One of the most prominent bank buildings in Downtown Santa Rosa was sold last week by a Bay Area family to New York based Caspi Development Co. for $9,726,000. Located at the corner of Third Street and Santa Rosa Ave., the home of Bank of America has been a fixture in the Downtown core and …
Continue reading “Downtown Bank of America Building Sells to New York Developer”
Hana Financial Investment Co. Ltd. has underwritten a luxury hotel development in New York with a $145 million loan, saving the project from bankruptcy, as South Korean brokerage firms are venturing into value-add and opportunistic real estate projects beyond overpriced properties. The loan for the 96-room hotel development at 456 Greenwich Street in Tribeca consists …
Continue reading “Hana Fin underwrites $145 mn loan on stalled NY hotel project”
Two $350M leasehold loans were tied for top spot The top 10 Manhattan loans recorded in November totaled $2.1 billion, a 60 percent drop from October. One building appeared in the top four twice, as the owners of the leasehold on 195 Broadway and the ground underneath it both took out big loans to finance their …
Continue reading “These were the 10 largest Manhattan real estate loans in November”
The Lower Manhattan neighborhood comes full sophisticated circle. Tribeca, long one of Manhattan’s priciest enclaves, has returned to its roots as a haven for artists—though this time with deeper pockets. To the north in Chelsea, ground zero for the New York gallery scene, the High Line and the nearby $25 billion Hudson Yards development have sent rents skyrocketing, prompting some of …
Continue reading “Tribeca Is New York’s Next Big Creative Neighborhood”
Reorganization sees Caspi Development take the reins from Mactaggart Family & PartnersAfter years of headaches, the long-delayed luxury hotel project at 456 Greenwich Street has finally secured a construction loan and is emerging from bankruptcy. The partnership entity, CBCS Washington Street LP, received confirmation for a reorganization plan in bankruptcy court earlier this week, court filings …
The Williamsburg concept is Winterman’s first outside of a restaurant group. Williamsburg is already known for its impressive restaurant roster—home to the iconic Peter Lugar Steakhouse on Broadway Street, Missy Robbins’ ever-buzzy Lilia (plus Misi, too, in South Williamsburg), and Egg, one of our great restaurants to work for. So it should come as no …
Continue reading “Bâtard’s John Winterman and Chef Chris Cipollone to Bring a Brasserie to Brooklyn”
Tacombi, the purveyor of homestyle Mexican food, will be opening its first branch in the Financial District in the newly renovated 74 Broad Street, according to JLL, which brokered the deal for the landlord. Tacombi signed a lease to operate a restaurant and bar across 3,000 square feet of ground floor retail space, according to JLL’s Brett Harvey. “We …
Continue reading “Tacombi Plans a Financial District Outpost at 74 Broad Street”
A California company picked up an industrial property in Maspeth, and Meyer Orbach sold once again in the Upper West Side. Here are the details on last week’s $20 million to $30 million investment sales market in New York City, per documents recorded with the New York City Department of Finance. 1.) Terreno Realty Corporation …
Continue reading “Here’s what the $20M-$30M NYC investment sales market looked like last week”
In Chicago, chef Brendan Sodikoff is total restaurant royalty, with an impressively varied roster, under his Hogsalt Hospitality umbrella, that includes places like Gilt Bar, Bevette’s Steak House, the food hall-esque 3 Greens Market, Doughnut Vault, and the absurdly popular Au Cheval, where you can expect to wait up to two hours to eat one …
Continue reading “Is Au Cheval’s Burger Really The Best In America?”
The new diner comes with an outpost of Sawada Coffee, known for its painstakingly crafted drinks It’s a good time to be a burger fiend in NYC: Next week Tribeca welcomes its own location of Au Cheval, a wildly popular Chicago diner whose burger has risen to national acclaim. Opening Tuesday at 33 Cortlandt Alley, …
Continue reading “Famed Chicago Burger Joint Au Cheval Lands in Tribeca Next Week”
According to an employment report released by ADP, 230,000 non-farm private sector jobs were added in the US in September. In New York City the number of employed New Yorkers hit a new high of 4,049,200 according to the last quarterly analysis by city comptroller Scott Stringer. Despite this positive benchmark for the city, only …
Continue reading “As investors jostle for top talent, it’s good news for boutique office investment”
UPDATE, Tuesday September 4, 1:41 p.m.: Caspi Development and its partners sold two Bowery office buildings to national developer and landlord Marx Realty for a combined total of $48.5 million. The properties are located one block away from one another at 135 and 161 Bowery on the Lower East Side and were owned by a …
A commercial building at 134-136 Broadway in Williamsburg, Brooklyn, sold for $18.85 million.Credit Michael Sherman RECENT SALE $18.85 MILLION 134-136 Broadway (at Bedford Avenue) Williamsburg, Brooklyn A development partnership, which is also working on a new luxury hotel going up at 456 Greenwich Street in TriBeCa, plans to renovate this six-story corner commercial building. The …
Continue reading “Recent Commercial Real Estate Transactions”
Ultra-Luxury Brand in Premier Lower Manhattan Neighborhood Planned as Long-Term Core Hospitality Holding NEWPORT BEACH, Calif., May 25, 2018 (GLOBE NEWSWIRE) — DPW Holdings, Inc. (NYSE: DPW) (“DPW” or the “Company“), a diversified holding company, will acquire a minority interest in a partnership that intends to construct a five-star ultra-luxury Manhattan hotel development, investing alongside …
Continue reading “DPW Holdings Acquires Ownership in Legendary European Hotel’s American Debut”
Caspi Development and MacTaggart Family & Partners LP have purchased a 23,064 s/f corner Williamsburg office building in deal brokered by Michael Sherman of The Manhattes Group. The buyers intend to turn the property into a boutique office building for high tech and creative office tenants. MICHAEL SHERMAN Originally built in 1901 for the Nassau …
Continue reading “Caspi planning boutique Williamsburg office development”
The partnership, including Caspi Development, Mactaggart Family & Partners and Barone Management, expects to deliver the 96-key Manhattan property in 2020. by Gail Kalinoski | Dec 28, 2017 Left to right: Joshua Caspi, principal of Caspi Development; Scott Barone, founder of Barone Management; and Ivaylo Ninov, managing director of Mactaggart Family & Partners The developers of an …
It’s been more than two years since we’ve heard any news about 456 Greenwich Street, a large eight-story hotel development that’s been inactive since the extant structures were demolished. The silence was broken Friday, December 22nd, when Caspi Development, Mactaggart Family & Partners, and Barone Management celebrated the official groundbreaking in Tribeca. Approved design for …
Continue reading “New Hotel at 456 Greenwich Street in Tribeca Officially Breaks Ground”
From small-scale studios to prebuilts, property owners look to appeal to a shifting ‘small-user paradigm’ By Rey Mashayekhi November 1, 2017 9:45 am In the New York City office market, the big deals get all the attention. Landlords usually covet major six-figure-square-footage users who can lock down large blocks of space at their buildings, bringing with …
What started as a glimmer of hope back in May is now official: New York City is getting an outpost of Au Cheval, the Chicago diner with a perennial hours-long wait and one of America’s most critically acclaimed burgers. When owner Brendan Sodikoff first showed interest months ago in the space (79 Walker Street, in …
Continue reading “Chicago’s Renowned Au Cheval Will Open in New York City Next Year”
Manhattan’s investment sales market had a rough first half of the year In New York real estate, late July is traditionally a time for reflection. Brokerages churn out their mid-year market reports, while executives chopper off to the Hamptons to lie on the beach and fondly recall their best deal-making moments. But in 2017, there …
79 Walker Street New York, NY 10013 Key Features of Connectivity WiredScore wiredscore.com •Stealth Communications is providing dedicated, business grade fiber optic internet connectivity available for tenants. •Towerstreamhas confirmed that they will be able to provide fixed wireless internet access to tenants in the building with a signed contract. Fixed wireless is a form of …
Continue reading “79 Walker Street Becomes Wired Certified Silver”
135 Bowery New York, NY 10002 Key Features of Connectivity WiredScore wiredscore.com FACT SHEET •Pre-installed fiber optics via Stealth Communications providing tenants with high speed, dedicated internet service. •Protected access to the exterior street infrastructure ensuring that tenants can seamlessly order internet service from multiple high speed fiber optic service providers. •Fixed Wireless “over the …
Continue reading “135 Bowery Street Becomes Wired Certified Silver”
Au Cheval’s burger is considered one of the best in the world Looks like hip Chicago restaurateur Brendan Sodikoff might be opening his best-known restaurant and acclaimed burger destination Au Cheval in Tribeca. At tonight’s Community Board 1 meeting, Sodikoff’s team pitched a New York location of the restaurant for a space at 79 Walker …
Continue reading “Hit Chicago Diner Au Cheval Eyes Tribeca for NYC Location”
The most intriguing item on Community Board 1’s May agendas—annotated rundown to follow—is a proposed restaurant in the micro-neighborhood of ChiBeCa, long a restaurant dead zone. It’s at 79 Walker (at the southeast corner of Cortlandt Alley), formerly the site of the Art in General gallery. The building was bought in October by Caspi Development …
The saga of 135 Bowery is entering its next chapter. Already established as a tech incubator of sorts in the year-and-change since Caspi Development took control, the ground level of this former flashpoint property had remained bereft of permanent occupancy. Aside from a handful of pop-up establishments (e.g. Nike), it remained largely dormant with perennial …
Continue reading “East Village Noodle Bar Owner Opening ‘Tang Hotpot’ at 135 Bowery”
Breather, a provider of on-demand, flexible workspace, continues to expand throughout New York City offering meeting spaces to the TAMI sector and corporate users. The company opened two new locations in New York City at 135 Bowery, its 100th location, as well as 576 Fifth Avenue. Breather has set up four flexible meeting spaces at …
Here’s what the $10M-$20M NYC investment sales market looked like last week Caspi buys a Tribeca commercial property; TF Cornerstone nabs Gap, FedEx buildings in Astoria October 24, 2016 04:19PM By Kyna Doles 79 Walker Street in Tribeca, Joshua Caspi and rendering of Compass Residences in the Bronx 1.) Westchester-based developer Caspi Development and RWN …
A building with a controversial past has become the newest New York location for Breather, a startup that provides on-demand meeting rooms in 10 cities worldwide. Last night, there was a celebration on the fifth floor of 135 Bowery, where Breather has set up four flexible spaces that can be rented by the hour. It’s …
Continue reading “Breather Launches On-Demand Workspace Concept at 135 Bowery”
The burgeoning Bowery incubator will soon welcome a quirky new gym. As previously reported, Caspi Development is single-handedly seeking to create a Bowery tech sector with 135 and 161 Bowery. Both properties were converted into luxury offices for start-up tenants like Kik Interactive. Now the latter property is adding a boutique gym to its ranks. …
Continue reading “Mark Fisher Fitness Opening ‘Ninja’ Clubhouse at 161 Bowery”
When Daniel Sanborn began mapping towns 150 years ago, no one could have foreseen how his maps would continue to be used today. Nor could anyone have foreseen how the company’s headquarters that opened in Pelham in 1907 would be adapted to modern uses. Sanborn made fire insurance maps. They seem ordinary at first glance …
Continue reading “Daniel Sanborn’s legacy lives on in historic Pelham building”
