Tighe, Fiddle, Deutsch, Harle, Pollen and Joseph of CBRE lease 109,296 s/f to Adobe

Multinational computer software company Adobe Inc. has inked a 109,296 s/f lease at 1540 Broadway, a 44-story, class A office building. Adobe has renewed its 27,323 s/f lease on the entire 17th floor and is expanding by an additional 81,972 s/f of office space on floors 18, 19 and 20. The CBRE team of Mary Ann Tighe, Howard Fiddle, Eric Deutsch, Christie Harle, Jason Pollen and Benjamin Joseph spearheaded the leasing campaign at 1540 Broadway and represented the ownership, EDGE Fund Advisors, in the 10-year lease.

—New York Real Estate Journal

Multifamily Living Surely Has a Future on Long Island (byline)

We don’t have to look far to find outstanding examples of multifamily design. Some of the most well-known and striking architecture in the metropolitan area is displayed it all its stunning glory in the design of apartment buildings. Rosario Candela, with his many Art Deco masterpieces of the 1920s and ’30s. Paul Duboy and his classic Ansonia on Manhattan’s West Side. Emery Roth and the iconic twin towers of the San Remo.

—LI Herald

Former Savills Head Michael Colacino Joins Digital Brokerage SquareFoot as President

Colacino was originally in talks to become a strategic advisor to the seven-year-old SquareFoot, but the position eventually turned into the role of president once Jonathan Wasserstrum, the CEO and co-founder, realized the pair have “very similar visions” for where the company should go. “It was a no brainer,” Wasserstrum said. “I pinch myself every day when I come into work and I see him still sitting there.”

—Commercial Observer

A Canopy by Hilton is Coming to Boston in 2021

“We are confident that this development will become an integral part of the historic Blackstone Street Block and the nearby North End as a result of its incredible location along the vibrant Greenway circuit,” said Andrea Olshan, CEO of Olshan Properties, in a press release.

—Boston.com

Long Island City Meets Co-Living: The Story of ALTA+

“My partner Jonathan and I acquired the site in 2014 because of our belief that Long Island City was poised to continue to see growth as an emerging neighborhood. ALTA’s location in Long Island City, surrounded by transportation, and minutes from Manhattan by subway, bus or car, made for an attractive development project.”

—Multi-Housing News

The Famed Aman Luxury Brand is Bringing a Hotel and Condos to South Beach

Jonah Sonnenborn, managing director and head of Real Estate at Access Industries, said in a press release that “transformational neighborhood investment” is a hallmark of the company’s investment strategy. “The Faena District is now a renowned hospitality and lifestyle destination, and positively contributes to Miami Beach. Versailles expands this mission even further, and we are thrilled to find a partner who shares [Access Industries founder Len Blavatnik’s] insight. OKO and Aman are the ideal partners to complete the vision for the Faena District.”

—Miami Herald

Snøhetta’s Transformed Public Space at 550 Madison Avenue will bring a Much-Needed Oasis to Midtown

“Philip Johnson and John Burgee’s vision for 550 Madison was to create not only a unique office building but a dignified and attractive community amenity with public open space,” said Erik Horvat, managing director of real estate at Olayan America. “As the largest outdoor space of its kind in this district, the garden at 550 Madison will be a new anchor point in the heart of Midtown Manhattan, and a huge amenity to the local community and our world-class office tenants.”

—6sqft

Clarity Brings New Opportunity Zone Investment: Tillman (Radio)

Mike Tillman, CEO of PTM Partners, on responsible investing in opportunity zones.

—Bloomberg

Where Top VCs are Investing in Real Estate and Proptech

What trends are you most excited in real estate tech from an investing perspective?
We like to track trends that play out in the broader real estate markets. Due to low interest rates and cap rate compression, real estate investors are now looking for yield through investments in non-traditional asset types. Industrial real estate has performed very well over the last few years, and we see a push toward workforce housing, medical real estate, and senior housing. We are looking at investing in technologies that benefit processes within these non-traditional asset classes.

—TechCrunch

Ladder Capital Lends $45M on Bronx’s Bruckner Building Buy

“The Mott Haven submarket of the South Bronx is experiencing a surge in commercial and residential demand,” Gil said in a statement. “Our client was strategic about the Bruckner Building’s location and its ability to compete long-term in this submarket. Lenders were excited about the combination of sponsorship, location and the upside in the submarket and positive cash flows.”

—Commercial Observer