Category : Featured

Deals & DealmakersFeatured

Witkoff, Lorber, Schrager: Two out of three deals done

REW Staff
by REW Staff706
Carlton chairman Howard L. Michaels announced today that he organized an equity partnership between Ian Schrager, Steve Witkoff and Howard Lorber to form a joint venture to buy an equity stake in a West Village site owned by real estate investment firm, Area. He said it is the second of three high profile deals he's been working on with the trio of headline-makers and that the third "huge, confidential Manhattan hospitality transaction" with Schrager, Witkoff and Lorber will be announced shortly.
Construction & DesignFeaturedResidential

Mack-Cali announces newest Gold Coast apartment building

REW Staff
by REW Staff628
Mack-Cali Realty and its subsidiary, Roseland, are set to break ground on a new 280-unit luxury rental unit on Jersey’s Gold Coast. The developer will be joined by officials from the Township of Weehawken next Wednesday for a ceremonial dirt-digging for what’s being called RiverParc. The $100 million building will be the latest addition to the Port Imperial mixed-use master planned development which spans more than two-and-a-half miles of waterfront property facing Midtown Manhattan.
Brill building sells for a $250m song
Deals & DealmakersFeatured

Brill building sells for a $250m song

REW Staff
by REW Staff676
The Brill Building, a landmark historic building located at 1619 Broadway at the corner of West 49th Street, has been purchased by real estate investor Eric Hadar of Allied Partners, along with the private equity firm Brickman, in a deal valued at close to $250 million.
First National Bank growing its footprint
Deals & DealmakersFeatured

First National Bank growing its footprint

REW Staff
by REW Staff869
The First National Bank of New York, a local bank serving Long Island, is expanding its New York City offices with the lease of the 37th floor of 1450 Broadway in Union Square, according to a source familiar with the deal. Asking rent for the pre-built space was in the mid-$60’s psf. Matthew Leon and Brittany Silver of Newmark Grubb Knight Frank represented the tenant and Jonathan Fanuzzi of Jones Lang Lesalle represented the landlord, the Zar Group, in the deal. According to the source, the floor’s clear view of the New Year’s Eve ball drop in Times Square helped sway the tenant’s decision in favor of the space.
Residents follow business on migration to Manhattan south
Deals & DealmakersFeaturedResidential

Residents follow business on migration to Manhattan south

REW
by REW1135
The movement of New Yorkers choosing to live below 23rd Street continues to trend upward, even as vacancy rates edge lower and rents particularly for larger units, move toward record-high levels. With newer tech companies and start-ups concentrated from Chelsea/Flatiron area south through Union Square to SoHo, rents are following the trend of demand steaming from workers looking to walk to their jobs. “I think Silicon Alley is a significant force,” said Jonathan Miller, president of Miller Samuel Inc. SoHo and Tribeca lead in median rents at $5,245 a month. Wall Street and Battery Park City come in second at $3,600 per month.
The recession receeding, showbiz parties pop back onto the scene
FeaturedResidential

The recession receeding, showbiz parties pop back onto the scene

REW
by REW838
By Holly Dutton The days of lavish parties atop luxury condo skyscrapers are on their way back, and it may signal that the market is going nowhere but up. In 2006, when the housing bubble was at its peak, it wasn’t unusual to attend a party for a condo building that featured high-profile entertainers like Brit hunk Seal or Grammy winner John Legend and catered by the likes of Nobu. At a soiree last week at Related’s 225 Rector Street, Sofia Song, director of research for StreetEasy, recalled attending over-the-top parties back in the boom days.
Deals & DealmakersFeatured

Zar shopping Soho retail space at ‘bargain price’

REW
by REW658
Zar Realty is bringing two prize Soho retail units to the market for the first time in 30 years. The 10,500 s/f combined spaces at 42-44 Greene St. and 46-50 Greene St in the heart of the trendy district are at the bottom of two cast iron buildings that Zar Realty purchased in 2008 for $49 million. “It’s a wonderful opportunity for a tenant wanting a retail presence in SoHo without paying retail rents,” said David Zar, of Zar Property.
Featured

How Brookfield landed starring role in Tribeca Film Festival

Linda O'Flanagan
by Linda O'Flanagan856
Movie-goers at this year’s Tribeca Film Festival got a first look at perhaps one of the year’s most unusual films. And while maybe not on Oscar contender, the film — produced by branding image creators Juniper Jones for downtown’s biggest landlord — could be the beginning of a whole new genre.