Elementary, my dear Watson: IBM searching for massive new NYC office

IBM supercomputer Watson is helping people file their taxes, upgrading the city’s 311 system and helping to turn Internet of Things devices into points of sale. But all that high tech still needs some brick-and-mortar office space. IBM, which is headquartered about 35 miles north of Manhattan in Armonk, NY, and has offices in the city on Madison Avenue and ...

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Witkoff may sell Park Lane Hotel: judge

Developer Steve Witkoff has a federal judge’s blessing to sell the Park Lane Hotel as part of an agreement to oust scandal-plagued Malaysian investor Jho Low. U.S. District Court Judge Dale Fischer approved plans by Witkoff and the Department of Justice as part of a cooperation agreement reached last year after Low became ensnared in a massive money-laundering scandal. Initially, ...

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Legislators call for more scrutiny on Chinese investment in US

From the South Florida website: Following a record year of Chinese investment in the U.S., Republican and Democratic lawmakers are calling for more federal scrutiny of future deals. Encouraged by President Donald Trump’s campaign promises to raise import duties on Chinese goods, legislators are pushing to strengthen the Committee on Foreign Investment in the U.S., or CFIUS, according to the Wall ...

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Winston Fisher Talks Marathons, Mezz Debt and Fisher Brothers’ Pipeline

Over the last four years, Fisher Brothers has been able to carve out a niche in the mezzanine financing market. That opportunity exists because larger financial institutions and big banks don’t often put out loans less than $30 million for transitional properties, according to Winston Fisher. He sat with Commercial Observer in the family-run firm’s 299 Park Avenue offices in ...

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Aion Partners shopping 115K sf Tribeca commercial condo

Michael Betancourt and Siraj Dadabhoy’ Aion Partners is shopping a 115,000-square-foot office and retail condo at 86 Chambers Street in Tribeca. According to its website, Aion bought the condo in September 2004. Property records show that it refinanced the asset in April 2016 with a $43.5 million loan from TH Commercial Mortgage. Colliers International’s Richard Baxter, Ron Cohen and Scott ...

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HFZ’s Alicia Goldstein Talks Real Estate, Miami and the Movies

Alicia Goldstein is something of a legacy in New York real estate. Her mother, Patricia Goldstein, worked at the highest levels of commercial real estate for decades, including as vice chairman and head of commercial real estate at Emigrant Bank, until her passing last April. And Alicia, 43, has made her mother proud. Currently the senior managing director and president ...

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With His Hospitality Niche, Morris Moinian Is Making a Big Play in Chelsea, Flatiron

“Morris is a gunslinger.” That’s how Wayne S. Cook, at attorney at Windels Marx Lane & Mittendorf, described his client Morris Moinian. “Morris has a very, very keen focus on undervalued assets,” Cook continued. “He can see the finish line, especially in the hotel market right now. It’s overvalued and a lot of players are not coming in.” Indeed, Moinian’s ...

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Hedge Fund Citadel Subleases 24K SF at 520 Madison Avenue

Citadel—the hedge fund that made waves last year after signing a high-priced lease at L&L Holding Company’s brand new 425 Park Avenue—has agreed to sublease 24,000 square feet at 520 Madison Avenue in Midtown from financial services firm Jefferies, according to The Real Deal. The Chicago-based, Ken Griffin-led firm has sought to expand its Manhattan office footprint while L&L completes ...

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Mamma Mia: Italo-American Museum Will Take a Break After Building Sale, Expand

Oved Group and Nexus Building Development Group have purchased 185-189 Grand Street at the corner of Mulberry Street in Little Italy, home to Italian American Museum, for $14.8 million, a source with knowledge of the deal told Commercial Observer. The transaction closed last Friday, Joseph Oved of Oved Group confirmed. The new owners plan to develop a Morris Adjmi Architects-designed ...

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