Sales Beat

CRE Partnership Closes on Future Dream Hotel

560 Seventh Avenue

Developer Soho Properties, MHP Real Estate Services and international hotelier Hampshire Hotels have officially acquired 560 Seventh Avenue, formerly occupied by the Parsons School of Design and home to the Bravo reality series Project Runway.

The development project, valued in excess of $300 million, will make way for the creation of a new hotel and retail property at the corner of 40nd Street and Seventh Avenue, featuring a Dream Hotel and 20,000 square feet of destination retail. Read More

The Lobby

Murray Hill Properties Promotes Three Brokers to Partner in Hierarchical Shift

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Murray Hill Properties is turning over its brokerage to its brokers by promoting three veteran agents to partnership roles, The Commercial Observer has learned.

The move, spearheaded by principal and president of the firm David Greene, changes the hierarchical structure of the firm and evens the playing field for brokers who want a bigger role in the future of the Read More

Lease Beat

Metropolitan Pavilion Signs Lease for Former H&H Bagel Factory

639 w 46 st

Special event venue and production company Metropolitan Pavilion has signed a lease for 639 West 46th Street, the former H&H Bagel Factory, it was announced yesterday. Asking rent was approximately $45 per square foot.

The building, owned by MKF Group, includes 25,000 square feet over two floors, with 14-foot high ceilings throughout, according to a statement. Metropolitan Pavilion requires spaces with large footprints and high-ceilings, which in current market conditions are not readily available, according to Alan Boss, president.

The property is currently undergoing renovations which are scheduled for completion by November 2013. The renovation of the building is being done in cooperation with architect David Feldman and will include a renovated façade, new elevator, new stairs and new mechanicals, according to Adam Smith, director of real estate at MKF. Read More

Lease Beat

Gander & White Leases 60,000 Square Feet At 45-11 West 33rd Street

45-11 33rd Street

Gander & White, the 80-year old company that provides shipping services to museums, art dealers and collectors, signed a 60,000-square-foot lease at 45-11 33rd Street in Long Island City.

Jesse Rubens of Murray Hill Properties and Lawrence Smith of Sholom & Zuckerbrot represented the landlord. Joseph Grotto of Cassidy Turley represented the tenant, which will use the space for a combination of office and storage uses. Read More

Lease Beat

1412 Anchor One Step Up Renews Lease

Courtesy of Murray Hill

One Step Up has renewed their lease in Midtown.

The apparel company is set to maintain their 52,805-square-foot lease at Harbor Group International‘s 1412 Broadway for the next ten years. The firm, with the help of Jesse Rubens, a senior executive managing director of Murray Hill Properties, the firm initially moved into the building in Read More