The industrial vibe of Hudson Square has beckoned media and tech firms in recent years, including New York magazine, MTV and now the New York Genome Center.
Now, analysts predict that the next industry on the list for Trinity Church, the religious institution that controls much of the area’s property, will be fashion.
Trinity Real Estate brokers lured high-end fashion designer Thakoon Panichgul into a 12,000-square-foot space at 225 Varick Street while also signing leases with Tory Burch and 3.1 Phillip Lim in recent months.
Cushman & Wakefield Equity, Debt and Structured Finance arranged a $127.8 million loan on the office building Park Central in Denver. Aareal Capital Corporation provided the five-year floating rate facility to an affiliate of Chicago-based Walton Street Capital LLC., which was advised by the Cushman & Wakefield team.
Northeast Mortgage Beat
One Channel Center, a 500,000-square-foot office building under development in Boston’s Seaport District, has received a $170 million construction loan.
A team from HFF, led by Managing Director Anthony Cutone and Director Porter Terry, arranged the financing, working on behalf of the developers—AREA Property Partners and Commonwealth Ventures.
According to sources, the loan is through Read More
Sentry Centers, a company that already operates two conference centers in Midtown Manhattan, has signed a deal to lease a 38,750 square foot space at 32 Old Slip.
In signing the lease, Sentry Centers will unveil its first conference center in the Downtown market, as was first reported by The New York Post.
Jared Freede, Rocco Laginestra, and Michael Wellen, all of CBRE, represented Sentry Centers in the deal. A CBRE team of Robert Alexandre, Doug Lehman, David Maurer-Hollaender, and Bruce Surry represented Old Slip Property LLC and Beacon Capital Partners, the listed owners of 32 Old Slip.
If Don Draper still ran an advertising agency, he’d have a very different Manhattan life. Instead of a dozen martinis and oysters at Grand Central every night after work, it’d probably be a quick Peroni and antipasti at Eataly before hitting the gym.
He might even be home early enough to kiss Betty and read a book to his kids. And, of course, he’d work in a fabulous open-plan office in Manhattan’s most desired commercial real estate market, Midtown South.
Global marketing and communications company Omnicom Group has taken an additional floor at 195 Broadway, growing the firm’s footprint to 260,000 square feet inside L&L Holding Company co-owned building, The Commercial Observer has learned.
The advertising firm will be taking a full floor, at approximately 39,347 square feet, at 195 Broadway.
Not included in Pearson’s announcement last week to relocate from its headquarters in Upper Saddle River, New Jersey, was news of an expansion the firm has secured at 330 Hudson Street in Manhattan, The Commercial Observer has learned.
Trinity has not had an easy time unloading a prime site at 330 Hudson Street. The ecclesiastical landlord leased the site to a developer four years ago, but waited for months on end for a planned hotel conversion to go forward.
Trinity ultimately took back the lease, and today announced that a new 99-year ground Read More