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Archive for May 3rd, 2026
Rithm Capital Plans $250M in Office Improvements Across New York and San Francisco
Rithm Capital is making a big bet in the office sector in two major coastal cities. The asset manager, along with joint venture partners, is planning to pour about $250 million into capital improvements across an office portfolio that’s managed by its subsidiary, Elecor Properties. The entity was formerly known as Paramount Group, which just […]
Vornado Acquires 49% Stake in $1.1B Park Avenue Plaza Office
Vornado Realty Trust has acquired a 49 percent stake in Park Avenue Plaza, a trophy Class A office building that holds a gross asset valuation of $1.1 billion. The equity was purchased from Closer Properties, while Fisher Brothers will continue to remain the majority 51 percent owner in the property located at 55 East 52nd […]
$72M Refi At Park Avenue Office to Support Repositioning
Joint venture owners of 430 Park Avenue have secured a $72 million loan to refinance the leasehold interest in the building and use the funds to reposition the asset. The JV, which has owned the building since the 1954 construction, consists of Midwood Investment & Development Inc., Marx Realty and Oestreicher Properties. Axonic Capital LLC […]