NEW YORK — Gramercy Property Trust, a NY real estate investment trust specializing in commercial properties, has launched a new joint venture to acquire, own and manage Class A distribution centers leased to top e-commerce tenants on long-term leases across the country. The Company is in discussions with several institutional capital partners and has reached an agreement with …
Macy’s Names New President, Cuts 100 Jobs
Macy’s, the nation’s largest department store chain, has chosen eBay executive Hal Lawton as its new president. The company is also creating a single simplified merchandising organization and increasing focus on the company’s data analytics capabilities. Macy’s expects to reduce its workforce by 100 jobs as a result of the changes. Hal Lawton will take over as president of Macy’s, effective Sept. 8, 2017. …
PATH Ridership Sets Record in July
Average weekday ridership throughout the PATH system in July reached a record 298,000 passengers, a 9.2-percent increase over the previous year. This was the highest average weekday ridership for any month since the Port Authority took over the rail line in 1962. Six percent of the weekday increase consisted of NJ Transit ticket holders cross-honored …
SNA to Unveil Highest-Resolution LCD in Times Square
NEW YORK — On Wednesday, Sansi North America (SNA) Displays, a leading manufacturer of custom LED displays and lighting solutions, will unveil a massive wrap-around LED screen at 20 Times Square (701 7th Avenue). New York City’s newest large-format LED video spectacular will be the highest-resolution LED screen in the bright history of Times Square. “We are excited to unveil this …
CIT Provides $60 Million Financing for Condo Project
NEW YORK — CIT Group said that its Real Estate Finance business has provided a $60 million senior secured construction loan to Edward J. Minskoff Equities, Inc. (Minskoff Equities), a privately held real estate investment and development firm. The money will be used towards the development of a six-story, seven-unit luxury for-sale residential condominium located at 17 Jane Street in NYC’s West …
Deloitte Digital to Redesign Chipotle Apps
NEW YORK — Chipotle Mexican Grill has selected Deloitte Digital to redesign its mobile apps. Deloitte Digital is a division of Deloitte Consulting LLP. The firm will redesign Chipotle’s iOS and Android ordering apps as it focuses on digital ordering and enhancing the customer experience. Chipotle plans to launch the new apps in the fall of 2017, with additional channels …
SL Green Sells 16 Court St. in Brooklyn
NEW YORK — SL Green Realty Corp., New York City’s largest commercial landlord, announced an agreement to sell 16 Court Street, a 317,600 square foot office building in Brooklyn, NY, for a gross sale price of $171.0 million to CIM Group, a full service real estate and infrastructure fund manager. This transaction is expected to close during the fourth quarter of 2017, …
Bon Appetit Names 10 Best New Restaurants
NEW YORK — Bon Appétit has unveiled The Hot 10: America’s Best New Restaurants 2017 in the September issue of its magazine. Taking the top spot is New Orleans’ Turkey and the Wolf, a quirky, nostalgic, counter service–only sandwich spot. It joins past winners like Atlanta’s Staplehouse (2016), San Francisco’s AL’s Place (2015), and Washington, D.C.’s Rose’s Luxury (2014). Hart’s of Brooklyn was ranked No. 5 on the …
Millennium UN Plaza Hotel to Join Hilton Brand
NEW YORK — The ONE UN New York hotel will join the Hilton network as Millennium Hilton New York One UN Plaza on August 30. It will become Hilton Hotels & Resorts’ seventh local property. The landmark hotel, situated alongside the United Nations headquarters, has long welcomed both leisure and business travelers, and the world’s most …
Hainan to Offer Chengdu-to-JFK Flights
BEIJING — China’s Hainan Airlines is scheduled to launch non-stop service between Chengdu and New York’s JFK Airport on October 26, 2017. Following the roll-out of the Chengdu–Los Angeles service, this will be Hainan Airlines’ second direct flight from Chengdu to North America. With the new service, travelers will be able to fly directly from …
Key Corp to Acquire Cain Brothers Investment Bank
KeyBanc Capital Markets Inc., the corporate and investment banking unit of KeyCorp, has agreed to acquire Cain Brothers & Company, LLC, a healthcare focused investment banking firm. Following the closing of the deal, Cain Brothers will become a division of KeyBanc Capital Markets. Founded in 1982 and headquartered in New York City, Cain Brothers employs 100 people …
Delta Begins Construction at LaGuardia Airport
NEW YORK — Delta broke ground last week on its $4 billion, 37-gate facility at LaGuardia Airport, a major component of the transformation of the vital hub into a completely rebuilt, 21st-century airport. Delta’s new state-of-the-art terminal will feature four concourses with 37 flexibly sized gates that can accommodate Delta’s full fleet; a new, larger Delta …
E-Trade Adds 21 ETFs to Company Offerings
NEW YORK — E*TRADE Financial Corporation has made a significant expansion of its commission-free exchange-traded fund (ETF) lineup: Since March 1, 2017, E*TRADE has added 21 commission-free ETFs from seven providers to its Commission-Free ETF Program. With these additions, E*TRADE now offers a total of 149 non-proprietary, commission-free ETFs—one of the largest offerings in the industry. New additions include ETFs from ACSI …
Mike Tirico to Broadcast Notre Dame Football on NBC
Veteran NBC broadcaster Mike Tirico will join the network’s coverage of Notre Dame Football this season as its play-by-play voice. Tirico will be joined by analyst Doug Flutie, who returns for his third season, and sideline reporter Kathryn Tappen, who returns for her fourth season. Tirico called three Notre Dame Football games on NBC last …