The once-plagued 510 Madison Avenue is officially full after an investing firm signed a lease for an entire floor, Crain’s New York Business reported.
One Equity Partners has signed a 10-year lease for 11,500 square feet in the building between East 52nd and East 53rd Streets. The space spans the entire 19th floor and with an asking price of $120 per square foot.
Just over a year ago, Mr. Macklowe submitted plans for what would be the city’s tallest residential tower, an 84-story, 1,395-foot building at 432 Park Avenue. Since then, the papers have devoted as much ink to the developer’s family melodrama (involving an alleged “vendetta” against his estranged son-in-law, Kent Swig, at 740 Park Avenue) as Read More
Mack is Back
Union Square residents worry that a new public school would harm “quality of life” by adding to crowds. [DNAinfo]
Hamptons retailers pack it up after the summer months when most of their business leaves town. [NY Times]
President Obama’s fundraising trip has low donor turnout. [NY Post]
Development site at Sixth Street and Fourth Avenue sells for $6.5 million, building to be designed by Enrique Norton. [Brownstoner]
Foreclosures and bankruptcy spell end for Upper West Side’s H&H Bagels. [Journal]
And as the Upper West Side loses a bit of its popular charm, residents complain that big banks are stripping the neighborhood of its character. [DNAinfo]
With the deadline approaching for Harry Macklowe to seal the deal at 737 Park Avenue, he is so close, yet so far from securing the equity he needs.
Mr. Macklowe has hired the Carlton Group’s Howard Michaels to help him search for another partner for the deal (Mr. Michaels told The Observer a couple of Read More
Port passes on plan for restaurant atop 1 WTC [Post]
Commercial property back–we’ve heard that one before, right? [Journal]
But in Manhattan, it’s the real deal, swear [Journal]
The Dakota’s not the only building with a discrimination problem [Times]
Don’t nag your co-op board [Brick Underground]
Harry Macklowe rises again. Read More
On the Market
And he does it again.
Back in July, developer Harry Macklowe made his debut on the very small screen, telling a knee-slapper of a joke for the ever-amusing Web site, OldJewsTellingJokes.com.
Now he’s done it again. Or, more precisely, the Web site, whose makers taped Mr. Macklowe telling multiple jokes a while Read More
Macklowe Properties has hired RKF to lease the retail space at the base of the former home of Bank of New York Mellon at 1 Wall Street, Commercial Observer has learned.
The retail space at the 50-story Art Deco Financial District tower is about 100,000 square feet, but could grow to 200,000 square feet with additional floors taken. It spans the ground and second floors as well as below-grade.
A joint venture led by Macklowe Properties sealed its $585 million purchase of 1 Wall Street from Bank of New York Mellon Corp. with $460 million in acquisition financing serviced by Deutsche Bank Trust Company Americas, city records show.
The transactions closed on Sept. 30 and hit records this morning. Qatar National Bank is listed as the agent bank in the deal. No other lenders are named.
William Macklowe of William Macklowe Company never misses a daily breakfast meeting with his 6-year-old daughter. Her life-size headshot hung high next to the desk in Mr. Macklowe’s well lit corner office last week when he chatted with The Commercial Observer about his other baby, 386 Park Avenue South, the rest of Midtown South, its exorbitant rents, Read More
From the Finance File
Billy Macklowe has filled up the first building he bought without dad Harry.
Investment vehicle SecondMarket Holdings has taken about 50,000 square feet in floors three through six of 636 Avenue of the Americas in the flatiron.
Love the Drake!
The banks have welcomed Billy Macklowe back with open arms.
Mr. Macklowe has secured a $25 million mortgage at 636 Sixth Avenue, which he picked up for $45.2 million a few months ago. The lender was Capital One National Association.
When Mr. Macklowe bought the building with ING Clarion in January, he told Read More
It has been arguably the most watched development site in the city for the past few years, and all the moreso now as Harry Macklowe and his new partners at CIM prepare to build something on the former site of the Drake Hotel. Even though both developers eschew press, details have dribbled out Read More
Love the Drake!
City gets much-needed Willets Point approval [Crain’s]
Mariah Carey names her baby after a room in her New York home… [Curbed]
Straphangers say subways are dirtier, MTA disputes [WNYC]
Moving to New York, Jennifer Anniston wants $26 million more than she paid in 2006 [CNN]
More vivid testimony from the Deutsche Read More
Our invitation to 10-story hotel and 33 floors of residential above that. We reached out to the creators, ubiquitous architects-of-record SLCE, but received no comment.
This offers a snatch of that far-off era called Early 2008, when ambitions for the site were at their most staggering. These drawings, according to a source knowledgeable with Read More
William Macklowe once won and lost big in a high-stakes real estate game, but his new firm is scoring more modest victories.
Four-hundred Madison Avenue was one of dad Harry Macklowe’s long-time holdings and one of two Billy held onto when the empire the two ran fell apart. Now the son has inked Read More