Prologis is broadcasting that the industrial market remains hot in the outer boroughs. The industrial giant picked up 223,000 square feet of land at 48-00 Grand Avenue in Maspeth for $51 million from a religious radio station, according to property records. The deal adds to Prologis’ already sizable presence in the Queens neighborhood. The seller was California nonprofit Family Stations, parent company of Nashville-based Family Radio. The nonprofit reported over $33 million in real estate
With Covid-19 on the rise, more areas of New York City will return to lockdown Wednesday. West Harlem, Hamilton Heights and parts of Washington Heights will become a yellow zone in Upper Manhattan. Across the city, parts of Staten Island will be designated yellow and orange. In Gov. Andrew Cuomo’s system, these are not good colors. Under the yellow zone, gatherings are limited to 25 people and restaurants may only seat four people per table.
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Apple is betting big on Midtown: The tech giant has inked a deal to expand its offices at Vornado Realty Trust’s 11 Penn Plaza. In February, the Cupertino, California-based company signed a sublease for 220,000 square feet spanning four floors of the building. At the time, the Art Deco tower had 638,921 square feet available on the 4th through 14th floors as a sublease from Macy’s. Now, The Real Deal has learned that Apple has
RFR Holding is using the pandemic as cover to extract an exorbitant buyout for its minority stake in a Midtown condo project, partner Vanke US has argued in a new court filing. The allegations are in response to a lawsuit Aby Rosen’s firm filed last month, which accused Vanke, a U.S. subsidiary of one of China’s largest residential developers, of orchestrating a “backdoor deal” that put it on both sides of the borrower-lender relationship for
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