Author: hidrockwp

Bank of the Ozarks and Ladder Capital lent $45.5 million in funds for a seasoned New York City investment firm to buy a three-lot land assemblage in the Rockefeller Center area for $47 million, Mortgage Observer has learned. The buyer, HID Acquisition Group LLC, a subsidiary of Hidrock Realty, closed on the parcels last month and plans to build a residential condominium, Hidrock’s CEO said.

Malaysian company KSG Enterprised Ltd. is expanding its presence in the U.S. with the purchase of SpringHill Suites New York Midtown Manhattan/Fifth Avenue. The subsidiary of Hong Kong based Keck Seng, which mainly owns hotels and offices, has made its debut into the Big Apple by snapping up the Midtown Manhattan hotel asset for $82 million from Hidrock Realty and Robert Finvarb Companies.

Westchester landlord Robert Weisz’s first purchase in Manhattan is a big one. The CEO of real estate investment firm RPW Group has agreed to pay more than $80 million for 240 West 35th Street, Crain’s reported. The seller is Hidrock Realty, which purchased the 161,588-square-foot office building, located between Seventh and Eighth avenues, in 2008 for $58 million.

Eyal and Karen Hen started off as roommates.

Mr. Hen came to New York from Israel a dozen years ago after serving in the Israeli army, and shared a large apartment in Kensington, Brooklyn with several other Israelis.

A few years later, he recieved a Facebook message from Karen Rehany, who was from the same Israeli town, Nahariya. She was interested in coming to New York. His apartment had an available room; she jumped at the opportunity. He picked her up at the airport.

Each year, hundreds of enthusiastic young real estate agents find themselves rolling off the bus and landing in the city’s biggest brokerages, having left behind hometowns and college campuses in search of fame and fortune, wealth and wisdom—or, perhaps, just enough money to pay the monthly rent.

But commercial real estate has never been for the faint of heart, and thus for every college graduate who makes the cut as a junior broker at Jones Lang LaSalle and Avison Young, an equal number of determined peers find themselves marveling at just how disciplined the competition can be.