Who was ravishing in red? Who wore a velvet tux? Whose arm was around whom's?Well, REBNY's 115th annual gala was no Golden Globes, but as far as the real estate biz is concerned, it was simply the biggest night of the year. All the big shots were there, at... READ MORE»
...Like most prominent New Yorkers, they get it from real estate, apparently. At least that is what a new study released by NYPIRG reveals--that 47 of Albany's 211 legislators list their outside source of income on disclosure forms as... MORE >
Just because they call it Washington Heights does not mean super-tall apartment buildings are welcome in the typically low-rise... MORE >
350 Fifth Avenue The Empire State Building is no stranger to grand entrances, but Li & Fung managed to muster an extra dash of drama. The Hong Kong-based clothing conglomerate has signed a 490,000-square-foot lease in the iconic tower-easily the biggest lease of the young year, and also trouncing all the leases of... MORE >
The performance of the 2010 investment sales market in New York City was indicative of a market still trying to find solid ground. Not surprisingly, the volume of sales showed significant improvement over 2009 levels. Very surprisingly, on the other hand, is the fact that values, on a price-per-square-foot basis, were lower in 2010 than in the prior year. Given quarterly volatility within each of these metrics, the investment sales market is clearly still... MORE >
Long one of the looming giants on the hunt for Manhattan office space, Deloitte has finally settled on roughly 430,000 square feet at 30... MORE >
311 East 76th Street Even the experts are scoping Craigslist for space these days. City Connections Realty is opening a flagship location at 510 Amsterdam Avenue, which they found on the Internet free-for-all that both brokers and newspapers love to hate. "It's not going to be a traditional place," David Schlamm told The Commercial Observer. "It will have a unique, fun, hip twist," he said, with illuminated awnings to conjure hipster haven the Gansevoort... MORE >
250 Hudson Street "We're at the end," Dennis Brady, executive managing director of leasing for Jack Resnick & Sons, told The Commercial Observer at the end of December. He was referring to 250 Hudson Street's march to full occupancy. "God willing, in the not-too-distant future, we'll be able to tell you it's 100 percent... MORE >
In his State of the Union address tonight, the president is expected to refocus his national policy agenda on the competing challenges of job creation and the precarious condition of our public finances. Exacerbating the lack of progress in the labor market and in developing concrete plans to address the deficit, last November's election results and the buildup to the next campaign necessitate more visible efforts on both... MORE >
Most streets in the Financial District are a warren of glorified cow paths and back alleys that date back to the Dutch settlement of New Amsterdaam. One of the rare exceptions is Water Street, which once was at the historic water line but was built out with landfill centuries ago. Now the street spans eight lanes and might as well be an expressway cutting off access between the increasingly active neighborhood and its burgeoning... MORE >
545 Madison Avenue If not a strike, it's at least a spare for LCOR at 545 Madison. The glassy Plaza tower has signed Strike Holdings, a commodity trader, for 6,877 square feet, pushing the building past half-full (as The Commercial Observer reported last week). The investment company has taken the entire 15th floor, including a terrace, for five... MORE >
Most of the talk about Walmart opening a store in New York City has focused on outlets at the edges of the outer boroughs or possibly small stores scattered here and there. But what if the big-box retailer opened a store in the heart of... MORE >
Who was ravishing in red? Who wore a velvet tux? Whose arm was around whom's? Well, REBNY's 115th annual gala was no Golden Globes, but as far as the real estate biz is concerned, it was simply the biggest night of the year. All the big shots were there, at least briefly. (Can you spot Mayor Bloomberg?) Everyone was smiling, especially the award winners. SLIDESHOW: The Best Shots of the Big Shots... MORE >
You can already follow the trail of Crumbs from the tip of the island almost to the top of Central Park. But the cupcake maker could eventually become one of the city's most ubiquitous food chains. "How many locations does Starbucks have?" Newmark Knight Frank's Jeff Roseman, who represents the tenant, asked The Commercial Observer rhetorically. We count 150, according to the company's Web site, and Mr. Roseman said Crumbs could have 50-plus locations in... MORE >
The Lipstick Building's problems are hardly cosmetic. The building pushes toward the sky in perfect oval layers, but beneath the smooth facade, the building has been smeared by bankruptcy and its association with the Madoff... MORE >
99 Wall Street There's never been a shortage of arm candy on Wall Street, but at least this kind is cheap and misogyny-free. Laila Rowe, which sells $12 necklaces for when your stock portfolio's looking wan, will open its first downtown location. The jewelry story has leased a 520-square-foot ground-floor space and a partial basement long... MORE >
Rafael Cestero took over HPD at about the worst time... MORE >
Welcome back. Happy and prosperous 2011. When last we met we were discussing the need to plan ahead--exit strategies in commercial leasing--with a focus on retail. A number of scenarios were mentioned, such as the plight of a local eatery with what was once a novel concept that had become totally dated. We distilled the tenant goal on transfers down to one word:... MORE >
112 West 44th Street It took only 10 minutes to frame a picture-perfect lease at 112 West 44th Street. John Grotto, of landlord the Durst Organization, went into Art Frame Gallery and persuaded the owners to come check out his space. Minutes later the tenant was ready to sign. "They liked the location," Mr. Grotto told The Commercial Observer. "It's a busy thoroughfare, with people walking east-west into Times... MORE >
There was no Ricky Gervais at last night's REBNY annual banquet, but obviously attendees had been watching the Golden Globes, as emerald green was the color of the night for all the lovely ladies of the city's building elite. There was even a gentleman in a green felt suit with matching Jets cufflinks. R-E-B-N-Y. REBNY REBNY REBNY. He was not, as we'd hoped, Woody Johnson.... MORE >
New York City Housing Preservation and Development head Rafael Cestero is leaving the Bloomberg administration to accept a job in the private sector, according to a release out from City Hall... MORE >
September 28, 2010
William Macklowe rubbed the bridge of his nose and said he was suffering from a sinus headache. It was the first sign of human frailty he'd allowed... READ MORE »
February 03, 2011
100 Park AvenuePerhaps nobody has told Wells Fargo that the United States-and the rest of the world-has been in the midst of an economic downturn. Indeed, during the past... READ MORE »
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