Commercial Observer

San Francisco-based fintech firm Plaid has signed a deal for 45,300 square feet at the corner of SHVO's 530 Broadway, where it plans to relocate and expand its New York City offices?from the nearby?Puck Building. Howard Hersch?and?Jennifer S.?from?Newmark negotiated on behalf of Shvo. Read more: https://lnkd.in/eePVB7vR Pictured Michael Shvo, CEO of SHVO

Taconic Partners?has landed $46.6 million of acquisition financing to purchase a New Jersey industrial asset. J.P. Morgan Chase?provided the loan on Taconic’s $74.3 million acquisition of a 360,000-square-foot Class B logistics facility at?1735 Jersey Avenue?in North Brunswick, N.J., The property was previously?acquired?for $18.9 million in late 2017. Read more: https://lnkd.in/exXujr-s Pictured: Chris Balestra, president and chief investment officer at Taconic Partners

KS Group has outlined a $1.2 billion construction package for Alma Realty Corp's Astoria Cove Development. The project has been stalled since 2014, but $300 million in recently secured construction financing has set the stage for another $900 million in future financing. Pictured: KS Group Managing Partners Yehuda Kotkes and?Daniel Spiegel Read more: https://lnkd.in/edtxXu7J

The privatization of mortgage market giants Fannie Mae and Freddie Mac — a priority of the Trump administration — could unleash a lot of capital for new development. It could also cause a sharp spike in borrowing costs for housing. Also for today: The troubled Forever 21’s real estate footprint is up for sale.

Digital Asset, which creates software for digital asset management and financial markets, has signed a 10-year lease for 12,000 square feet on the entire 17th floor of?Trinity Church Wall Street’s?107 Greenwich Street. Asking rent was $80 per square foot. Savills’?Kirill Azovtsev,?Slava Vaynberg?and?Jim Wenk?brokered the deal for the tenant, while Trinity was represented in-house by?Matthew Fox?along with?JLL’s?Andrew Coe?and?John Wheeler. Read more: https://lnkd.in/e6xwNr2a

Gary Barnett’s?(pictured) Extell Development?has finally hit landfall in his decade-long pursuit of owning the full block of Fifth Avenue between West 46th and West 47th streets. Barnett plans to build a 29-story office and retail building anchored by?Ikea?along a stretch of Fifth Avenue. Read more: https://lnkd.in/e7eceB5X

Forever 21’s expansive real estate portfolio has hit the market after the sinking clothing retail brand filed for bankruptcy last weekend. The full portfolio includes approximately 360 store leases across major U.S. markets totaling 7.6 million square feet, in addition to the company’s headquarters office and distribution warehouse space. RCS Real Estate Advisors?listed for sale fewer than 100 Forever 21 store leases around the county, amounting to more than 2 million square feet of retail space. Pictured: Spence Mehl, partner at RCS Real Estate Advisors Read more: https://lnkd.in/eJa6bXh5

A buyer linked to brokerage?KSR?has acquired a Lenox Hill townhouse — which has retail and apartments — for $27.5 million. he buyer, which used the entity?34E61, purchased the five-story building at?34 East 61st Street?from an entity tied to?CHRISTIAN ADVOCATES SERVING EVANGELISM, a nonprofit led by conservative activist and lawyer?Jay Sekulow (pictured). Read more: https://lnkd.in/eZsf74vx

Fannie Mae and Freddie Mac privatization carry risks and rewards for real estate — potentially unleashing tens of billions in fresh capital for housing construction but also driving mortgage rates a lot higher. Pictured: Bill Pulte Read more: https://lnkd.in/eantsjFe

Why can the Department of Government Efficiency move so fast on government lease deals? Read the story: https://lnkd.in/eUFFiZJu