Fresh From Qatar, Eric Adams Talks Up Creative Solutions for NYC’s Problems
There are people who have confidence in New York City’s real estate market even on its most volatile days. Mayor Eric Adams and Larry Silverstein are two of them, evident in the opinions they expressed...
View ArticleMAG Partners Buys Ground Lease for Residential Co-Op Redevelopment
MaryAnne Gilmartin’s MAG Partners has purchased the $63.8 million leasehold for 335 Eighth Avenue from Penn South and plans to turn the site into a mixed-income apartment building. MAG Partners signed...
View ArticleLidl to Open New 23K SF Grocery Store in Chelsea
A new Lidl grocery store is headed to 335 Eighth Avenue and it’s anything but little, Commercial Observer has learned. Lidl inked a 15-year deal for 23,000 square feet at the base of the affordable...
View ArticleCoffee With Citrin Cooperman Welcomes MAG Partners’ MaryAnne Gilmartin
For the latest installment of “Coffee With Citrin Cooperman,” a video series hosted by Citrin Cooperman and produced with Commercial Observer (the former “Breakfast with Berdon” changed its title...
View ArticleHow Sam Chandan Became the Go-To Economist for CRE’s Elite
When the pandemic engulfed the world, Sam Chandan volunteered for the fire department. Chandan was four years into what would be a six-year tenure as the Larry and Klara Silverstein chair and academic...
View ArticleElliott Investment Management Provides $196M Refi for Chelsea Multifamily Asset
MaryAnne Gilmartin’s MAG Partners has secured a $196 million refinancing loan for its 480-unit mixed-income luxury rental project in the heart of Manhattan’s West Chelsea neighborhood. The financing...
View ArticleSunday Summary: McKinsey’s $800 Billion Bombshell
Real estate was delivered a punch squarely to the gut last week. McKinsey & Company — the largest, oldest and arguably most respected of the big three consulting firms — issued a report carrying a...
View ArticleNYC Owners: Sure, We’ll Talk About Jerome Powell
As 2008 was winding down and the financial markets were reeling, the chairman of the Federal Reserve (Ben Bernanke at the time) cut interest rates to zero. It was an incredibly bold and incredibly...
View ArticleGlobal Holdings Joins MAG Partners, Safanad in $200M Luxury Resi Development
MAG Partners and Safanad have formed a joint venture with Global Holdings Group to capitalize their new 23-story, 194-unit, mixed-use luxury residential development at 300 East 50th Street in the...
View ArticleMAG Partners’ Big Chelsea Multifamily Project Secures $151M in Financing
A joint venture between MAG Partners and Safanad has secured $151.4 million in financing to capitalize a seven-story, 181-unit mixed-use multifamily building in Manhattan’s Chelsea neighborhood,...
View ArticleTex-Mex Flair and Karaoke Headed to Baltimore Peninsula
Baltimore’s Rye Street Market will soon see a new restaurant option along with a dedicated karaoke bar. The MAG Partners and MacFarlane Partners-led Baltimore Peninsula development group has inked two...
View ArticlePet Store, Wellness Company Ink Deals at MAG Partners’ Chelsea Development
Pet store Pet Evolution and wellness company Saint are moving into MAG Partners’ newly built luxury apartment development, called Ruby, at 243 West 28th Street in Chelsea. In the larger deal, Pet...
View ArticleNew York City Council Gives Final Nod to Adams’s City of Yes
The New York City Council gave Mayor Eric Adams’s sweeping plan to overhaul the city’s zoning in an effort to boost housing production the seal of approval Thursday, casting a majority vote in favor...
View ArticleSunday Summary: City of Yes, Yes, Yes!!
It took a long time, and weathered many ups and downs, but late Thursday afternoon the New York City Council voted 31 to 20 to approve Mayor Eric Adams’s City of Yes plan. (For those keeping track, the...
View ArticlePwC Downsizing, Moving to 23K-SF Office at MAG Partners’ Baltimore Peninsula
The developer behind the sprawling Baltimore Peninsula project in Maryland’s Charm City has landed another office tenant, nabbing it from a nearby skyscraper in Downtown Baltimore. Accounting and...
View ArticleMAG Partners’ MaryAnne Gilmartin On Recent Launches, Future Plans
MaryAnne Gilmartin has built a new brand for New York City’s buildings — and it’s all about the people. During her 24 years at the old Forest City Ratner, Gilmartin had a hand in building some of the...
View ArticleNewmark Inks 5K-SF Office Lease at Baltimore Peninsula
MAG Partners and MacFarlane Partners are steadily filling out their Baltimore Peninsula development with office tenants, with the latest being real estate services firm Newmark. Newmark inked a...
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