The Investment Sales team continues to complete bigger transactions as the average size transactions thus far in 2014 is up 23% from 2013, 78% from 2012, and 141% from 2007. Some notable transactions include: The Hudson Spire, a development site in Hudson Yards sold in a transaction valued at $238 million, and 511 West 35th Street, a development site in Hudson Yards that was sold in a transaction valued at $88,000,000.
The Capital Services team has strung together its best two quarters in terms of dollar volume since its inception in 2011. Some notable transactions include the closing of an $80,000,000 bridge financing, secured by the Cassa Hotel, a 165-key hotel located in the Times Square and a $26.6 million loan collateralized by eight mixed-use properties in Manhattan’s Midtown and Upper East Side neighborhoods.