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December 22, 2020

This Week's N.Y. Deal Sheet

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Several big New York City deals closed this week as a tumultuous year comes to an end.

TOP SALES

This Week's N.Y. Deal Sheet

Jack Elo purchased The Exchange, an 18-story Class-B office building at 15 West 47th Street, for $110M — $5M less than it was in contract to sell for in February before the coronavirus pandemic hit, Crain’s New York Business reports. The sellers, Sinoi Group and Eli and Isaac Chetrit,…

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Top Stories on Bisnow.com

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Aby Rosen Could Lose Control Of The Ritzy Gramercy Park Hotel

Aby Rosen Could Lose Control Of The Ritzy Gramercy Park Hotel

The coronavirus pandemic has hit the city’s hotel operators hard, and one of the flashiest proprietors is no exception.Aby Rosen has fallen behind on his ground lease payments at the Gramercy Park Hotel to the tune of nearly $900K, and his company, RFR Realty, is now facing eviction, Artnet…

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Cantor Fitzgerald Looks To Buy Real Estate Brokerage With Latest SPAC

Cantor Fitzgerald Looks To Buy Real Estate Brokerage With Latest SPAC  

Cantor Fitzgerald is raising $400M for another blank check company, this time looking at possibly acquiring a real estate brokerage. CF Acquisition Corp. IV, led by Cantor executives Howard Lutnick, Anshu Jain and Paul Pion, filed paperwork with the Securities and Exchange Commission Monday. With this company, CF Acquisition Corp. is looking…

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The 5 Biggest CRE Flops In 2020

It will come as no surprise to the regular Bisnow reader that 2020 was a time of worry, woe and wishful thinking for the vast majority of businesses related to commercial real estate.

But for certain sectors of the industry, it was a particularly fraught year to launch new products and projects, and all five of our biggest flops this year fell prey to withering market conditions or a tense political climate. Check out our list of this year’s major stumbles.

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