Category : Featured

Deals & DealmakersFeatured

Designer to leave Meatpacking District for UES

REW Staff
by REW Staff868
Fashion designer Yigal Azrouël is bringing his eponymous women's wear brand to Madison Avenue. The new boutique, set to open in the fall, will be located at 1011 Madison Avenue, on the corner of East 78th Street. The boutique will be relocating from its flagship store at 408 West 14th Street in the Meatpacking District, where it has been a retail presence since 2003. The corner retail space at 1011 Madison Avenue was previously home to women's fashion retailer Luca Luca.
Deals & DealmakersFeatured

Rob Speyer named next REBNY chairman

REW Staff
by REW Staff952
International builder and developer Rob Speyer, president and co-chief executive officer of Tishman Speyer, will succeed Mary Ann Tighe as Chair of The Real Estate Board of New York, REBNY President Steven Spinola announced today. Mr. Speyer’s term begins in January 2013.
Deals & DealmakersFeatured

Lot more business for discount chain

REW Staff
by REW Staff951
The discount chain Lot-Less Closeouts has leased a 13,000 s/f storefront at 206 West 40th Street in the Garment District. The shop is currently undergoing renovations, and is slated to open the first week of August. “We wanted to expand to the Midtown area,” said the company’s president, Raymond Cohen. “We thought it would be a good fit for Lot-Less.” Steven Martin of Olmstead Properties helped Lot-Less secure the space, which is located in a two-story building between Seventh and Eighth Avenues and was previously occupied by several different fabric stores
FeaturedResidential

Fair deal: Despite opposition, developers bring affordable housing to Long Island

REW Staff
by REW Staff858
By Sarah Trefethen Just over 10 years ago, in January of 2002, Nassau County was short on the cash needed to maintain its various properties, from courthouses to administrative office. Then-County Executive Thomas R. Suozzi set out to consolidate the county’s holdings, devising a plan that included the sale of a 25-acre parcel in Garden City, a village of just over 21,000 residents in central Long Island. That decision set of a chain of events that is still playing out in court, where Garden City officials face allegations that racial discrimination caused them to disallow the development of multi-family rental buildings on the site. The case is expected to go to trial in district court this summer. These cases highlights some of the challenge that have faced both developers who want to target young, elderly and blue-collar residents in suburban New York, and policymakers who seek to bring racial and economic diversity to some of the area’s whitest, most affluent communities. “Everyone’s for affordable housing until you select a location,” said James Britz, senior vice president of the Long Island Housing Partnership.
Deals & DealmakersFeatured

Nordstrom flagship to drop anchor on 57th Street

REW Staff
by REW Staff869
By Sarah Trefethen Last week’s announcement that the Seattle-based department store Nordstrom will open a flagship store between Broadway and 7th Avenue will bring a new, western anchor to the 57th Street retail corridor. The store, to fill 285,000 s/f in a new development by Extell Development Company on 57th Street, is expected to open in 2018. “We’re not too close to competitors but we’re not too far away from customers,” said Derek Trulson, international director with Jones Lang LaSalle, who represented Nordstrom in the deal. “Effectively we’ll be the only luxury department store on the West Side, which is fantastic, and we’re on 57th Street so you’re really allowing yourself to connect to the East Side shopper through that corridor.”