Newmark | June 15, 2021
On behalf of Nightingale Properties and Wafra Capital Partners, Newmark announces the completion of a purchase and construction financing for 111 Wall Street in New York. The frequent institutional joint venture partners will reposition and redevelop 111 Wall Street into a one-of-a-kind Class A office location in the heart of Downtown Manhattan with a debt package surpassing $500 million.
The Newmark team secured the debt, led by Dustin Stolly and Jordan Roeschlaub, Vice-Chairmen and Co-Heads of the New York Debt & Structured Finance team. Nightingale was represented by David Blaivas of Blaivas & Associates, P.C., while WCP was represented by Michael Lefkowitz of Rosenberg & Estis, P.C.
111 Wall Street offers a solid and unrivaled waterfront site with panoramic and perpetually protected views of the Manhattan and Brooklyn skylines, New York Harbor. The East River, situated on a complete city block between Wall Street and Gouverneur Lane. 111 Wall Street is close to Wall Street Pier 11 (which is served by the NYC Ferry, NY Waterway, NY Water Taxi, SeaStreak, and New York Beach Ferry), as well as the 1, 2, 3, 4, 5, A, C, E, J, R, W, and Z subway lines and the Wall Street Helipad.
With cutting-edge and highly configurable office space designed by Studios Architecture, the landmark 25-story property, covering nearly 1.2 million square feet, will redefine the Downtown Manhattan workplace. The URBN Playground-designed tenant amenities will be wholly incorporated into the 111 Wall app and accessible via renters' cellphones. Nightingale and WCP will outfit the entire building with the latest in touchless and smart-building technologies, catering to the future workplace and servicing employees in a post-COVID environment. In addition, the joint venture partners will develop a white-glove, tenant-only amenity program spanning more than 40,000 square feet in the basement andground floor.A 125-seat conference center, multi-purpose room, event space, a bike and scooter charging area, upmarket food and beverage choices for tenants, a café and barista bar, and 111 WELL fitness center will be among the tenant facilities. Once completed, 111 Wall Street will match the needs and appeal to select tenants, catering to the nation's most sought-after talent pool, with its boutique, premium hospitality feel, and first-class service.
Nightingale and WCP will construct a new curtain wall, floor-to-ceiling View Smart Glass windows, a significantly expanded and altered office lobby, and new destination dispatch elevators. The property will include state-of-the-art MEP systems, VRF HVAC systems with no perimeter convector coverings, and fully redundant power systems as part of a major infrastructure overhaul. 111 Wall Street will be LEED Silver certified and Wiredscore Certified, and tenants will have access to various signage and branding options. 111 Wall Street offers prospective residents distinctive "structure" experiences, with three different elevator banks seamlessly connected to three unique entrances.
Nightingale and WCP's experience, collective capitalization, frequent cooperation, and portfolio breadth enable the coupling of best-in-class sponsorship and business plan execution. In addition, the partnership has a proven track record of success, and it now has joint interests in multiple properties and development projects totaling more than five million square feet.
Newmark Group, Inc. and its subsidiaries are a global leader in commercial real estate services, offering a full range of investor/owner and occupier services and solutions. Our integrated platform drives every aspect of owning or occupying the property. Our services are tailored to each customer type, from owners to occupiers, investors to founders, developing startups to leading corporations. We bring ingenuity to every trade and inspiration to every environment by harnessing the power of data, technology, and industry expertise. Our 18,800 employees work from around 500 offices worldwide in collaboration with our London-based partner Knight Frank and independently-owned offices.
Raken | September 18, 2020
Raken, the top-rated mobile field management solution for the construction industry, today announced the Segmented Daily Reports feature to enhance its product offering. The newly released feature allows field teams to submit multiple daily reports for complex projects, providing better visibility into site progress, improved organization and more streamlined internal communication. Segmented Daily Reports enable users to create multiple daily reports for each building or location and submit timesheets that reflect 24/7 work hours for different crews. Field teams are able to collaborate to provide a full picture of progress by submitting individual reports on a single project. Previously, field management apps limited daily reports to a single submission per day, complicating the documentation of jobsites that require multiple foremen, shifts, locations or phases. Collaborating on a single report has historically been a struggle for field teams, as it requires extra coordination at the end of the day and often results in incomplete and inconsistent reports being shared with stakeholders. With Segmented Daily Reports, crews can submit their own individual reports, on their own time, with greater detail—which are then automatically aggregated into a single document for better visibility in the office.
Bridgit | November 10, 2020
Bridgit, the leading provider of construction resource management solutions, today announced it has launched an integration with Autodesk®, following news of a $7 million USD strategic investment led by the company. Bridgit Bench is now integrated with BIM 360® and BuildingConnected®. Customers can add and edit a project in Bridgit Bench from BIM 360 or BuildingConnected, log in to Bridgit Bench with their BIM 360 credentials, and open Bridgit Bench in a BIM 360 Partner Card. BIM 360 and BuildingConnected are part of Autodesk Construction Cloud™, a portfolio of software and services that combines advanced technology, a builders network, and predictive insights. The connections between Bridgit Bench and both BIM 360 and BuildingConnected are powered by Autodesk Construction Cloud Connect. Integrating project data between Bridgit Bench and BIM 360 or BuildingConnected and accessing Bridgit Bench using BIM 360 credentials reduces double entry for users, minimizes potential discrepancy errors, and breaks down silos between the systems, giving customers the ability to enhance resource management during preconstruction and site construction.