Big Deals

Seating, Article Helped Make Deal of Year

Peter Ripka

A news article and a seating arrangement helped clear the way for the deal that the Real Estate Board of New York judged the most significant to the city’s real estate market in 2013, Commercial Observer has learned.

Peter Ripka of Ripco Real Estate won REBNY’s sought-after “most significant retail deal of the year” award last week for his brokering of Barneys New York’s move back to a 57,000-square-foot retail condo at 107 Seventh Avenue in Chelsea where the city staple had relocated from in 1997. Read More

Coming Up Roseman

Jeffrey Roseman (Photo: Mike Nagle)

On an otherwise ordinary winter day last month, a group of Barneys New York executives met across the street from 101 Seventh Avenue along with Newmark Grubb Knight Frank’s Jeffrey Roseman to reflect on something that was in fact rather remarkable.    

Barneys would officially come back to the landmark Chelsea address it had Read More

Lease Beat

Barneys to Make Chelsea Return

The original Barneys location in Chelsea, c. 1989

Luxury retailer Barneys has announced plans to return to Chelsea with a 57,000-square-foot downtown flagship at the store’s original location at 101 Seventh Avenue.

The new store, slated to open in 2017, will consist of five floors at space now occupied by discount department store Loehmann’s, which has filed for bankruptcy.

Read More

Lease Beat

660 Madison Avenue Welcomes Trevi Health Capital

Courtesy of Cornelius' Corner

Trevi Health Capital will be moving a block north in Midtown.

The specialist investment firm that provides healthcare-focused alternative asset management will be relocating their offices from 110 East 59th Street to a block north at 660 Madison Avenue. The firm will trade in their office on the 33rd floor in favor of an 8,000-square-foot space on the 15th floor of 660 Madison. Read More

Sales Beat

SoHo Property and Alleged Lady Gaga Hangout Sells for $6.1 M.

Credit: Granitz/WIREIMAGE

A bit of economic certainty and some love from Lady Gaga apparently added more than $2 million of value to a SoHo property that just traded hands at 29 Greene Street.

The commercial building, home to a creative media firm that reportedly worked with pop star Lady Gaga, sold for $6.1 million, city records show.

The two-story, 3,700-square-foot property is leased to Two Hustlers, which creates content for the fashion, art, music and gaming industries and birthed a Gaga Constellation interactive window display for Barney’s in 2011, according to a report in Crain’s in October 2012 announcing that the property had hit the market for $6.5 million. Read More


$100 M.! Big CMBS Deal at Barney’s Flagship

In one of the biggest commercial mortgage-backed security deals in New York during the Great Recession, the retail condominium portion of the Barney’s flagship store at 660 Madison Avenue will be refinanced to the tune of $100 million. The loan was arranged by Meridian Capital Group, LLC for landlord Flagship Partners LLC, which owns floors Read More