Gucci owner pays nearly $1B to scoop up tower on red-haute Fifth Avenue
Gucci's owners purchased a prime Fifth Avenue retail property on Monday for a whopping $963 million. This could mean an exit from its flagship store for rival fashion house Armani. Gucci's parent company, Kering, is building a 115,000-square-foot, three-story retail space at 715-717 Fifth Avenue at East 56th Street, at the base of a 28-story […]
2 in Oklahoma accused of toppling country radio station tower to steal $100 in copper
A man and woman have been arrested on suspicion of destroying part of an Oklahoma radio station's 500-foot tower to steal copper, Choctaw County Sheriff Terry Park said. This tower in Hugo belongs to Payne Media Group's station K95.5. The radio station posted a video of the damage on Facebook following the vandalism on January […]
Blackstone’s defaulted NYC office tower being sold at more than 50% discount
More than a year ago, Blackstone defaulted on a $308 million mortgage on a Manhattan office tower, and that debt is now on sale at a discount of more than 50%. Special servicer Midland Loan Services was hired by brokerage firm Jones Lang LaSalle to sell Blackstone's loans. The loan is backed by 1740 Broadway, […]