By Karsten Strauss 11/21/12 1:37pm
http://commercialobserver.com/2012/11/worldwide-plaza-confirms-refinance-plans/
Showing posts with label George Comfort and Sons. Show all posts
Showing posts with label George Comfort and Sons. Show all posts
Wednesday, November 21, 2012
Worldwide Plaza Confirms Recapitalization Plans
Worldwide Plaza Confirms Recapitalization Plans
By Karsten Strauss 11/21/12 1:37pm
Worldwide Plaza will definitely look to recapitalize, following several months of lingering on the auction block. Sellers, George Comfort & Sons and RCG Longview, had purchased the building – located at 825 Eighth Avenue – in 2009 for just under $600 million.
http://commercialobserver.com/2012/11/worldwide-plaza-confirms-refinance-plans/
By Karsten Strauss 11/21/12 1:37pm
http://commercialobserver.com/2012/11/worldwide-plaza-confirms-refinance-plans/
Monday, October 1, 2012
Worldwide Plaza Bids Coming in Slightly Below George Comfort’s Lofty Targets
Worldwide Plaza Bids Coming in Slightly Below George Comfort’s Lofty Targets
By Daniel Geiger 10/01/12 6:04pm
Bids for Worldwide Plaza are coming in below the sky-high projections sellers George Comfort & Sons and RCG Longview had hoped for when the partners (finally) put the nearly two million-square-foot office tower on the market in recent weeks.
http://commercialobserver.com/2012/10/worldwide-plaza-bids-coming-in-slightly-below-george-comforts-lofty-targets/
By Daniel Geiger 10/01/12 6:04pm
Bids for Worldwide Plaza are coming in below the sky-high projections sellers George Comfort & Sons and RCG Longview had hoped for when the partners (finally) put the nearly two million-square-foot office tower on the market in recent weeks.
http://commercialobserver.com/2012/10/worldwide-plaza-bids-coming-in-slightly-below-george-comforts-lofty-targets/
Tuesday, August 17, 2010
WNET signs lease at Worldwide Plaza
WNET signs lease at Worldwide Plaza
August 17, 2010 08:30 AM
Worldwide Plaza at 825 Eighth Avenue
WNET, the parent company of public television’s Channel 13, has signed a 95,000-square-foot lease at Worldwide Plaza at 825 Eighth Avenue between 49th and 50th streets, taking two floors in the 1.8 million-square-foot tower, the Post reported. Terms for the Worldwide Plaza lease were not released, but asking rents there run from $52 to $59 a square foot. The deal marks an important step forward for the building, which was purchased last year from Deutsche Bank for $605 million by a George Comfort & Sons-led partnership after Deutsche took it back from Harry Macklowe. The WNET deal is the first section being leased out of the 640,000 square feet that became available after advertising agency Ogilvy & Mather moved out in 2009 (note: correction appended). WNET will move from its current corporate headquarters at 450 West 33rd Street by the end of the year. WNET was represented by Cushman & Wakefield’s Charles Borrok and Barry Zeller in the transaction. The landlord was represented in-house by Peter Duncan, George Comfort CEO and president, and Matthew Coudert, executive vice president.
August 17, 2010 08:30 AM
WNET, the parent company of public television’s Channel 13, has signed a 95,000-square-foot lease at Worldwide Plaza at 825 Eighth Avenue between 49th and 50th streets, taking two floors in the 1.8 million-square-foot tower, the Post reported. Terms for the Worldwide Plaza lease were not released, but asking rents there run from $52 to $59 a square foot. The deal marks an important step forward for the building, which was purchased last year from Deutsche Bank for $605 million by a George Comfort & Sons-led partnership after Deutsche took it back from Harry Macklowe. The WNET deal is the first section being leased out of the 640,000 square feet that became available after advertising agency Ogilvy & Mather moved out in 2009 (note: correction appended). WNET will move from its current corporate headquarters at 450 West 33rd Street by the end of the year. WNET was represented by Cushman & Wakefield’s Charles Borrok and Barry Zeller in the transaction. The landlord was represented in-house by Peter Duncan, George Comfort CEO and president, and Matthew Coudert, executive vice president.
Tuesday, July 7, 2009
$600M Worldwide Plaza sale approved
$600M Worldwide Plaza sale approved
July 07, 2009 12:32PM
http://therealdeal.com/blog/2009/07/07/george-comfort-completes-worldwide-plaza-deal-deutshce-bank-rcg-longview-macklowe-properties/
After the last deal fell apart, George Comfort & Sons and RCG Longview finally completed a $600 million deal with Deutsche Bank to purchase Worldwide Plaza. Rather than creating a joint venture, Deutsche Bank will just provide a $470 million mortgage for George Comfort and put up about $135 million in equity. The price comes to about $375 a square foot for the 1.6 million-square-foot tower at 825 Eighth Avenue, and the deal is expected to close later this month. As part of the agreement, Deutsche Bank will write down the original $1 billion mortgage it held on the property when Macklowe Properties bought the building in 2007.
http://therealdeal.com/blog/2009/07/07/george-comfort-completes-worldwide-plaza-deal-deutshce-bank-rcg-longview-macklowe-properties/
July 07, 2009 12:32PM
http://therealdeal.com/blog/2009/07/07/george-comfort-completes-worldwide-plaza-deal-deutshce-bank-rcg-longview-macklowe-properties/
After the last deal fell apart, George Comfort & Sons and RCG Longview finally completed a $600 million deal with Deutsche Bank to purchase Worldwide Plaza. Rather than creating a joint venture, Deutsche Bank will just provide a $470 million mortgage for George Comfort and put up about $135 million in equity. The price comes to about $375 a square foot for the 1.6 million-square-foot tower at 825 Eighth Avenue, and the deal is expected to close later this month. As part of the agreement, Deutsche Bank will write down the original $1 billion mortgage it held on the property when Macklowe Properties bought the building in 2007.
http://therealdeal.com/blog/2009/07/07/george-comfort-completes-worldwide-plaza-deal-deutshce-bank-rcg-longview-macklowe-properties/
Wednesday, June 24, 2009
George Comfort blames Deutsche Bank for botched Worldwide Plaza deal
George Comfort blames Deutsche Bank for botched Worldwide Plaza deal
June 24, 2009 02:58PM
http://therealdeal.com/blog/2009/06/24/george-comfort-blames-deutsche-bank-botched-worldwide-plaza-deal-harry-macklowe-rcg-longview-peter-duncan/
George Comfort & Sons President Peter Duncan blamed lender Deutsche Bank for the breakdown in a deal to buy the former Macklowe Properties Worldwide Plaza west of Times Square. The real estate firm and investment partner RCG Longview were “disappointed that the seller, Deutsche Bank AG, has decided not to honor the contract,” Duncan said in a statement. The companies were in contract to purchase the 1.8 million-square-foot office tower at 825 Eighth Avenue between 49th and 50th streets after the bank took it back from Macklowe Properties. Duncan held out hope the deal could still be finalized. “We have an executed sales contract, a significant hard deposit in place, and even a closing date of June 30th from the seller’s attorneys. We are ready to close,” he said. TRD
http://therealdeal.com/blog/2009/06/24/george-comfort-blames-deutsche-bank-botched-worldwide-plaza-deal-harry-macklowe-rcg-longview-peter-duncan/
June 24, 2009 02:58PM
http://therealdeal.com/blog/2009/06/24/george-comfort-blames-deutsche-bank-botched-worldwide-plaza-deal-harry-macklowe-rcg-longview-peter-duncan/
George Comfort & Sons President Peter Duncan blamed lender Deutsche Bank for the breakdown in a deal to buy the former Macklowe Properties Worldwide Plaza west of Times Square. The real estate firm and investment partner RCG Longview were “disappointed that the seller, Deutsche Bank AG, has decided not to honor the contract,” Duncan said in a statement. The companies were in contract to purchase the 1.8 million-square-foot office tower at 825 Eighth Avenue between 49th and 50th streets after the bank took it back from Macklowe Properties. Duncan held out hope the deal could still be finalized. “We have an executed sales contract, a significant hard deposit in place, and even a closing date of June 30th from the seller’s attorneys. We are ready to close,” he said. TRD
http://therealdeal.com/blog/2009/06/24/george-comfort-blames-deutsche-bank-botched-worldwide-plaza-deal-harry-macklowe-rcg-longview-peter-duncan/
Wednesday, May 27, 2009
Worldwide Plaza for sale
Worldwide Plaza for sale
May 27, 2009 09:00 AM
Worldwide Plaza, the last piece of Macklowe Properties’ portfolio, is for sale. The lender in control of the 1.7 million-square-foot building, Deutsche Bank, wants to retain an ownership stake, but is also prepared to write down the current $1.02 billion in outstanding principal to an $800 million mortgage. The buyer of the building at 825 Eighth Avenue, at 50th Street, is expected to contribute $200 million in equity, and the deal would be valued between $300 and $350 per foot. The leading potential buyer, according to the Post, is George Comfort & Sons. According to CoStar Group, 639,540 square feet is available in the building.
http://therealdeal.com/blog/2009/05/27/worldwide-plaza-for-sale-macklowe-deutsche-bank/
May 27, 2009 09:00 AM
Worldwide Plaza, the last piece of Macklowe Properties’ portfolio, is for sale. The lender in control of the 1.7 million-square-foot building, Deutsche Bank, wants to retain an ownership stake, but is also prepared to write down the current $1.02 billion in outstanding principal to an $800 million mortgage. The buyer of the building at 825 Eighth Avenue, at 50th Street, is expected to contribute $200 million in equity, and the deal would be valued between $300 and $350 per foot. The leading potential buyer, according to the Post, is George Comfort & Sons. According to CoStar Group, 639,540 square feet is available in the building.
http://therealdeal.com/blog/2009/05/27/worldwide-plaza-for-sale-macklowe-deutsche-bank/
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