Sales Beat

Okada & Company Sells 137 East 47th Street for $8 M.

Courtesy of Google

The mixed-use building at 137 East 47th Street between Third and Lexington Avenues has been sold for $8 million dollars. The owners, undisclosed local investors, sold the building for nearly four times the price they paid less than a decade ago.

“The sellers bought in 7-8 years ago for $2.4 million dollars and today exited Read More

Postings

Ballroom Waltz: A Minute-By-Minute Account of Last Night’s REBNY Gala

REBNY Ballroom final

Thursday’s Real Estate Board of New York gala packed an estimated 2,400 guests into the Hilton New York’s overstuffed Grand Ballroom—an increase from last year by about 200. The Commercial Observer walked the room, hobnobbed with brokers and landlords and taste-tested a dinner of steak and potatoes while washing it all down with a few stiff drinks. Staff Reporters Karsten Strauss and Al Barbarino get the inside dish.

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Lease Beat

Kosher Restaurant La Brochette Signs 10-Year Lease With Plans to Gut Renovate Murray Hill Restaurant Space

Grill

La Brochette, a new kosher steakhouse and restaurant, is coming to Murray Hill, The Commercial Observer has learned.

The tenant has signed a 10-year, 4,680-square-foot lease at 340 Lexington Avenue, where the restaurant takes the place of former kosher steakhouse La Carne Grille, which occupied the property for years and was a go-to hangout for the kosher-eating community.

The restaurant is slated to open its doors in the spring of 2013, said Christopher Okada of Okada & Company, who represented the tenant (Francis Leung, also with Okada & Company, represented the landlord). Read More