What had been a quiet month for mid-market investment sales in New York City got busy last week, with multifamily properties again proving to be a highly sought-after asset class. Five of the seven transactions between $10 million and $40 million that hit city property records included apartment buildings or plans for them. Four were in Brooklyn, two were in Manhattan and one was in the Bronx. Below are details on each sale, ranked by
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Starwood Capital is at its wits end with Joel Schreiber. Barry Sternlicht’s firm is suing Schreiber, best known as WeWork’s first investor, for allegedly defaulting on its loan backing a Los Angeles office building and on a personal guarantee. Starwood says Schreiber now owes a cool $271.5 million. Starwood’s suit follows a bizarre series of events surrounding the vacant, 1.1 million square-foot building, one of Downtown L.A.’s most troubled properties. In May, Starwood filed a
The post Starwood sues Joel Schreiber for $272M over troubled LA building appeared first on The Real Deal New York.