Category : Featured

Shabby Chic – New York’s market for multi-million dollar fixer-uppers
FeaturedResidential

Shabby Chic – New York’s market for multi-million dollar fixer-uppers

REW Staff
by REW Staff721
As condo prices in Manhattan’s luxury market rise to record levels, fixer-uppers are one of the last options for bargain hunters. “Here’s an opportunity to save a lot of money and do it yourself,” said CORE broker Reba Miller, standing in a full floor condo on East 66th Street. “There is just a very limited supply for people who want a big space in Lenox Hill. There are plenty of good reasons to buy fixer-uppers. They are often significantly cheaper than finished luxury apartments — despite the renovation costs — and they allow buyers to create a living space according to their own tastes. But somewhat surprisingly, brokers still tend to have a hard time selling them.
Ice man Mirante makes case for throwing caution to wind
Deals & DealmakersFeatured

Ice man Mirante makes case for throwing caution to wind

REW Staff
by REW Staff992
Sometimes, even if you’re not sure where the puck is going, you should skate for it anyway, Arthur Mirante told the members of B’nai B’rith at the group’s monthly luncheon last week. “I can’t remember a time in my 35-year business career that has been so characterized by uncertainty,” Avison Young’s Tri-state president told the crowd.
Retail REIT targeting New York market
Deals & DealmakersFeatured

Retail REIT targeting New York market

REW Staff
by REW Staff700
After two years of downsizing, Cedar Realty Trust is back among the buyers. And the shopping-center REIT has big plans in Greater New York. Last month, Cedar Realty bought a shopping center in Fairfield County, Connecticut, for $34.5 million. It was the first acquisition since CEO Bruce Schanzer took over in 2011.
Deals & DealmakersFeatured

Bratton gets real estate vote

REW Staff
by REW Staff613
Bill de Blasio has given New York’s real estate sector an early Christmas present. “The choice of William Bratton brought a huge sigh of relief from the real estate community,” said Mitchell Rudin, president and CEO of Brookfield Office Properties’ U.S. commercial operations, at Eisner Amper’s Real Estate Breakfast Forum. Last Thursday, Mayor elect de Blasio announced that Bratton will replace Ray Kelly as New York City’s police commissioner. Bratton had previously been commissioner between 1994 and 1996 under Mayor Rudy Giuliani, and is widely hailed for his role in turning the dangerous New York of the early 1990s into the comparatively safe city it is today
CUNY renews 167,000 s/f lease at 255 Greenwich
Deals & DealmakersFeatured

CUNY renews 167,000 s/f lease at 255 Greenwich

REW Staff
by REW Staff783
One of the city’s largest public academic institutions will continue to “make the grade” at Jack Resnick & Sons’ 255 Greenwich Street. The Borough of Manhattan Community College (BMCC), a part of the City University of New York (CUNY), has signed a 20-year, 167,072 s/f lease renewal at the 14-story, 600,000 square-foot office tower.
Upper West Side retail condo fetches $50M
FeaturedRetail

Upper West Side retail condo fetches $50M

REW Staff
by REW Staff677
ALTO Private Investments, a lreal estate fund manager, announced an exit transaction with the sale of 200 West End Avenue, a retail condominium on the prestigious Upper West Side of Manhattan consisting of four retail units, for $50 million. ALTO purchased the property with the Klein American Group in 2011 for $31 million.
Record crowds at ICSC have everybody talking
FeaturedRetail

Record crowds at ICSC have everybody talking

REW Staff
by REW Staff748
The International Council of Shopping Centers’ annual New York National Conference at the New York Hilton and Sheraton New York kicked off this morning. Organizers expect a record-breaking attendance this year, with up to 10,000 professionals roaming the halls and hotel lobbies (a major reason, I’m sure, that this conference is moving to the Javits Center next year). I can remember years back when the New York meeting was held in Westchester in the fall – and drew an audience in the hundreds rather than the thousands.
FeaturedRetail

Jacques Torres to open first East Side store

REW Staff
by REW Staff626
"Mr. Chocolate" Jacques Torres has signed a deal to open his first East Side store. Faith Hope Consolo, chairman, and Joseph Aquino, executive vice president of Douglas Elliman's Retail Group arranged the deal at 110 East 57th Street, between Park and Lexington Avenues. Consolo and Aquino represented the landlord, The 57th Street Dorchester, Inc. The tenant’s broker was Robert K. Futterman & Associates.
SL Green, Sutton kick off ICSC with a bang
FeaturedRetail

SL Green, Sutton kick off ICSC with a bang

REW Staff
by REW Staff790
Manhattan retail partners SL Green Realty Corp. and Jeff Sutton kicked off the city's ICSC week with a flurry of high profile deals. The partners announced this morning (Monday) that they have signed a new lease with "a major European fashion house" at 747 Madison. They have also sold a 33.3 percent stake in the retail co-op in a deal which values the asset at $160 million. SL Green is also selling its 50 percent stake in the retail stores at 21-29 West 34th Street. The agreement values the entire property, which includes the tenancies of Apple, Aldo and Geox, at $195 million.