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NEWS
Global Deal
2006-05-24 00:00:00
Commodity traders, Global Price, leased 1,265 sf at 64 Fulton Street for the next five years because their current office building at 114 East 32nd Street is being converted to residential use.
Vlad Porter of VB Porter & Company represented the tenant in negotiations with building owner, William Hocking of William S. Hocking Realty. Downtown seems to still command the cheaper rates even if rents there are on the rise, said Porter.
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- A large international Turkish construction firm, U.F.U.K also known as Memobay made their US headquarters at 55 Broad Street, taking a 7 year lease in the Class A office building. more info...
- Global Brokerage Corp. moves to 50 Broadway with furniture and a phone system included in a direct 5 year lease. more info...
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- Several community and regional banks, already squeezed by the subprime mortgage crisis, tightened consumer lending and falling share prices, are following the lead of some banking giants and pursuing sale-leasebacks as a hedge against current economic volatility. The strategy allows banks to raise cash while pruning unneeded brick-and-mortar assets from their balance sheets. In addition to large deals by the likes of Citi, Wachovia and SunTrust to monetize a portion of the...
more info...
- A new fancy Italian Restaurant will be opening in the heart of the FlatIron District more info...
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