H&M

• October 2019 New York Commercial Real Estate Market Report
• Market Overview: Leasing was slow last month with the top 10 leases comprising only of 464,100 versus last month total of 2.9 million square feet. The total is also down year-over-year. The top 10 office leasing deals of August 2018 totaled about 1.3 million square feet. EisnerAmper inked a 15-year lease for 125,000 square feet of space at 733 Third Avenue, The landlord is the Durst Organization. New York Times signed a 15-year lease for 57,846 square feet of space at 24-01 44th Road. The landlord is United Nations Federal Credit Union. WeWork firm inked a 15-year lease for 56,000 ...
  
  
• September 2019 New York Commercial Real Estate Market Report
• Market Overview: Midtown office leasing continued to slow, totaling just under 1 million square feet, down 21% from the month before and 26% year-over-year. The availability rate stayed flat at 10.6% while average asking rent rose to $88.20. Leasing activity in Midtown South slowed with 610,000 square feet in leases signed, a 20% decline from last month. The availability rate ticked down to 10%, and the average asking rent fell to $83.12 per square foot. Lower Manhattan office leasing jumped to 890,000 square feet, nearly double the month prior, making the first half of 2019 the submarket’s strongest half-year since ...
  
  
• May 2018 New York New Developments
• New York Major Developments: 666 Fifth Avenue announced that the tower lost $25 million in 2017, largely due to the debt service on the property outweighing its net income. Chinese developer Zhonghong Holdings has defaulted on more than $174 million debt, just one year after the company tried to buy a senior living facility chain. Brookdale Senior Living for $4 billion. Co-working companies have stepped up their game in New York City, increasingly competing with traditional commercial landlords for the same tenants. Sixteen co-working companies have leased 664,000 square feet in the city so far in 2018. Brookfield Property Partners ...
  
  
• September 2016 New York Commercial Real Estate Market Report
• Manhattan Office New commercial leasing plummeted during the second quarter of this year, one of several signs that the city should brace for an increasingly sluggish economy. Leasing activity dropped 15.6% from the same time last year, with only 7 million square feet rented. This is the second consecutive decrease in leasing activity, following the first quarter’s 6% year-over-year drop. This quarter, most leasing activity occurred in Midtown with 4.4 million square feet where median rent was $79.18 per square foot, followed by Midtown South with 1.5 million square feet where rent averaged $76.45 per square foot. Midtown Manhattan has ...
  
  
• September 2015: New York Buildings For Sale
• NYC Buildings For Sale Unizo Holdings is buying Sherwood Equities and JPMorgan Chase's 370 Lexington Avenue office building for $247 million. 370 Lexington Avenue contains 311,000-square-foot.350 East 86th Street went into contract with Gary Barnett's Extell Development Company for $100 million. Innovo Property group and Artemis Real Estate Partners bought the 15,500-square-foot retail condo at 202 Canal Street for $44 million.Extell just acquired a 14-story office building at 10 West 47th Street for $74.4 million containing 72,000-square-foot building between Fifth and Sixth avenues. Gaia Real Estate is in contract to buy the rental conversion of a former St. Vincent's Midtown ...
  
  
• July 2015: New York New Developments
• New York University's campus expansion plans to expand the school by about 2 million square feet in Greenwich Village hasve been approved by Tthe New York State Court of Appeals.s gave an approval to New York University's campus expansion plans to expand the school by about 2 million square feet in Greenwich Village. Neighborhood activists sued to prevent the expansion, claiming it used land that was permanently designated for public park use. The plan will create new high rises on two blocks between West Third and Houston Streets and La Guardia Place and Mercer Street. FAO Schwarz is close to ...
  
  
• June 2015: New York New Developments
• Foot traffic on madison avenue has declined by 200,000 people over the last seven months when the Whitney closed in October. While many luxury retailers still maintain locations there, some of them are global brands that are simply there for the status and are actually losing money on the area rents.The City Council approved plans for One Vanderbilt, the 63-story, 1.6 million-square-foot office tower to be built next to Grand Central Station. The tower will be anchored by TD Bank, with 200,000 square feet. One Vanderbilt will deliver critically-needed, state-of-the-art Class A office space and dramatically upgrade Grand Central's overburdened ...
  
  
• March 2015: NYC New Developments
• Major Developments Manhattan Borough President and a City Council member have been talking to developers to find a new plan for the historic South Street Seaport site to prevent a 494-foot tower from being built.The city is looking to revamp a program where property owners can transfer unused air rights to others. -The requirements are so difficult that only 10 successful transfers have been made out of almost 1,000 landmarks.. Those transfers took place in Midtown or Lower Manhattan. The NY state's attorney general's office is closing a 36-story, illegal hotel owned by an affiliate group. The property at 49 ...
  
  
• June 2014 New York New Developments
• Major Developments The South Bronx has had very few lodging destinations since the luxury Concourse Plaza Hotel at 161st Street and Grand Concourse closed in 1974. But now, with the opening of the luxury boutique Opera House Hotel at 436 East 149th Street last summer and the Umbrella Hotel looking to open 681 Elton Avenue this fall, the area’s hotel industry seems to be on the rebound.The Mayor’s administration has suggested rezoning a five-block stretch around Grand Central Terminal to allow for the construction of SL Green’s planned 65-story tower project at 1 Vanderbilt. De Blasio’s plan looks to partly ...
  
  
• May 2014 New York New Developments
• Major Developments Duane Reade recently vacated a location next to department store H&M; and is now on the market. The unofficial asking rent for the property is nearly $8 million per year. Commune Hotels & Resorts, a San Francisco-based joint partnership between Thompson Hotels and Joie De Vivre Hotels, has plans to develop two more hotels in Manhattan. One will operate under the Thompson Hotel brand, while the other will have a different hotel brand. The properties, for which Commune has already inked deals, are looking to open in 2016. The lineup for Westfield Group’s central shopping hall within the ...
  
  
• January 2014: New York New Developments
• NYC New Developments Brookfield Property Partners has increased its cash offer to buy Brookfield Office Properties to roughly $5.1 billion. Brookfield Office's board plans to recommend to shareholders to accept this new offer. In place of cash, shareholders can receive one limited partnership unit under the offer. In September, Brookfield Property's offer was valued at $5 billion. Hotel developer Zelig Weiss is planning a new 183-room hotel to Wythe Avenue in Williamsburg. The 150,000-square-foot building will be located at 55 Wythe Avenue. Citibank signed a lease worth more than $1 billion to renew its 2.7 million-square-foot lease in a two-building ...
  
  
• September 2013: Manhattan New Developments
• Manhattan New Developments Architect Santiago Calatrava has been chosen to design the newGreek Orthodox Archdiocese Church of St. Nicholas at 130 Liberty Street. It will sit just south of the site of the World Trade Center Transportation Hub that the architect also designed..Sheldon Solow clock is running out at his long-dormant, six-acre lot between East 38th and East 41st streets on First Avenue. Mr. Solo could lose his permits and public approvals for a $4 billion project if he does not build a foundation for the office building or one of several apartment towers by this November.The battle to secure ...
  
  
• November 2010 New York Buildings For Sale
• New York City Buildings soldJRK Hotel Group has sold the 193-room Hotel Roger Williams, at 131 Madison Avenue, to LaSalle Hotel Properties. LaSalle acquired the hotel's leasehold interest for $90 million, along with around $4.5 million in other costs which closed recently. JRK, who acquired the property on the corner of 31st Street in 2003, will retain management of the hotel. Embattled developer Kent Swig lost ownership of 5 Hanover Square after Manhattan-based real estate firm Savanna bought the discounted mortgage on the 325,000-square-foot building. Savanna paid $51.5 million in cash to Capital One Bank, a 14 percent discount from ...
  
  
• October 2010 New York Buildings For Sale
• New York City Buildings sold SL Green, the largest commercial office landlord in New York, agreed to sell 19 West 44th Street in Manhattan to Deka Immobilien for $123.2 million. SL Green will continue to manage and lease the building as part of the sale agreement with Deka. SL Green originally bought the 292,000-square-foot Class B property in 2004 for $67 million. Since the acquisition, SL Green has renovated the lobby, windows and heating and cooling systems, and raised occupancy to 99 percent, compared to 86 percent in 2004. SL Green Realty is expected to gain $66 million profit on ...