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“#Extell’s 5th Ave tower may have to build around mystery holdout” When Extell Development Corp. builds a long-awaited supertall office-and-retail tower at the corner of Fifth Avenue and 47th Street, one piece will be conspicuously missing from the 1,100 foot-tall giant — the actual corner of Fifth Avenue and 47th Street. A mysterious Korean company…
“#Crowne Plaza Hotel in Times Square entangled in legal battle” The towering Crowne Plaza Hotel — a once brightly lit but now mostly dark skyscraper in the heart of West Midtown — is entangled in a bitter legal struggle with no easy end in sight. Publicly traded developer/landlord SL Green owns a sliver of land beneath the 46-story…
“#Glamorous, trendy Times Square hotel tower has new owners” A Natixis-led lenders group won control of 20 Times Square in a Jan. 26 public foreclosure auction when outside bidders failed to top their offer, Realty Check has learned. The brightly lit, 42-story tower at Seventh Avenue and West 47th Street is home to the marquee-name Times Square…
“#Despite work-from-home worries, Manhattan office real estate is doing just fine” The office from which I write this column is mostly empty. So are the offices of many different companies — banks, law firms, media — I can see from the New York Post’s Midtown windows. But does it portend a dystopian future of deserted…
“#NYC developers poised — but hesitant — to break ground on slew of projects” A whole new Manhattan skyline will emerge when a dozen-odd planned new projects that have yet to break ground hoist their final I-beams. The big question is: Which, if any, of them will actually start construction in 2022? A glance at the…
“#Manhattan skyscraper snags its own builder as a tenant” The Spiral is adding a large new tenant who won’t have to ask where the elevators and the bathrooms are when it moves in. That’s because Turner Construction Company, which just signed a 13-year, 75,000-square-foot lease, is actually building the new Tishman Speyer tower on the…
“#Grand Central skyscraper would bring new LIRR connection” Modern dance, film screenings and perhaps knitting classes will enliven the outdoor scene at 175 Park Ave., the cloudbusting skyscraper that’s proposed to replace the widely unloved Grand Hyatt Hotel on East 42nd Street. The fun fests are planned for public-accessible terraces on three sides of the tower….
“#ViacomCBS selling its CBS studio for $1.8 billion: report” ViacomCBS is selling its CBS Studio Center in Los Angeles for $1.8 billion to a pair of acquisitive real-estate firms, according to a report. Hackman Capital Partners and Square Mile Capital Management had the winning bid, beating out roughly a dozen parties, The Wall Street Journal…
“#Stunning but bankrupt NYC hotel gets second chance” Call it the phoenix of Greeley Square. The landmarked, but empty and construction-marred Martinique Hotel will soon rise from the ashes, thanks to a just-closed, hard-won leasehold purchase of the long-troubled property at Greeley Square. The previously bankrupt hotel will reopen in stages starting as early as…
“#NYC’s hottest real estate gala to return in December” The city’s real estate business is coming back with a vengeance — and with shrimp, sushi, caviar and champagne. To the delight of dealmakers and moguls, the annual Fried, Frank holiday party is coming back on Dec. 7 after a year off for the pandemic. …