Americold Realty Trust entered an agreement with activist shareholder Ancora Group Holdings to help reduce its debt and explore potential asset sales. 

The long road to approval for Totem’s rezoning in East New York is over. The real work is set to begin. City Council gave final approval last week to Totem’s plans for a two-acre site surrounding the Broadway Junction transportation hub in Brooklyn, Crain’s reported. Construction is expected to begin early next year. The project, known as Herkimer-Williams, has been in the making since 2021. That’s when Totem, led by Vivian Liao and Tucker Reed, filed preliminary plans for the site. Since then, hundreds of meetings with residents and stakeholders yielded changes, including reducing the maximum height of the buildings […]

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Moody’s is downsizing and trading one Lower Manhattan tower for another. The credit ratings giant signed a 460,000-square-foot lease at Brookfield Properties’ 200 Liberty Street, setting up a 2027 move of its global headquarters, the company announced. Moody’s will relocate from Silverstein Properties’ 7 World Trade Center, where it now occupies 758,000 square feet. The company will occupy multiple floors of the 40-story tower, which is part of the 9.4-million-square-foot Brookfield Place complex in Battery Park. The relocation is part of the company’s broader global office overhaul, which also includes new offices in London, Sydney, Tokyo, Milan and Washington, D.C. […]

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JPMorgan has had to pay tens of millions in legal costs for the convicted fraudster. It wants the public to see a newly unredacted list of itemized expenses.

An Upper East Side co-op, trading hands for the first time in decades, led Manhattan’s luxury market this week.  The duplex apartment at 980 Fifth Avenue, asking $16.2 million, was the priciest of 21 homes in the borough asking $4 million or more to find buyers between Dec. 15 and Dec. 21, according to Olshan Realty’s report.  The total was down from the 33 deals inked in the previous period, though it was still a strong showing for mid-December, when activity typically slows as the holidays approach.  Unit 24/25A hit the market in September. It’s unclear when the apartment last […]

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From January to June, more than 20,000 employees out of more than 110,000 left the agency, according a report by the agency’s inspector general.

South Korean pharmaceutical giant Samsung Biologics is making a major acquisition in the D.C. suburbs to establish its first U.S. manufacturing facility. 

New York City will head into next year with a new titleholder for the largest office-to-residential financing. InterVest Capital Partners and Nathan Berman’s Metro Loft Management scored $779 million in financing for their conversion of 111 Wall Street in the Financial DIstrict, Bloomberg reported. Apollo Global Management, JPMorgan Chase and Adi Chugh’s Tyko Capital provided the financing. Additionally, InterVest and Metro Loft extended a previous loan on the project, bringing the total financing for the development up to $867 million. The financing is divided between a $700 million senior loan and $167 million in mezzanine debt, according to the Commercial […]

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Where one coworking space has retreated, another is moving in.  Jack and Juda Srour’s Jay Suites is opening its first Brooklyn location at 41 Flatbush Avenue, where Fort Greene meets Downtown Brooklyn. It’s taking over 30,000 square feet on the second floor of the Pioneer Building, previously occupied by coworking competitor Regus.  It’s one vote of confidence in the borough’s coworking market and the idea that white-collar Brooklynites are willing to pay for office space near them.  Juda Srour said he expects workers from the area’s new residential towers to become customers. “The entire area is really changing with all […]

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America’s ability to make precision-guided missiles was threatened during Trump’s tariff war. But experienced players have rescued the supply chain, for now.