Category : Featured

By Daniel GeigerIcahn Associates, the investment firm run by the financier and corporate raider Carl Icahn, is in preliminary talks to renew its lease at the top of the General Motors Building, one of the priciest and most exclusive office towers in the city. Although a renewal deal is only in preliminary talks, sources say, many view Icahn as a captive tenant in the property, the kind of successful, deep-pocketed firm likely to pay the building’s hefty premium in order to remain at one of the city’s most prestigious addresses.

By Roland Li The lobby of 1633 Broadway, a 48-story black tower in midtown, is marble and granite, with a central waterfall. On a recent … Continued

By Daniel Geiger 620 Avenue of the Americas is being put on the market for sale, according to several sources familiar with the property. The nearly 800,000 s/f building is owned by a partnership between the real estate investors Meyer Chetrit, Charles Dayan, and Yair Levy, who nearly lost the Chelsea property to foreclosure during the recession last year.

By Roland LiIn May, Chelsea Piers announced the beginning of construction of its Connecticut facility, at the Campus at I-95 Exit 9 Stamford, a major deal that suggests the downturn is thawing in the suburban market. Clay Fowler, founder, CEO and chairman of Spinnaker Real Estate Partners, which owns the property with Steven Wise Associates, LLC., had been eyeing it for years.

PETER HENNESSY It’s almost one year since Peter Hennessy became president of New York tri-state region for Cassidy Turley. In the first of a new … Continued

By Daniel GeigerThe Building Trades Employers Association, a group that represents construction contractors in the city, announced Tuesday afternoon that it will not renew a 108-year-old agreement that has effectively bound its members to employ union labor and abide by union work rules on construction jobs. The New York Plan, as the agreement is known, has been in place since the early 1900s, but contractors have begun to complain that the plan’s rules are costly and inefficient and have become untenable amid an economic downturn that has decreased the amount of work in the construction industry.

370 Lexington Avenue By Daniel Geiger The fewer tenants a landlord can use to fill a space, the better. Of the modern operating practices in … Continued