Boston Properties
Zuckerman Bullish on Buying More Buildings
Mort Zuckerman and company provided their now typical dose of depressing market predictions this morning during Boston Properties' second quarter earnings call.
Our favorite bleak comment came from President Doug Linde, who, in speaking about the challenges facing the average American consumer, said, "We don't see any immediate catalyst for optimism."
Such artful use of business-speak!
Clearly someone's been spending too much time with Mr. Zuckerman, who has taken to using his public appearances to intone about the dire straits of the American economy (not that his statements are without merit. But sometimes, it's just so damned depressing!).
Anyway, there were some silver linings to the clouds darkening the economic horizon. read more »
Zuckerman: GM Building Deal 'Closing As We Speak'
The GM Building sale is "closing as we speak." That's according to Mort Zuckerman, who is addressing a Real Estate Board of New York luncheon this afternoon.
Mr. Zuckerman's Boston Properties, along with partners including Goldman Sachs, negotiated the purchase of the Macklowe Properties building late last month in a deal that valued it at around $2.8 billion. It's the most expensive building sale ever.
Zuckerman's New GM Building Crew?
Boston Properties’ purchase of the GM Building has not even gone through yet, but it appears that Mort Zuckerman is already shaking things up at the Midtown office tower he and his partners are expected to formally own within the next week.
We visited the GM Building after the deal was negotiated over Memorial Day Weekend, and rumors were already circulating that current maintenance and security crews should expect their marching orders at the end of May.
This morning, a new doorman outside the Apple Store told us his employer Quality Building Services had recently gotten the contract on the GM Building, and Monday was his first day on duty. read more »
GM Building Deal Could Close Next Week, FAO Schwarz May Get Booted
Mort Zuckerman doesn't screw around.
His Boston Properties could close as early as next week on its $2.8 billion purchase of the GM Building, according to Reuters.
Just as intriguing, Reuters is reporting that Boston Properties is considering buying out the remainder of FAO Schwarz's lease on the ground floor, and the leases of other below-market tenants: read more »
