Category : Featured

By Roland LiWith Borders’ liquidation imminent, Long Island-based real estate firm DJM Realty has begun marketing the book company’s remaining 259 stores across the country. “We’re doing a broad-based marketing approach,” said Andy Graiser, co-president of DJM. “We’re really going after every type of retailer.” Prospective tenants have included big-box chain stores, supermarkets and even local municipalities.

By Liana Grey Several months ago, Brooks Brothers opened its first children’s store in Manhattan, on Madison Avenue and 86th Street. With Catimini, a trendy boutique for school kids, and Baby Cottons, a sleepwear shop, all within the span of several blocks, Madison Avenue has fast become a shopping destination for affluent parents. “Normally people move to the suburbs, but people are tending to stay,” said Gary Alterman, a senior vice president at RKF.

By Roland LiRecord label Mom + Pop Music has signed a two-year lease for 1,860 s/f at 1140 Broadway. Rent was $38 per s/f, with a yearly rent of around $70,680. Mom + Pop is home to bands such as Sleigh Bells, Neon Indian and Tokyo Police Club. It was founded in 2008 as an affiliate of Q Prime, a music management company, by Peter Mensch, Cliff Bernstein and Michael Goldstone.

By Roland Li When Helen Hwang moved from South Korea to New Jersey as a teenager, she had to learn a new language. Undaunted, Hwang … Continued

By Daniel GeigerA year after 17 State Street slipped into special servicing, the building’s owner RFR Realty appears to have staged a turnaround. With its distinct curving facade, which offers panning views of the surrounding Lower Manhattan waterfront including Battery Park, the Statue of Liberty and Governor’s Island, RFR has long sought to position the building as an upper tier property in the Financial District. During the recession that strategy seemed to be on the rocks.

By Daniel GeigerOutside Editorial, a company that specializes in film and television editing, has relocated into about 5,500 s/f at 466 Broome Street. Erik Nissani, a commercial broker who operates a boutique leasing brokerage with his brother Jeff Nissani, handled the move for the firm, part a growing list of movie production and sound recording tenants he has developed a specialty representing.

By Roland LiNew York sales volume rose to $12.6 billion in the first half of 2011, a 103% increase compared to the first half of 2010, according to reports from Massey Knakal Realty Services. Volume increased by 52%, compared to the second half of 2010, and 960 properties were sold, up 15% from the same period in 2010. “The trend is upwards,” said Robert Knakal, chairman of Massey Knakal. “It’s making acquisition seem very attractive.”

By Roland LiVerizon New York Inc. has sold a portion of 435 West 50th Street for $20.025 million, according to city records. According to the property’s listing, around 101,000 s/f of the 299,534 s/f building was sold, including the 10th through 16th floors, and portions of the penthouse, ground floor and lower level. The basement of the building primarily houses switching equipment, while the top floors are offices.