The drone of generators fills the silence of lower Manhattan on a weekday afternoon. A newsstand is open at the corner of Wall and Water streets, its main customers now cleanup crews rather than bankers, lawyers and other financial district office workers.
Vornado Realty Trust said it agreed to buy retail space on New York’s Fifth Avenue, the world’s priciest shopping corridor, for about $707 million, and plans to sell $428 million of properties across the U.S. and Canada.
New York developer Sheldon Solow secured a $625 million loan from Deutsche Bank AG to refinance debt on 9 West 57th Street, a trophy tower in midtown Manhattan, as lenders focus on the best properties.
Kushner Cos. is seeking to buy American International Group Inc. ’s equity stake in about 17,000 apartments, almost three years after selling the units near the property market’s peak, a person with knowledge of the bid said.