Saturday, 16 November 2024

Commercial

'New York LaGuardia Airport Hotel Traded for $22 Million

The LaGuardia Airport Marriott Hotel in New York has sold for $22 million, almost one third of its sale price in 2007. The 438 room hotel was acquired by a real estate investing firm, Rubicon Cos.

'Google Purchases Plot in London for $1 Billion to Build New Headquarters

Google Inc. has purchased a 2.4 acre plot on the Kings Cross Central Plot for $1 billion.Construction is expected to start in late 2013 and is slated to be completed by 2016.

' New York Cosmos Plans New Stadium in Belmont

Along with its comeback declaration, The Cosmos have also released plans of building a 25,000-seater stadium at the Belmont Park Racing Track in Nassau County. Plans of the project have been submitted to the Empire State Development Corporation which will decide and analyze the feasibility of the project later this year.

EDITOR'S PICKS

'75 percent of London’s Hot Property, Battersea Power station Phase, Sells Out

Around 75 percent of Battersea Power Station project's Phase, one of the units have sold out. Bookings have already started at a super-fast rate. Phase-one will hold residential units while phase-two will comprise of retail and office space units.

By Rapti Gupta
'Cooper Square in New York to Get a New High Rise at Astor Place

A brand new building is all geared up to break ground soon at 51 Astor Place, Cooper Square. The 13 story building will be used for both office and educational purposes. The building is being developed by Edward J. Minskoff who has negotiated a lease of $97 million for 99 years for the building.

By Rapti Gupta
'Commercial Property Sales Decline in Australia

Australian retail real estate markets are hitting new lows. In the fourth quarter of 2012, total sales declined by 33 percent. The decline is attributed to decreasing foreign investment activity in the country.

By Rapti Gupta
'Boston’s 100 Federal Street to Add Retail at its Base

The famous financial district building of Boston, 100 Federal Street, will soon see some retail store additions at its base. Rumors have it that most of the stores will be eateries. However, the place has not been leased or rented to any entity yet.

By Rapti Gupta
'Construction Bells Ringing for the Long Stalled Seward Park Lot

Construction plans for the vacant Seward park lot, lying at the foot of Williamsburg Bridge were stalled for a few decades. However, the Economic Deportment Corporation has finally released a Request for Proposal soliciting developers to bid for construction contracts at the site.

By Rapti Gupta
'Construction of High Rise Buildings to Shoot Up in 2013

Sky Rise building constructions dipped a little in the past year. However, 2013 is expected to be a jackpot period for the high rise buildings as 59 more buildings, are expected to join the club by the end of the year.

By Rapti Gupta
'Barclays Joins UK Mortgage Rate Reduction Stream

Banking Giant Barclays announced that it will slash down mortgage rates up to 1 percent for new home investors. A new scheme, "The family Springboard Mortgage" was announced by the bank that is expected to help customers in financing their investments.

By Rapti Gupta
'Will Walmart Enter Newark’s Springfield Avenue Marketplace?

Newark City's Springfield Avenue Marketplace is slated to be fully functional from 2014. However, contemplation of retail giant Walmart, opening an anchor grocery outlet in the complex has drawn some heated controversy to it.

By Staff Reporter
'US Office Space Demand on a Slow Track

The demand for Office space in America is on a sluggish track. Since the economy is on a slow rebound and employers declaring cautious hiring, the forecast for the market is slow and steady.

By Staff Reporter
'California Commercial Estate Market Witnessing a Surge

The commercial real estate markets of California will be witnessing a mounting surge as more number of investors are taking advantage of the prevailing low rents and high vacancy rates. Builders believe that the value of properties will rise subsequently in 2013.

By Staff Reporter
'Thor Equities Shells Out $277 million for Retail Block on Madison Avenue

Retail real estate giant Thor Equities has reportedly acquired the 35,000 square foot Madison Avenue lot for a huge sum of $277 million. The space will be used to build a retail space that will sport luxury brands only.

By Staff writer
''Marriott Edition' to Launch in Times Square

The new brand of Marriott International, Marriott Edition is all set to launch in the commercial area of Times Square, Manhattan. The hotel will be a much cooler version of its predecessor and intends to attract a younger and hipper clientele.

By Staff writer