Photograph of Rockefeller Center, courtesy of Tishman Speyer

Tishman Speyer Secures $3.5B Refinancing for Rockefeller Center In Midtown, Manhattan

7:00 am on October 21, 2024 By Max Gillespie

Tishman Speyer recently secured a $3.5 billion loan to refinance Rockefeller Center in Midtown, Manhattan. The loan is the largest-ever CMBS issued for a single office asset. Bank of America and Wells Fargo co-led the five-year single asset single borrower loan, which carries a fixed interest rate of 6.2265 percent. The funds will be used to pay off an existing $1.7 billion loan and mezzanine financing due in May 2025, as well as cover leasing costs.

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1663 East New York Avenue Tops Out in Brownsville, Brooklyn

8:00 am on October 20, 2024 By Michael Young and Matt Pruznick

Construction has topped out on 1663 East New York Avenue, an eight-story residential building in Brownsville, Brooklyn. Designed by Frank J. Quatela Architects and developed by Like Minded People LLC, the 85-foot-tall structure will span 29,085 square feet and yield 42 rental apartments with an average scope of 692 square feet. The formerly vacant property is located at the corner of East New York and Christopher Avenues.

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Façade Installation Begins on 824 56th Street in Sunset Park, Brooklyn

7:30 am on October 20, 2024 By Michael Young and Matt Pruznick

Construction is progressing on 824 56th Street, a six-story residential building in Sunset Park, Brooklyn. Henry 824 LLC is listed as the owner of the nearly 70-foot-tall, 9,430-square-foot project, which is slated to yield six units, a community facility, a 407-square-foot rooftop, and a cellar level. The property is located on a 2,000-square-foot interior lot between 8th and 9th Avenues.

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Rendering of Jasper. Designed by S9 Architecture

Three New Retail Leases Signed for Jasper at 49-20 5th Street In Long Island City, Queens

7:00 am on October 20, 2024 By Max Gillespie

Three new retail leases were recently signed at Jasper, a mixed-use development located at 49-20 5th Street in Long Island City, Queens. Designed by S9 Architecture and developed by The Domain Companies, LMXD, VOREA Group, and Bridge Investment Group, the structure will span 550,000 square feet and yield 499 residential units and 112 parking spaces. The leases will occupy 6,115 square feet of the building’s 33,340 square feet of retail space.
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