RealEstateFlux

1372 Broadway’s Fall Reveals State of NYC Office

The New York Times | Terry Pristin | July 23, 2008 For several years, it seemed that prices for Manhattan office buildings would never stop climbing. But now, in perhaps the clearest demonstration so far of how commercial real estate values have deteriorated in the last year, 1372 Broadway, a 21-story brick building in the garment [...]

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Wachovia Unloads New York Office Asset at 14% Discount

Source: Bloomberg A joint venture led by Wachovia Corp. agreed to sell a 21-story office building in midtown Manhattan’s garment district at a $41 million loss, people with knowledge of the decision said according to Bloomberg.  Wachovia, owner of 85 percent of 1372 Broadway, and minority owner SL Green Realty Corp. agreed to sell the [...]

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SL Green Aqueduct Bid Wins Support

Sources: CPN | Globe St. Several of New York’s major labor unions have endorsed SL Green Realty Corp.’s proposal to revitalize the Aqueduct Racetrack in Queens reports CPN. Unions supporting SL Green’s bid include: • The Building & Construction Trades Council of Greater New York • The New York Hotel and Motel Trades Council • Local 32BJ of the [...]

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