Starwood Capital Site To Start Digging This Week
Shovels will soon start digging for a proposed hotel and condo development in the former site of the Donnell Library at 20 W. 53rd Street, reports this week’s “Sit-Down” subject Steve Cuozzo. The $400...
View ArticleIn The Navy: Andrew Kimball and Brooklyn’s Morphing Manufacturing District
As the entertainment and media bubble grows, Andrew Kimball’s head begins to hurt. “It makes me crazy when I hear an economist report on the sectors in the city and the manufacturing bubble is always...
View ArticleCBRE Reports Significant Growth in Six Major Manhattan Retail Corridors
Six of 11 prime retail corridors in Manhattan enjoyed substantial rent increases during the third quarter, according to a report released yesterday by CBRE Group Inc. Herald Square witnessed the...
View ArticleNYPL’s 58th Street Branch Renews
The New York Public Library’s 58th Street Branch has signed a 15-year renewal at Jack Resnick & Sons’ 110 East 59th Street, where it has been located since 1969. Asking rent for retail space in the...
View ArticlePicturing the Office Stairwell of the Future
Instead of dark and drab, imagine the stairwell of a commercial building with windows looking out to the street and vibrant colors on the walls. These simple steps could be the first stages in...
View ArticleNYPL Dumps Much-Maligned 42nd Street Renovation Plan
In an unexpected turn of events, the New York Public Library has abandoned a controversial plan to renovate the main branch of the library on 42nd Street, a move that would have hollowed out the core...
View ArticleNorges Bank Grows Fifth Avenue Office to 32K SF
Norges Bank, the central bank of Norway, has expanded its New York City headquarters at 505 Fifth Avenue from roughly 10,000 square feet to 32,000 square feet, Crain’s New York Business reported....
View ArticleFifth Avenue Shoppers Will Face Off With Straphangers Seeking Protection in...
The holiday season has ended and decorations have been coming down on Fifth Avenue. But as the lights and displays go away, another kind of street art will be going up. In the spring, there will be 15...
View ArticleRestoration Company Leaving Chelsea for Brooklyn’s Industry City
EverGreene Architectural Arts is departing Manhattan for Industry City in the Sunset Park section of Brooklyn, Commercial Observer has learned. EverGreene, one of the largest specialty contractors,...
View ArticleThe Playmaker: Savills Studley’s David Carlos Is the Go-To Guy for NYC’s...
For most commercial real estate brokers, the idea of working on a single deal for years on end would be unpalatable. In a demanding, intense business where time is money, expediency and prolificacy are...
View ArticleContractor Gets New Garment District Digs at 253 West 35th Street
A drywall and ceiling contractor plans to pack up its offices and move them a few hundred feet east down 35th Street in the Garment District, Commercial Observer has learned. Curtis Partition signed a...
View ArticleBrooklyn-Based EverGreene Architectural Arts Acquires DC Heritage...
EverGreene Architectural Arts, one of the largest specialty contractors, conservation and architectural arts studios in the United States, has acquired heritage preservation firm Conservation Solutions...
View ArticleInvestment Management Firm Ups Its Footprint at 110 East 59th Street
RP Management, which manages investments for pharmaceutical royalties firm Royalty Pharma, expanded its offices at 110 East 59th Street, Commercial Observer has learned. The firm signed a 10-year deal...
View ArticleCeruzzi’s $233M Debt on 520 Fifth Ave Is in Default and Up for Sale
Mack Real Estate Credit Strategies is putting the $232.9 million non-performing debt on 520 Fifth Avenue up for sale, according to an offering document shared with Commercial Observer. Mack provided...
View ArticleNew York Public Library Renews Its Soho Lease With a Big Rent Increase
The New York Public Library has renewed its lease for a 16,000-square-foot Soho location, but its rent will double. The library has inked a 30-year lease for its ground-floor space at 10 Jersey...
View ArticleTop 10 Leases of the Month: Do Schools Count as Retail?
Okay, we concede that the most massive retail lease of the last month was not quite as big as it seems. BMW took 227,000 square feet at SL Green’s 555 West 57th Street, but, yeah, the deal was for...
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A Tradition of Excellence
The epicenter of East Midtown is Grand Central Terminal, one of the most recognizable transit hubs in the country and an iconic landmark that draws thousands of visitors weekly. It connects New York...
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Urban Makeovers: Complex Renovations, Real Solutions
After many years of service, the New York Public Library needed a major upgrade. The planned $200 million renovation of its main circulating branch in Midtown was long-awaited but would involve...
View ArticleNew York Public Library to Lease 41K SF of Office Space at 270 Madison
The New York Public Library (NYPL) will be leasing three floors of office space in Midtown after signing a 33-year lease at 270 Madison Avenue. NYPL will occupy the 11th through 13th floors of the...
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