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“#New York City real-estate market shows signs of hope” New York City’s pandemic-battered property world resembles a nerve-wracking “seesaw” of “flights and drops,” as Henry James wrote of his neurotic protagonist’s mood in “The Turn of the Screw.” With any luck, Gotham will come through in better shape than James’ tragic heroine. On the dark…
“#Conde Nast blasted for skipping out on $2.4M in rent at One WTC” The landlord for Conde Nast has blasted the glitzy publisher of Vogue, Vanity Fair and The New Yorker for withholding some $2.4 million in rent for its now largely vacant headquarters at One World Trade Center. “Conde claiming that they cannot pay…
“#Manhattan’s ‘trophy’ office buildings begging for tenants” The dreaded “G-word” — as in glut — overhangs nearly 8 million square feet of space up for grabs in “trophy” office buildings that just opened or are set to open by the end of 2022. The tally we did with help from CBRE means nearly three Empire…
“#660 Fifth Ave. sheds Satanic address, to reopen in 2022” The office tower formerly known as 666 Fifth Ave. is putting Satan — and decades of ruinous mismanagement — behind it. Having shed the devilish address for unthreatening 660 Fifth, Brookfield Properties’ 1.5 million square-foot tower between East 52nd and 53rd streets is on track…
“#The Spiral at Hudson Yards set to reach a milestone” It’s topping-off day Tuesday for The Spiral, Tishman Speyer’s $3.7 billion, 66-story Hudson Yards District skyscraper, beribboned with a band of cascading, landscaped terraces and hanging gardens. It’s a milestone for the 1,041-foot-tall tower and for Tishman Speyer President/CEO Rob Speyer, who steered the project…
“#It’s buying time in the NYC real estate market” Even in today’s historically-worst commercial property market, things are not everywhere and always at their worst. Companies are still moving and growing. Here are some just-completed transactions that reveal a pulse beneath the surface. In a sign of life for the luxury retail scene, glam jeweler…
“#Park Avenue $1 billion office tower nears completion” It’s stepping-out time for 425 Park Ave., the 47-story, Norman Foster-designed office tower crowned by a trident of sky-piercing, 136-feet-tall illuminated fins. More than five years since the groundbreaking, L&L Holding Co.’s $1 billion gamble on Park Avenue’s future just received its temporary certificate of occupancy from…
“#Two NYC bars could make US history by selling for Bitcoin” A Big Apple bar owner is bowing out — and banking on Bitcoin with what could be the first cryptocurrency-only restaurant sale in the US. This week, Patrick Hughes put his side-by-side Hell’s Kitchen watering holes, Hellcat Annie’s and Scruffy Duffy’s, up for sale….
“#Landlords need vaccines to get employees back to offices” Landlords are praying that the launch of COVID-19 vaccines will finally send more employees back to their desks after the turn of the year. But there’s little movement so far, and some big tenants have hit the pause button on previously planned returns as they await…
“#Qatari sheikh buys Flatiron property for $40 millions” Alo Yoga, say “alo” to your new landlord — a mysterious Qatari sheikh whose charitable foundation has allegedly been flagged by his country’s Mideast rivals for suspected ties to terrorism. Qatari Sheikh Thani bin Abdullah bin Thani al-Thani closed on the $40 million purchase last week of…