Durst Organization Nabs $100M Loan at 825 Third Avenue
The Durst Organization landed $100 million of financing from JPMorgan Chase Bank on its 40-story Midtown East office building at 825 Third Avenue, according to property records made public on Thursday The three-year loan, which closed on April 4, will help pay for a recent $150 million renovation that upgraded nearly every aspect of the property including its mechanicals and windows, Lucas Durst, a financial associate at the firm and Jonathan Durst’s son, said in a statement. “The proceeds will help back-pay for building improvements that have already been made and for [tenant improvements] and other improvements as we lease…
Date 2022-04-26
Author Celia Young
Finback Brewery Opening Third NYC Outpost in Long Island City
Long Island City, Queens’ brewery game is about to get a bit stronger Finback Brewery plans to open a 3,800-square-foot microbrewery and taproom at the base of the Sven luxury residential tower at 29-59 Northern Boulevard, the New York Post first reported. The brewery — known for its India pale ale and stouts — signed a 15-year lease for the ground-floor space, where it plans to focus on “fruit-forward” sour beers conditioned in “wooden foeders [large barrels] and ceramic fermentation crocks” when it opens later this year, according to landlord the Durst Organization. A spokesperson for Durst declined to provide…
Date 2022-04-26
Author Nicholas Rizzi
Queens-based Finback Brewery expands to Long Island City
One of the most popular breweries in the city — with locations in Glendale, Queens; and Gowanus — is expanding its reach. According to Commercial Observer, Finback is opening a brewery and taproom at the base of a luxury apartment building in Long Island City. The brewery, known for its range of IPAs, will be highlighting more fruit-packed sour beers at the new location, the publication reports.
Date 2022-04-26
Author Erika Adams
Glendale’s Finback Brewery to open new location in Long Island City luxury highrise
Finback Brewery will open its new taproom and on-site microbrewery in Long Island City later this year The Durst Organization announced that the Glendale-based brewery signed a 15-year lease to establish a 3,800-square-foot location in the Sven, the recently completed 67-story luxury residential tower at 29-59 Northern Blvd. on Queens Plaza North. It has a unique curved façade and wraps around the historic Clock Tower. At 762 feet, its height is second only to the Skyline Tower in Court Square just a few blocks to the south. Founded in Glendale more than a decade ago by owners Basil Lee and…
Date 2022-04-26
Author Bill Parry
Santander’s East Midtown tower has new owner with modern vision
East Midtown, a favored location for hedge funds and small financial firms, will soon have a prestigious new location for them After serving as Santander’s New York headquarters since 1991, the 134,000 square-foot boutique office tower at 45 E. 53rd St. is finally to be made available for other tenants. A joint venture of ZG Capital and Rialto Capital Management quietly signed a contract last week on an off-market deal to buy the tower for $105 million, Realty Check has learned. The seller was Florida-based MEK Management Services. The deal will close in 30 days. The new owners plan a…
Date 2022-04-26
Author Steve Cuozzo