Helaba Bails on Herald Square Foreclosure, Leaving Jeff Sutton in Limbo
A German bank quietly assigned a $50M mortgage on 29 West 34th Street and stepped out of a foreclosure chase, handing the debt to entities tied to an SL Green executive.
Kings Capital Snags Long-Vacant FiDi Tower for Rental Makeover
Kings Capital paid roughly $30.1M for a long‑vacant FiDi tower and has filed to convert the 17‑story shell into 108 market‑rate apartments and retail. The developer is lining up construction financing and plans a rooftop amenity with East River views.
Midtown Hotel Shake-Up: Sonesta Snags $291 Million For Four-Property Revamp
Sonesta secured a $291M senior loan from Fortress to refinance and reposition four Midtown Manhattan hotels totaling 917 rooms. The financing could fund upgrades and stabilize operations across the portfolio.
Bloomingdale's Snags Ex-Pot Shop Spot On Downtown Brooklyn's Fulton Street
Bloomingdale's purchased the contested 446 Fulton Street storefront in Downtown Brooklyn, but Empire Cannabis is fighting the sale in court amid enforcement and bankruptcy records.
Swedish AI Upstart Snags Trophy Manhattan Floor In Office Space Shakeup
Swedish legal‑AI firm Legora has leased a full floor at an SL Green Manhattan tower as AI startups continue to gobble prime office space. The deal follows a large funding round and rapid U.S. expansion.
Developers Courted To Bring Governors Island’s Ghost Theater Back To Life
The Trust for Governors Island has invited developers to propose reuse plans for two restored landmark buildings, including the Fort Jay theater. Proposals must balance preservation with new cultural or educational uses.
Brooklyn Power Landlord Trips Over $38 Million Mortgage Tab
A Brooklyn apartment developer and his wife have fallen behind on a $38M mortgage, highlighting growing strain in New York real estate lending. Lenders may move to special servicing or seek workouts.












