Olmstead scoops up Savanna’s Midtown office building for 45% off
Olmstead Properties snapped up a Midtown office building for $108 million, a steep markdown from its last trade in 2017, The Real Deal has learned. Olmstead bought the 16-story, 303,000-square-foot property at 19 West 44th Street from Savanna, almost a decade after the private equity firm paid $195
The Data Drop: In a pricey world, NYC’s builders pivot to redevelopments
Welcome to The Data Drop by TRD Data, a weekly look at the numbers shaping real estate. This week, we are looking at how persistently high financing costs are shaping development in the Big Apple. An analysis of city permit data over the past year revealed that the city’s builders are shifting gea
Resorts World, Cirrus buy first project for workforce housing initiative
Cirrus Real Estate Partners and Resorts World are putting their chips where their mouths are, acquiring a site for workforce housing. Cirrus and the gaming company bought the site at 93-30 165th Street in Jamaica, Queens, for $46.1 million, Crain’s reported. The joint venture plans to redevelop the
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