A year after closing on an acquisition of 1375 Broadway, affiliates of the American Exchange Group closed on a refinancing package of the building. Bain Capital provided 60 Guilders and Sentry Realty with a $213 million loan backed by the Midtown Manhattan office property, the Commercial Observer reported. (Both 60 Guilders and Sentry are affiliates of American Exchange.) The deal comes barely 12 months after American Exchange closed on its acquisition of the property from Savanna, secured by acquiring a $200 million debt behind the property in August 2024 from Aareal Capital. A Newmark team including Nick Scribani, Ricky Braha […]

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Douglas Elliman’s head of residential leasing Hal Gavzie is no longer with the firm, The Real Deal has learned.   Gavzie joined the firm almost 10 years ago to take over its rental division. He added new development leasing to his purview just eight months later as the result of a restructuring. Over the next decade, Gavzie oversaw the expansion of Douglas Elliman’s leasing operations, including new development leasing in New York and South Florida.  Gavzie’s latest title was executive vice president of residential sales and leasing.  Prior to joining Elliman, Gavzie held managing director roles at Town Residential, Corcoran and […]

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Driven by the artificial intelligence frenzy, Microsoft is internally projecting that water use at its data centers will more than double by 2030 from 2020, including in places that face shortages.

Jennifer Homendy, the outspoken chairwoman of the National Transportation Safety Board, is reclaiming the spotlight at a meeting on Tuesday about the Washington, D.C., crash that killed 67.

“The Outsiders” is the first new musical to open since 2022 to become profitable.

Business leaders continue to feel pressure to speak out about the immigration crackdown and the fatal shooting of two U.S. citizens.

The automaker said that it would buy back stock worth up to $6 billion and that it expected profit to rise this year after it pulled back from electric vehicle production.

Soloviev Group is eyeing an office tower for its 57th Street site.  CEO Michael Hershman says his firm is looking for a company to anchor an office tower on its decades-in-the-making assemblage on 57th Street.   “There’s simply too many companies looking and not enough space,” he told me at the Real Estate Board of New York’s gala last week. “We think our property on 57th Street is the perfect location to build a corporate headquarters, for either a domestic or foreign company.”  He would not, however, discuss who Soloviev Group has talked to so far, but said more than 900,000 […]

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There were 202 transactions totaling $364 million filed in New York City records from 4 p.m. on Friday, Jan. 23 through 4 p.m. on Monday, Jan. 26. 🏆 Residential: The Upper West Side had the top home sale recorded in the city. Joshua Pristaw, president of real estate investment firm Clarion Partners, Bethany Pristaw, general counsel and chief compliance officer at real estate investment firm Prospect Ridge, snapped up a sponsor unit at The Henry at 211 West 84th Street, which was developed by Miki Naftali’s Naftali Group. The price was $9.8 million, well above the unit’s asking price of […]

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Farmers are critical to Iowa’s economy. They have been battered by President Trump’s tariffs and are not yet experiencing the “golden age” that the president promised.