The previous owner paid almost double for the asset in multiple separate transactions.
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It's the second time Northwestern Mutual provided financing for this property.
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Nearly half of the total will go toward building a 1.5 million-square-foot campus.
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In a complex market, advanced technology is reshaping CRE research and changing how economists predict market performance.
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CommonWealth Partners owns the architecturally distinctive building at the threshold of Hudson Yards.
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City National Bank issued the note, according to CommercialEdge information.
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This light industrial asset previously traded in 2019.
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The property traded at a considerable discount.
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This was the first time the property changed hands in more than three decades.
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Built in 1900, the property went through complete renovations 20 years ago.
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The move is responding to an expected generational wealth transfer over the coming years.
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The metro’s transaction volume fell sharply year-over-year, according to CommercialEdge.
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The new owner will rebrand and improve the property.
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A renowned New York City dance company will waltz into its new space at 1501 Broadway next year.
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At full build-out, this campus will comprise retail, office and medical spaces.
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Restoring contaminated land for safe use can spur new development close to urban areas, but it doesn't come easy.
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This is the joint venture's second development in the market.
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Top trends impacting the market, according to Northmarq.
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A list of NYC's top retail building sales of 2025.
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The metro's transaction activity decreased significantly, according to CommercialEdge.
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