The commercial real estate brokerage Marcus & Millichap (NYSE: MMI) announced the sale of $19.2 million sale of Manchester Parkade, a 302,000-square-foot shopping center in Manchester, Connecticut. The property was developed in 1962 and is 92% occupied with 46...
After leasing its flagship store on New York City’s Fifth Avenue since 1997, the luxury retailer Prada (OTC:PRDSF) is paying $425 million to buy the property. Reuters reported Prada will take ownership of the five-story store and its accompanying seven-story office...
An Austrian real estate company that owns a stake in New York City’s Chrysler Building may have to sell its holding in the iconic skyscraper as part of a bankruptcy restructuring. The Wall Street Journal reported an Austrian court-appointed insolvency administrator of...
Peachtree Group, an Atlanta-based commercial real estate investment firm, has named Sameer Nair as senior vice president of equity asset management. In his new role, Nair will oversee and implement asset oversight to Peachtree’s real estate portfolio and preferred...
A New York City man pleaded guilty for his role in a conspiracy to fraudulently acquire multifamily and commercial properties. Boruch “Barry” Drillman was accused of conspiring with at least four others to deceive lenders into issuing $165 million in multifamily and...
The Federal Reserve’s mixed messaging, a music icon’s embrace of commercial real estate and a new record level of homelessness. From the wild and wooly world of real estate, here are the hits and misses for the week of Dec. 11-15. Hit: Keeping a Finger on the Pause...
Hits and Misses for the Real Estate Week of June 22-26
