Alcoa has signed a renewal for its 21,452-square-foot space at RFR Realty’s Lever House at 390 Park Avenue, Commercial Observer has learned.
The global lightweight metals engineering and manufacturing company occupies the entire seventh and eighth floors of the building. The term of the lease was not disclosed. Read More
Donald Trump is interested in buying the National Football League’s Buffalo Bills franchise and keeping the team in Western New York, according to The Buffalo News.
GFI Realty Services is marketing a four-story, 7,000-square-foot residential building at 377 South 1st Street in Williamsburg for $2.85 million, Commercial Observer has learned.
The property, made up of eight two-bedroom apartments, is two blocks east of the Brooklyn-Queens Expressway and two blocks west of the intersection between Grand Street and Union Avenue, near popular neighborhood hangout Barcade and a plethora of other restaurants and nightlife options. Read More
A mixed-use building on the northwest corner of 21st Street and First Avenue, across from Peter Cooper Village, has sold in an off-market deal for $1,120 per square foot.
The seller was Rye, NY-based JTU Management Inc., which acquired the property in July 2011 for $4.38 million, and the purchaser was a private investor listed as First Avenue Assets LLC, public records indicate. Read More
New York REIT, the real estate investment trust formerly known as American Realty Capital New York Recovery REIT, made its debut on the New York Stock Exchange yesterday under the symbol NYRT. Shares in the REIT began trading at $10.70 and closed at $10.75, rising late in the trading day.
“NYRT’s successful listing on the NYSE marks another important milestone for the Company and provides it more efficient access to the capital markets which will help drive its future growth, while also creating a liquidity opportunity for our shareholders,” said Nicholas Schorsch, the chairman and chief executive of NYRT, in a prepared statement released prior to yesterday’s trading session. Read More
John Elkann has joined Cushman & Wakefield as chairman of its Board of Directors, the firm announced today.
The 38-year-old Agnelli family heir is chairman and CEO of investment company EXOR, S.p.A., which became C&W’s controlling shareholder in 2007. Read More
The unexamined life, as we all know, is not worth living. What, then, of the unquantified life? An existence that does not feed into a data set, whose lessons can only be gleaned via subjective analysis?
Well, in any case, that won’t be a concern for those planning to relocate to Hudson Yards. New York University has announced that it is teaming up with Related Companies and Oxford Properties Group to “measure and analyze key physical and environmental attributes at Hudson Yards,” a move that they say will help the nascent neighborhood to run as efficiently as possible when it comes to residential, retail, office and public space. And it will be boon to Related, which will be better able to manage its properties with expert feedback, and also, of course, to NYU, which will get a nice data set to work with. Read More
Luxury golf apparel brand Peter Millar has signed a lease for a New York flagship retail location at 536 Madison Avenue, the landlord’s broker announced today. The tenant signed a 10-and-a-half-year deal for the two-level, 3,400-square-foot space.
Marcus & Millichap has arranged the $6.4 million sale of a 9,000-square-foot, five-story residential walk-up building at 319 East 90th Street on the Upper East Side, Commercial Observer has learned.
The building, located between First and Second Avenues, contains 20 apartments—17 of them free market—with 12 one-bedrooms and eight studio units. Read More
Family Direct Trading, a 99-cent wholesaler, has nearly doubled the size of its warehouse since relocating from a 15,000-square-foot space in Bushwick, Brooklyn, to a new warehouse in Ridgewood, Queens.
The new space, at 10 Woodward Avenue, is a one-and-a-half-story, 26,223-square-foot property just off of Metropolitan Avenue. It has two drive-in doors and two loading docks. Read More
Internet giant Google is in the market for up to 600,000 square feet of office space in Manhattan—enough to hold more than 3,000 employees, The Wall Street Journal reported.
Google could potentially expand to 450 West 33rd Street or St. John’s Terminal at 550 Washington Street, according to sources cited by the Journal. Brookfield’s 450 West 33rd Street boasts floor plates of 100,000 square feet and is being renovated to the tune of $200 million. Read More
Marcus & Millichap has arranged the sale of a 123,785-square-foot, two-story industrial building at 150 52nd Street in Sunset Park, Brooklyn for $19.5 million.
The lot currently holds an industrial building with seven commercial tenants and a 30,631-square-foot open parking lot, but it carries with it 201,930 square feet of total buildable air rights. The demand for development opportunities in the area led to a sale price that came in $2.7 million over the asking price, brokers said. Read More
Hale & Hearty Soups will be opening at 2 MetroTech Center in Downtown Brooklyn this fall after signing a 10-year lease for 1,760 square feet, MetroTech Center developer Forest City Ratner Companies announced.
New York-based Hale & Hearty, which has 30 locations in Manhattan, Brooklyn and Long Island, sells sandwiches made with artisanal breads, salads and 15 to 20 different soups per day. All soups are made from scratch in Hale & Hearty’s Brooklyn kitchens. Read More
Citigroup has hired Cushman & Wakefield to manage its real estate portfolio in the U.S. and Canada, according to The Wall Street Journal.
The real estate services company will assume responsibility for the investment bank’s 27 million square feet of office, retail and data space from JLL, which chose not to bid on the contract when it came up for renewal, the Journal reported. The assignment includes Citigroup’s headquarters at 388-390 Greenwich Street in Tribeca, which is triple-net leased to the bank through 2035. Read More
Prolific hotelier Sam Chang‘s McSam Hotel Group secured a roughly $25 million bridge loan to fund the acquisition of a development site on 37th Street between Eighth and Ninth Avenues.
The 10,000-square-foot parking lot at 326 West 37th Street will become a Gene Kaufman-designed hotel with 242 rooms, according to the architect’s office. At 22 stories, the hotel will have a gym, meeting room and ground-level restaurant/bar. The brand is still to be determined. Read More