A decade ago, a walk down Fifth Avenue near 17th Street would have included a stop at advertising firm Geer DuBois, and a walk farther north on Park Avenue South would have culminated in a visit to Angelo & Maxie’s Steakhouse.
Both were pioneering tenants, willing to take a chance on the less desirable precincts of Midtown South—and both are gone.
Vornado Realty Trust has reportedly taken control of the ground lease at the landmarked 11-story Swiss Center at 608 Fifth Avenue, where the REIT is marketing 44,440 square feet of retail space across four of its floors.
Vornado took over RFR Realty’s mortgage on the property last March with an $8.5 million payment that RFR owed to another lender and signed the ground lease on the property with the family of the late Sarah Korein, which owns the land under the building, according to the New York Post.
RKF has arranged a 12,245-square-foot lease for retailer Banana Republic at 2373 Broadway, a source tells The Commercial Observer. The national apparel brand’s new space on the ground and second floors of 22-story luxury residential building The Boulevard features 150 square feet of wraparound corner frontage on the northwest corner of Broadway at 86th Street.
The Boulevard is owned by Boulevard West LLP, a unit of Texwood Investments, Inc. RKF represented the building owner and tenant. Banana Republic, a division of The Gap, Inc., will close an existing store across the street at 2360 Broadway and plans to open the new location in early 2013, sources said.
A pair of space-suited astronaut arms reaches out from a wall on the ground floor of 75 Wall Street, flanking a television that plays an animation of a control panel whose hand-drawn screen flashes the word “FAILURE,” followed by “SUCCESS.”
The artwork, “Jupiter Mission,” by the artist team Pamela Reed and Matthew Rader, was unintentionally Read More