Flatiron foot traffic outpacing Fifth Ave.
[11:04 am, July 23, 2014 | No Comment | ]

An ABS leasing team is marketing retail space in a Flatiron corridor that has outstripped Fifth Avenue as the hottest spot for foot traffic.

John Brod and Gregg Schenker, of ABS Real Estate, commissioned a pedestrian traffic study at 915 Broadway, where the duo is marketing an 8,000 s/f ground-floor flagship space.

“I think this is a condition in the marketplace that very few retailers and real estate professionals are aware of and makes for a unique opportunity for tenants and brokers to be ahead of the curve with this knowledge and take advantage of,” said Schenker.

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Brokers Weekly »

[7:54 am, July 25, 2014 | No Comment | ]

● siras development / kuafu properties
Full of Eastern promise
A joint venture of Siras Development, a New York-based luxury real estate development group, and Kuafu Properties, the New York-based Chinese real estate investment and development company, have completed the acquisition of a Hudson Yards development site .
The partners will build a 380,000 s/f mixed-use project on the five adjacent parcels directly across from the Jacob Javits Center.
The tower will have 50 luxury condos in the top 15 floors; a 400-room hotel situated on 20 floors; the Shanghai Club, an exclusive membership …

Brokers Weekly »

[7:47 am, July 25, 2014 | No Comment | ]

TOWN Residential is partnering with the Hudson Union Society, a members-only group that promises to connect members of the public with world leaders in business, entertainment, science and the arts.
The group has drawn everyone from Sinn Fein leader Gerry Adams to Paula Abdul, Koffi Anan to Madeleine Albright through events that range from red carpet movie screenings to panel discussions.
As part of its collaboration with the group, TOWN will sponsor five HUS Insight sessions this year and next.
The sessions are conducted by HUS president Joe Pascal and upcoming guests include …

Brokers Weekly »

[7:41 am, July 25, 2014 | No Comment | ]

Citi Habitats agent Sarah Rose Katz was set to leave for Italy on a family vacation when an offer on her sales exclusive at 1628 Second Avenue #3C fell through.
Meanwhile, her colleague Josh Thissell was working with clients looking for a rental for their daughter who was moving to NYC to attend nursing school.
When they couldn’t find the right rental, Josh suggested they check out apartments for sale instead — and took them to see Katz’s listing.
“What sold them on the unit was the fact that the place was simply …

Brokers Weekly, Construction & Design »

[7:07 am, July 25, 2014 | No Comment | ]

By Holly Dutton
Midtown West and Williamsburg were hot neighborhoods for new development in the second quarter of 2014, according to a 2Q market report from real estate firm MNS.
In Manhattan, new development sponsor sales jumped up 13.3 percent since 1Q of 2014, with 333 sponsor units sold, up from 294.
Upper Manhattan is again proving to be a booming real estate market with 17 percent of all new development sales having taken place in Harlem — the most in the borough.
Total sales volume for new development were up 43.6 percent in …

Finance & Accounting »

[12:08 pm, July 24, 2014 | One Comment | ]

Arbor Realty Trust, Inc. (NYSE:ABR) announced the recognition of a $58 million net gain related to its investment in the 450 West 33rd Street property.
In 2007, the Company received net proceeds of approximately $58 million from the closing of this transaction and recorded a corresponding net deferred gain as a result of guarantying a portion of the property’s indebtedness.
In July 2014, the existing debt on the property was refinanced and the Company’s portion of the guarantee terminated, resulting in the recognition of the deferred gain for GAAP purposes.
The recognition of …

Property Managers »

[12:03 pm, July 24, 2014 | No Comment | ]

Hines announced that 7 Bryant Park, its 30-story, 470,000 s/fsignature office tower, has earned the distinction of becoming the first Wired Pre-Certified building in New York City, earning a Platinum certification — the highest attainable.
The certification follows a third party audit by technicians from WiredNYC, a program developed by the New York City Economic Development Corporation that evaluates and certifies the connectivity quality of commercial buildings.
It means that tenants at 7 Bryant Park, which is set to be delivered to the market in the first quarter of 2015, can have …

Deals & Dealmakers »

[12:02 pm, July 24, 2014 | No Comment | ]

After over 50 years of continuous occupancy, The Stahl Organization announced that its 50,000 s/f duplex office penthouse at 277 Park Avenue in Midtown is available for lease for the first time since the building was constructed in 1964.
The penthouse space, located on the 49th and 50th floors, is fully customizable, features a functional executive kitchen and offers unobstructed views of New York City’s East River, 59th Street Bridge and the Chrysler and MetLife Buildings.
Cassidy Turley will exclusively handle the leasing and marketing for the penthouse as well as two …

Construction & Design »

[12:00 pm, July 24, 2014 | No Comment | ]

Mayor de Blasio has mnamed Rick Chandler as the Department of Buildings Commissioner.
Chandler is a professional engineer and assistant vice president of facilities at Hunter College.
He brings years of large-scale management experience and expertise in the building code and zoning resolution to the job.
Chandler served as a Borough Commissioner of Queens, Brooklyn, and the Bronx from 1995-2002. As Commissioner, he will be tasked with ensuring the safe and lawful use of more than 975,000 buildings and properties in New York City by enforcing the Building Code, Electrical Code, Zoning Resolution, …

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