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The Metropolitan Transportation Authority has agreed to sell the air rights from the eastern yard to the City of New York for $200 Million.
The MTA will sell the air rights over the western yard for more than $ 500 Million once the land is re-zoned to developers.
7 Subway Line is to be extended at a cost of $2.15 billion and is to be paid for by the City of New York. Two new subway stops are planned. One stop is to be added at 43rd and 10th avenue and the other at 34th Street and 11th Avenue. The MTA is responsible for any cost over runs. The extension is scheduled to be open in 2012.
World Trade Center: New building designs were released for Towers 2, 3 and 4. Tower 2 was designed by Norman Foster and is to be the tallest of towers at 1,254 feet. Tower 3 was designed by Richard Rogers and is 1,155 feet tall and Tower 4 was designed by Fumihiko Maki and is the smallest at 947 feet tall. |
Manhattan Office Space Rentals: |
- Department of Transportation to lease and relocate to 429,000 Square Feet at 55 Water street from 40 Worth Street, 2 Rector Street and 59 Maiden Lane.
- Limited Brands leased 320,000 SF at 1740 Broadway.
- Akin Gump Strauss Hauer & Feld LLP leased 203,000 SF at One Bryant Park.
- Bear Stearns leased 150,000 SF at 237 Park Avenue.
- Bear Stearns leased 100,000 SF at 320 Park Avenue.
- EMC Corp. leased 71,000 SF at 2 Penn Plaza.
- Department of Transportation leases 429,000 SF at 55 Water Street.
- Citadel Investment Group leased 60,000 SF at 153 East 53rd Street, The Citigroup Center.
- Toyota Tsusho America leased 43,000 SF at 805 Third Avenue.
- Absolut Spirits Company leased 40,000 SF at 401 Park Avenue South.
- Mansueto Ventures LLC leased 39,750 SF at 7 World Trade Center.
- Sprint Nextel Corp. leased 37,400 SF at 1166 Sixth Avenue.
- HIT Entertainment leased 30,000 SF at 230 Park Avenue South.
- Fox-Pitt, Kelton leased 30,000 SF at 420 Fifth Avenue.
- Avaya leased 29,000 SF at 2 Penn Plaza.
- A.D. Sutton & Sons leased 27,000 SF at 20 West 33rd Street.
- Loeb Partners leased 20,320 SF at 61 Broadway.
- American Lung Association leased 20,000 SF at 61 Broadway.
- Wechsler Ross & Partners leased 20,000 SF at 641 Sixth Avenue.
- * Vacancy rate for Downtown office space is at 9.5%.
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New York City Buildings Sold : |
- 135 West 50th Street, the Sports Illustrated Building, an 800,000 SF office building, was sold to UBS Bank for $300 million.
- 200 East 62nd Street, The Wellington, a 115-unit apartment building, was sold to Calpers, Blackrock for $173 million.
- 165 East 66th Street, The Westminster, a 152-unit apartment building, was sold to Calpers, Blackrock for $154 million.
- 240 Church Street, a Development site, was sold to Senbahar S. Elias for $140 million.
- 220 East 63rd Street, The Meyberry House, a 193-unit apartment building, was sold to Jeff Goldberger, Atlas Capital Group for $100 million.
- 730 Columbus Avenue, The Westmont, a 16-story, 163-unit apartment building, was sold to Archstone Smith for $87 million.
- 597 Fifth Avenue, The Scribner Building, and 3 East 48th Street, 2 buildings, 77,097 SF total was sold to A & A Investments for $79 million.
- Diesel bought 220-230 West 19th Street, a 100,000 Square Feet loft for $53,000,000 to be used for its headquarters.
- The Utopia Center, Fresh Meadows, Queens, a 110,000 SF office and retail property, was sold to New Jersey Investment group for $51 million.
- 905 West End Avenue, a 13-story, 53-unit apartment building, was sold to Arnold Goldstein, Samson Management for $45 million.
- 31 West 27th Street, a 12-story, 128,000 SF office building, was sold to The Witkoff Group for $31 million.
- 85 Fifth Avenue, a 17,000 SF retail co-op, was sold to RFR Holding LLC for $24 million.
- 111 East 15th Street, The Century Center for the Performing Arts, a 5,000 SF theatre, was sold to Trinity Broadcasting Network for $13 million.
- MacFarlane Partners and Vornado Realty Trust and Integrated holdings bought 1800 Park Avenue from the New York College of Podiatric medicine where they will build an office tower with parking and retail.
- Extell is reported to have bought many existing buildings in the East Village between 10th street and 2nd Avenue.
- *The Extell Development Corporation has bought 17 properties in the East Village.
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New York City Buildings For Sale: |
- Albee Square Mall in Brooklyn reported for sale by Thor Equities. Asking price around $125 Million.
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New York City Major Pending Leases: |
- Viacom considering a 1.8 Million new construction headquarters in harbor side New Jersey. Viacom is currently at 1515 Broadway.
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