Up Up and Far Away
If a boutique hotel in the South Bronx wasn’t enough to raise eyebrows, an offshoot of the slick Standard hotel empire at John F. Kennedy International Airport should do the trick.
The New York Post reported yesterday that the Port Authority selected Andre Balazs‘ hotel group to develop JFK’s TWA terminal, the modern architectural triumph masterminded in the late 1950s by Eero Saarinen.
Year in Real Estate
Miami native Rick Rosa stuffed a few bags with his belongings in 1999 and headed for New York City.
Though not the postcard image he envisioned, he stumbled upon the industrial waterfront neighborhood of Long Island City, where he found an affordable pad, close to Manhattan, with a yard for his dog, Benny.
“The neighborhood Read More
The whirlwind negotiations between the Federal Emergency Management Agency and Muss Development to create an impromptu relief outpost in Queens in the days following Hurricane Sandy’s descent on New York would not have happened had it not been for one of the real estate industry’s leading dynasties.
In a deal that would later come to symbolize the overall dedication of the city’s real estate titans, government officials and executives banged out terms for 200,000 square feet of temporary space at the Forest Hills Tower in a mere five days, a minor miracle in the world of office leasing.
The advertising and media firm Publicis has signed a nearly 100,000-square-foot lease to relocate Manhattan offices to Long Island City.
The company, a large multinational firm that occupies hundreds of thousands of square feet in the city, is taking space at the Brause Realty-owned 27-01 Queens Plaza North in a sublease from the insurance firm Read More
Educational Affiliates is signing a 40,000-square-foot lease at 97-77 Queens Boulevard, a large office building owned by the LeFrak Organization in Rego Park, Queens.
The tenant operates career schools that train nurses, medical assistants, commercial drivers and computer specialists among other professions.
A source familiar with the lease said that Educational Affilitiates plans to open a nursing school at the location.
The Queens District Attorney’s Office
is considering a large lease in Forest Hills, Queens in offices that used to be occupied by the major airline JetBlue, several sources told The Commercial Observer
The office of the Queen’s DA, Richard Brown, is in talks to lease approximately 180,000 square feet at Forest Hills Tower, space that was formerly leased by JetBlue, which decided last year to relocate from the 500,000-square-foot building to Long Island City.
The Commercial Observer: Congrats on the JetBlue deal. How did you first get involved?
Mr. Brause: Back in 2001 we net-leased the entire building, the Brewster building—400,000 square feet—to MetLife Insurance Company. Two years later, they exercised an option for us to build out another 300,000 square feet in the rear parcel Read More
Aside from millions in city and state tax breaks, as part of the deal that kept JetBlue from absconding to Florida, the airline will receive certain rights to the slogan “I ♥ NY.” JetBlue will sublease 200,000 square feet from MetLife in Long Island City’s Brewster building, owned by Brause Realty, led by Read More