COMMERCIAL REAL ESTATE
Simmons Foundation has entered into an agreement to purchase the office section of the 150,000-square-foot property at 160 Fifth Ave. from RFR Holdings for $185 million. RFR bought the building for $34 million in 2005 and will maintain control of the retail part of the building. Read more at BisNow.
New York City Council voted to freeze new vehicle licensing for ride-share services for a period of one year in effort to ease traffic congestion in the city. New York is the first city in the county to put limits on such services. Read more at the New York Business Journal.
RESIDENTIAL REAL ESTATE
The city’s Landmarks Preservation Commission approved Nexus Building Development’s proposal for a residential building at the site of a former East Village gas explosion. When complete, the seven-story structure will bring 21 condos to the neighborhood with ground-floor retail. Read more at Curbed New York.
A Consumer Reports survey released this week found Google Fiber’s TV service to the best among the 25 providers evaluated. Only 38 percent of the 176,000 members surveyed were highly-satisfied with pay-TV services. Read more at The New York Post.
Seattle’s Finance and Administrative Services department reported the city has collected $5.8 million in revenue from its newly imposed soda tax in the second quarter of 2018. The 1.75 cent per fluid ounce tax went into effect six months ago and has collected $10.5 million in taxes since the beginning of the year. Read more at Fox Business.