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Report: Biggest Three Commercial Sales of 2013 All Top $1B
30 Rockefeller Plaza There were three whopping commercial deals in New York City last year in the trillion-dollar price range, blowing away the other commercial transactions for the year in terms of...
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2014 NYC Building Sales Outpacing 1Q 2013 by $3B
Time Warner Center The New York City investment sales market is on fire this year, with the first two months of 2014 trouncing the first quarter of last year in dollar volume, according to a new report...
View ArticleUnited Overseas Bank Lends $19M to Iconic New York Retail Investment Firm
The Chera family’s real estate firm Crown Acquisitions took a $19 million loan from United Overseas Bank to fund the recent acquisition of a retail building at 144 Fulton Street in Lower Manhattan,...
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Homeware Outposts Beat a Hasty Retreat from East 59th Street
Crate & Barrel is gone from its Manhattan flagship and siblings Williams-Sonoma and Pottery Barn are in the process of shutting down shop on East 59th Street, leaving the highly-trafficked street...
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Owners of Former Playboy Club Repositioning East 59th Street Building
The former Playboy Club, a Class B Plaza District building on East 59th Street off of Fifth Avenue, is being repositioned for one tenant to house retail and a showroom with offices above, Commercial...
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Details Revealed About Bottega Veneta’s New East 59th Street Lease
Luxury leather goods retailer Bottega Veneta is leaving The St. Regis New York hotel on Fifth Avenue and moving an avenue east to the corner of East 59th Street, a source with intimate knowledge of the...
View ArticleScott Bessent’s New Hedge Fund Takes Space at 650 Madison Avenue
The man who has managed George Soros’ $30 billion fortune for the last four years, Scott Bessent, has found a headquarters for his new hedge-fund firm at 650 Madison Avenue between East 59th and East...
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Muji Scoops Up Former Williams-Sonoma Space on East 59th Street
Japanese retailer Muji is on a tear through New York City. The clothing and home goods chain opened its first Brooklyn outpost in Williamsburg last week, and now it has leased space for another...
View ArticleRalph Lauren Takes Another 350K SF at Starrett-Lehigh Building
Clothing company Ralph Lauren will take another 350,000 square feet in the Starrett-Lehigh Building to consolidate several of its nearby Manhattan offices, the company announced. The 10-year deal...
View ArticleSotheby’s Brokerage to Grow With Move to New Madison Avenue HQ
Luxury residential brokerage Sotheby’s International Realty will relocate and expand its Upper East Side headquarters, the company announced in a release. Sotheby’s will relocate to 650 Madison Avenue...
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O Canada! With China Ghosting American Real Estate, Our Nation Looks North
“Wherever you go in the world, you just have to say you’re Canadian and people laugh,” John Candy once reportedly said. But who’s laughing now? Over the past 18 months, headlines have homed in on...
View ArticleFour Banks Refi Vornado’s 650 Madison with $800M CMBS Package
A joint venture led by Vornado Realty Trust has refinanced previous acquisition debt on 650 Madison Avenue with an $800 million package from Citi, Barclays, Goldman Sachs and BMO Harris Bank,...
View ArticleInvestment Firm LTS One Opens First Office at 650 Madison
LTS One, an investment firm recently launched by the billionaire co-founders of 3G Capital, which helped build brands including Anheuser-Busch InBev, will open its first office at 650 Madison Avenue,...
View ArticleRalph Lauren Renews Flagship Store Lease While Reducing Office Footprint in...
Ralph Lauren is reconfiguring its footing on the Upper East Side. The company will keep its lavish Madison Avenue flagship store while cutting its office just a few blocks south by nearly 40 percent....
View ArticleSunday Summary: So Long 2023!
As the ball prepares to drop in Times Square, we can bid farewell to 2023. It’s no secret that 2023 hasn’t exactly been the best year for commercial real estate. If you need proof, take a look at...
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