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The company said on Wednesday that revenue in the most recent quarter was $81.3 billion, but its share price dropped more than 5 percent in after-hours trading.
A judge rejected a bid by SL Green and RXR to stop a UCC sale tied to Worldwide Plaza, clearing the way for Extell to move ahead with a foreclosure auction. Judge Andrea Masley denied the landlords’ request for a preliminary injunction that would have blocked a UCC foreclosure sale of the mezzanine loan secured by the 49-story office tower at 825 Eighth Avenue, according to a decision issued on Tuesday in state Supreme Court. The dispute pits three of New York’s biggest real estate players against one another: SL Green’s Marc Holliday, RXR’s Scott Rechler and Extell’s Gary Barnett. […]
This article originally appeared on The Real Deal. Click here to read the full story.
One of Manhattan’s life sciences bets has a major biotech firm moving in. Maine-based Jackson Laboratory, a genetics and genomic medical firm, signed a lease for 41,000 square feet at the Hudson Research Center in Hell’s Kitchen, the Commercial Observer reported. The facility at 619 West 14th Street is owned by Elevate Research Properties, a subsidiary of Taconic Partners. The asking rent and length of lease were not disclosed; Icahn School of Medicine at Mount Sinai signed a lease two years ago for 10,000 square feet, when the asking rent was $100 per square foot. That’s slightly below today’s rates. […]
This article originally appeared on The Real Deal. Click here to read the full story.
When Paul Singer’s Elliott Management makes an investment, it usually means a company, or in certain cases, a country, is in really bad shape. The $76 billion hedge fund is best known for its distressed investments in Argentina’s bonds, resulting in a 15-year legal battle and leading the country to default on its debt. It waged war against Procter & Gamble in the early 2000s over their attempt to takeover the German shampoo company Wella. It took control of the Italian soccer club AC Milan after the previous owner defaulted on its debt. But the firm’s most recent buy may […]
This article originally appeared on The Real Deal. Click here to read the full story.
The Federal Reserve held its benchmark rate flat at its first meeting of the year, a widely expected move that comes against the backdrop of an uneasy macroeconomic balance.
The decision ends a three-meeting trend where Fed officials voted to cut rates by 25 basis points, but Wednesday’s outcome had been signaled by Chairman Jerome Powell at the central bank’s December meeting. Still, it comes after the disclosure of an unprecedented federal investigation into Powell that has raised questions about the institution’s independence.
“While the labor market has softened at the margins, the broader economy remains resilient, and inflation has not yet convincingly…
The tech giant is spending $35 million to promote its film about the first lady, far more than is typical for documentaries.
What began as a corruption case about favors for developers is veering into darker territory for Ingrid Lewis-Martin, once Mayor Eric Adams’ closest political ally. Court filings from Manhattan District Attorney Alvin Bragg allege Lewis-Martin accepted diamond earrings and other perks from developers while pressuring the Department of Buildings to push through hotel and nightlife projects, The City reported, even as senior DOB officials warned of unresolved safety issues. The filings suggest her interventions may have overridden concerns about fire egress and occupancy at a Lower East Side hotel and a rooftop bar project. The documents were filed Tuesday as […]
This article originally appeared on The Real Deal. Click here to read the full story.
It’s getting easier to keep track of the buildings in the Financial District that aren’t getting converted from offices to residences versus the ones that are. Broad Street Development and Invesco are the latest to join the fray, filing plans for a 326-unit conversion at 80 Broad Street, Crain’s reported. The 423,000-square-foot office building would be condensed into 336,000 square feet thanks to design work by Rawlings Architects. Features of the conversion would include a basement fitness studio, a restaurant and a doctor’s office on the first floor, as well as co-working space, bike storage and a pool on the […]
This article originally appeared on The Real Deal. Click here to read the full story.
Silver has risen roughly 60 percent this month alone. What is going on?