By The Editors | January 24, 2011 | 6:14 pm
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»
In a breakup that reverberated across the real estate press, the brothers behind the Rockrose Development Corporation--Henry, Thomas and Frederick Elghanayan--divided their interests and spread their wings last year. While Henry continued on under the Rockrose name, Thomas and Frederick spun off to create TF Cornerstone last September. Frederick Elghanayan, 62, sat down to talk about the firm's first year, the Rockrose split and his construction... MORE >
For Paul Revson, a 25-year real estate veteran with time served at both the Staubach Company and Studley, the second go-around at the latter has been a charm. Since returning to the firm in 2007 as an executive managing director after a five-year stretch at Staubach, the agent and his partner, Zev Holzman, have tallied back-to-back banner years. As of last week, in fact, their small team has inked more than 300,000 feet of deals... MORE >
A German investment fund has dropped $55 million on the Soho space occupied by racy British clothing store All Saints. Invesco Immobilien Fonds IV U.S. Partners, a U.S. vehicle for German investors, has bought the 20,000-square-foot, first-floor retail space owned by Thor Equities. The six-story loft building at 56 Crosby Street on Broadway was converted to luxury condos in 2000 by Howard Katz' Surtsey Realty Corporation. All Saints, of the infamous ram's skull logo, opened... MORE >
The redevelopment of the World Trade Center site was delayed for years after 9/11, due in large part to in-fighting amongst the project's numerous constituencies. Yet despite considerable progress over the past year, a corner of the project could hit a snag due to issues well outside the 16-acre... MORE >
Africa Israel USA, the American arm of Israeli billionaire Lev Leviev's company, was one of the top real estate players when the bubble was at its biggest. Which is to say a lot of expensive investments—The Apthorp, the old Times Building, the MetLife clock tower building on Madison Square Park—have since... MORE >
The recession has famously ripped some mega-holes in the Manhattan retail landscape, though many of those have already been filled by mega-stores. Some looming vacancies will still be keeping the brokers busy in 2011, everywhere from West Chelsea to Washington Heights. Check out a list of 2010's top retail vacancies, courtesy of PropertyShark, a few of which might surprise... MORE >
With retail and other sectors of the real estate industry beginning to rebound, Sierra Realty executive vice president Peter Braus and his colleagues are in the enviable position of being the marketing agent for 140 William Street, which currently boasts more than 40,000 square feet of vacant space. Meanwhile, the firm has been tapped as a food consultant for the proposed Pier 57 mixed-use project, which could become a culinary hub for the city.... MORE >
By Sam Chandan | December 9, 2010 | 11:12 am
By the official measure, 18 months have passed since the end of the nation's longest postwar recession. Consistent with the modest pace of growth that has followed and with excessive slack in the economy's now idle resources, labor markets have registered only middling improvements during this year's tentative recovery. The recalcitrance of the job market was underscored just last Friday, with the release of data for November measuring a rise in the national unemployment rate... MORE >
By Robert Knakal | December 9, 2010 | 11:09 am
Given the ICSC convention in New York this week, we will take a look at the investment-sales market for properties where retail stores are the primary drivers of... MORE >
Elbow your way through the throngs in Times Square to the tune of a dozen foreign languages and you may understandably reach one conclusion quickly: Retail is back, baby. Some claim the biggest spending slump in decades has ended, as confirmed by a 6.4 percent surge in Black Friday sales across the country and the strongest November sales figures in years, according to the National Retail Federation. In terms of the local real estate industry... MORE >
Chelsea West 23rd Street Complex Hardly a reputed bargain hunter, Saks has started a trend in snapping up affordable office space. After the department store owner quintupled its space this summer with a 28,000-square-foot lease in Chelsea's West 23rd Street complex, it's spawned several imitators. Three tenants have signed 83,000 square feet of deals in the... MORE >
Call her superstitious, but when the Robert K. Futterman & Associates broker Karen Bellantoni recently went shopping last month at Rag & Bone, the excursion was more than a simple... MORE >
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15 Little West 12th Street Nothing makes a chilly converted warehouse feel like home better than some trendy furniture. Thus, the neighbors are sure to welcome the arrival of Arhaus Furniture. This marks the second lease for once troubled 15 Little West 12th, the creation of arty mogul Robert Isabell, who got a hand with the financing from Taconic Investment Partners. The latest lease brings the office and retail portion to 60 percent... MORE >
On Saturday afternoon, a security guard sat in the back seat of an idling white jeep, watching over a 2.1-acre patch of dirt near the Gowanus Canal in Brooklyn. There was an overflowing can of garbage next to the car's front bumper and a puddle of groundwater nearby. Just across the canal, against the backdrop of cement silos, elevated tracks and the Kentile Floor sign over an old asbestos tile factory, a backhoe clawed... MORE >
Ask most New Yorkers how they feel about the acres of construction scaffolding encircling the city's buildings, and they will respond with contempt. Short of keeping construction debris and rain off our heads, their main job is to annoy. Scaffolding blocks out the sun and the beautiful architecture. It makes jaywalking and tourist-passing all the more difficult. And now, it helps burglars break into... MORE >
345 Adams Street As if there weren't enough reasons to be merry and 10 pounds heavier this holiday season, the irresistible aroma of French toast bagel sandwiches and toffee nut shortbread is coming to Brooklyn. Panera Bread will open its first location in the borough, directly across from the much-anticipated Shake Shack. The bakers have taken 4,500 square feet, including 2,200 square feet on the ground floor and 2,300 square feet above, for 15... MORE >
Charles Bagli has been covering the epic real estate battles of New York City for nearly a quarter of a century.... MORE >
349 Fifth Avenue You might one day be able to find a table at Starbucks again, if We Work has its way. The providers of temporary office space with hipster-inspired décor have leased the entire office portion of 349 Fifth Avenue, at 34th Street. The Brooklyn company was born to provide relief to lonely freelancers for roughly the cost of 30 overpriced cups of coffee a... MORE >
120 Wall Street When choosing office space, it's probably best to keep your friends close and forget about your enemies. At least that's what a consultant to nonprofits has concluded in landing at 120 Wall... MORE >
Steven Spinola, the all-powerful head of the Real Estate Board of New York, seems to think... MORE >
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