Category : Featured

By Daniel GeigerBarclays has hired a team from CB Richard Ellis to sell 475 Fifth Avenue, according to sources. The British bank took back the nearly 300,000 s/f office property in 2009 during the depths of the recession from a partnership between the landlord Joe Moinian and the real estate investment company Westbrook Partners, which had paid $163 million to buy the building during the boom. Moinian and Westbrook defaulted on the property after clearing it out to create a high-end building, an idea that preceded the industry’s precipitous downturn and fell on disastrous timing when the market collapsed.

By Liana Grey Two years ago, Joanne Podell saw potential in a seven-block stretch of Fifth Avenue that had largely been ignored by fashion retailers. Between 42nd and 49th Streets, “the problem was the tenants,” said Podell, an executive vice president at Cushman and Wakefield with a pioneering spirit: 15 years ago, she helped Duane Reade secure its first lease in a residential building — a rental complex on 2nd Avenue and 63rd Street — and worked with Anne Taylor to roll out Loft, the clothing chain’s hipper, younger offshoot.

By Daniel GeigerA team from the real estate services firm Cushman & Wakefield that is handling leasing for the midtown office building 623 Fifth Avenue has big expectations for the property, including rents in the triple figures. The roughly 350,000 s/f tower is owned by the landlord Charles Cohen and was handed to a leasing team led by Bruce Mosler and Arthur Mirante earlier this year after the pair, who are both former chief executives at C&W, were named leasing agents for Cohen’s entire Manhattan portfolio.

By Roland LiCWCapital has acquired a residential building at 615 West 186th Street for $8.21 million in a foreclosure auction, according to city records. Attorney Dayton Haigney was appointed as a referee of the building by Bank of America, which filed to foreclosure on a $13.89 million lien, according to PropertyShark. Haigney didn't immediately return a request for comment.

By Roland LiA 29,700 s/f office condo at 137-139 West 25th Street has been sold for $10 million, or roughly $337 per s/f. Frank Crimmins, senior vice president and controller of Sony Music Entertainment, is listed in recent building permits as the owner of 137-139 West 25th Street. A call to Sony's headquarters at 550 Madison Avenue wasn't immediately returned. The 12-story building totals 80,803 s/f, according to PropertyShark, including 72,550 s/f of office space and 8,250 s/f of retail. Jonata Dayan, Adam Ben-Dayan and Jonathan Ben-Dayan of Winoker Realty Company, represented the buyer, 127 West 25th Street LLC.