Square Tech Hub and worth $200 million, including a $120 million loan—contribute to hopes that New York and New Jersey will become a tech and life sciences hub. Joshua Wein, managing director of finance at RAL Cos., the developer of Zero Irving, says he believes spaces for tech companies and R&D centers will become a bigger construction trend for the region.
Client
Barone Management
Date
By Liz Young
Coronavirus impacting New York City projects under construction
March 18, 2020
summary
Scott Barone, founder and principal of Barone Management, a property construction and development firm in NYC, talks with the New York Business Journal about the Coronavirus and how it is beginning to impact construction sites. Barone expects during the ongoing pandemic, the same workforce challenges are going to hit supply.
Client
Marx Realty
Date
March 16, 2020
Marx’s Realty 10 Grand Central Nears Full-Building Occupancy
By Mariah Brown
summary
Marx Realty has signed 184,000 square feet of new leases at 10 Grand Central. Since the building’s $48 million repositioning in mid-2018, the 36-story office tower’s occupancy increased from 78 to 95%. Investment management firm Rubric Capital signed a 5,800-square-foot, seven-year lease on the 16th floor at 10 Grand Central, securing the last of the Marx Realty’s upscale pre-built suites at the property. Cushman & Wakefield representedRubric Capital for its new rental space.
Client
Marx Realty
Date
March 10, 2020
Hedge Fund Snags Last Pre-built at 10 Grand Central
summary
Rubric Capital, an investment management firm, signed a 5,800-SF lease at Marx Realty’s 10 Grand Central, securing the last of the pre-built suites at the building. Ownership is starting to attract companies to fill 25,000-SF of its Penthouse Collection on the 32nd-36th floors. Marx Realty has signed 184,000 square feet of new leases since announcing the building’s repositioning in mid-2018. Occupancy has increased from 78% to 95%. JLL’s Cynthia Wasserberger, Sam Seiler, David Kleiner and Carlee Palmer are handling the leasing for Marx Realty. Rubric Capital was represented by Cushman & Wakefield.
Client
The Praedium Group
Date
March 9, 2020
Value-add Supply to Surge
summary
Crittenden’s bi-monthly Apartment Report delivers thorough updates on the multifamily market from developers, buyers, investors and management firms. The article mentions Castle Lanterra Properties and the firm’s plans for 2020.
Client
EW Howell Construction Group
Date
March 5, 2020
Support Network
By Anne DiNardo
summary
The March 2020 issue of Healthcare Design features several cancer care projects around the country that are supporting patients, staff and family members as they work to heal. As cancer care progresses to provide more comprehensive services under one roof, facilities are rethinking their layouts and treatment spaces to streamline diagnosis and treatment services while offering patients more choice in how they receive care. Abundant daylight, views of the outdoors, and natural materials are being used to infuse these spaces with warmth and calm. EW Howell Construction Group was the GC for the Phillips Family Cancer Center, part of the Stony Brook University Cancer Center in Southampton, which is included in the article.