Just a few weeks after announcing plans for its first ever Manhattan project, Brooklyn-based developer Hello Living has now revealed plans for a new building in the Bronx. After purchasing a parking garage for petroleum products distributor Ambassador Fuel, located at 1049 Washington Avenue, for $11.3 million, the firm plans to construct a 104-unit condo—to be named “Hello W”—in its place, reports The Real Deal. … Read more at Curbed New York.
What Do Local Startups Think About Amazon HQ2?
As Amazon moves into its new home in the Big Apple, the company will find itself immersed in a storied—if tumultuous—local retail industry. Unlike the other contenders for Amazon’s so-called “HQ2” satellite offices, New York City is home to the nation’s historical retail roots on “Fashion Avenue,” as well as a growing e-commerce startup scene. … Read more at Xconomy.
RESIDENTIAL REAL ESTATE
Slate Property and GreenOak Acquire the Biltmore for $280 Million
Slate Property Group and GreenOak Real Estate are teaming up to buy a 52-story Manhattan rental building from The Jack Parker Corp. The deal for the building at 271 West 47th St., known as the Biltmore, closed this week, The Real Deal reports. Slate and GreenOak are paying in excess of $280 million. … Read more at BisNow.
COMMERCIAL REAL ESTATE
Normandy Real Estate Sells Roseland Parcel for $17.2 Million
3 Becker Farm Road in Roseland has sold for $17.2 million—that’s a record-making $150 per square foot for the Essex County city, according to Newmark Knight Frank. Executive Managing Director Kevin Welsh, Managing Director Brian Schulz and Associate Chuck Kohaut of NKF’s Tri-State Capital Markets team negotiated the sale of the 115,422-square-foot building on behalf of the seller, Morristown-based Normandy Real Estate Partners. … Read more at NJ Biz.