Thursday, December 24, 2015
Business as Usual Links:
Festive on 10th
SL Green, Bank of China loan for Industry City grows to $403M (The Real Deal)
The Bank of China and SL Green increased their loan for the massive Sunset Park complex Industry City to $403 million, up from $220 million, as part of the owners’ planned makeover.
... Jamestown and Angelo teamed up with Belvedere Capital and Schron’s Cammeby’s International for a redevelopment of the complex aimed at creative, manufacturing and TAMI tenants. The $1 billion overhaul is largely contingent on the city providing funding and approving a rezoning.
Developers close deal that allows Brooklyn's tallest tower (Crain's)
Bob Knakal, Cushman & Wakefield's chairman of investment sales, along with colleagues James Nelson and Stephen Palmese, handled the sale for JPMorgan Chase. >
"This transaction is indicative of the strength of both the retail and development markets in Brooklyn," Knakal said. "It paves the way for an iconic structure that will forever impact the Brooklyn skyline."
Industry real estate players celebrates their fabulous year:
More than 1,000 people gathered at the Top of the Standard + Le Bain for an evening of nibbles, cocktails and showboating. Variations of “it’s unreal how much business we did this year,” were heard throughout the party, which stretched well past midnight as guests, taking advantage of the unusually warm December evening, moved upstairs to puff on cigars and smoke hookahs with the hosts, Josh Zegen, Brian Shatz and Adam Tantleff. (The Real Deal)