By Gus Delaporte 5:45pm

MSG

MSG

Christine Quinn Calls for 10-Year Permit for MSG

City Council Speaker and mayoral candidate Christine Quinn has announced her support for a new Penn Station in a letter to Madison Square Garden President and CEO Hank Ratner, suggesting the Garden be granted a 10-year special permit to operate an arena of more than 2,500 seats.

In her letter to Mr. Ratner, Ms. Quinn contrasted the “thrilling moments” experienced by New Yorkers at Madison Square Garden against the congested commuting experience at Penn Station. Read More

By Al Barbarino 5/09 12:17pm

Lease Beat

One Penn Plaza

Presidio/Blue Water Merger Spurs New One Penn Plaza Lease

IT-solutions firm Presidio Networked Solutions has signed a long-term, 14,106-square-foot lease at One Penn Plaza following its acquisition of BlueWater Communications LLC.  

The two firms will move from the separate spaces they occupied on the 19th and 16th floors, respectively, consolidating onto the 28th floor.

“They wanted to put both companies together in an efficient office environment that would be conducive to business,” John Pavone of DTZ, who represented the tenant with Nick Bates, told The Commercial Observer. Read More

By Gus Delaporte 5/07 7:15pm

MSG

MSG

City Planning Proposes 15-Year Limit for MSG Special Permit

At a meeting yesterday, the City Planning Commission proposed a 15-year term for Madison Square Garden’s application for a special permit to operate an arena of more than 2,500 seats. The proposal, some way short of MSG’s request the permit be renewed in perpetuity, is still a small victory over previous suggestions of a 10-year limit.

Opponents of Madison Square Garden’s request point to the need for a renovated Penn Station, a process which is inhibited by the arena’s location. A term limit, they say, provides ample time for both Madison Square Garden to find a new location and for plans for a new Penn Station to be drawn up. Read More

By Gus Delaporte 9:00am

The Plan

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W&H Properties Seeks Restaurateur for 1359 Broadway

The ground-floor space at 1359 Broadway, formerly occupied by Kosher Delight restaurant and The Luggage Source, is currently being repositioned as a restaurant space across three levels—ground, mezzanine and lower.

Newmark Grubb Knight Frank is marketing the 13,900-squarefoot space to be an American-style, upscale-casual restaurant with lunch, dinner and bar service.

With a location just seven minutes from Madison Square Garden and in the heart of a growing office market in Midtown, the large space at 1359 Broadway is ideally suited for a restaurant group. Jared Lack, managing director of the retail group at NGKF, spoke with The Commercial Observer last week about how the W&H Properties-owned space will benefit future tenants. Read More

By Gus Delaporte 4/11 4:45pm

MSG

MSG

Opponents and Defenders of MSG Spar at Planning Commission Hearing

Shortly into yesterday’s City Planning Commission public hearing on the special permit application for Madison Square Garden—an event that would stretch into the evening—a comparison to Brooklyn’s Barclays Center was made. It was an early indication of what would be a recurring theme throughout the day.

A number of obstacles facing the Garden, from its age and inferior infrastructure to its request for special signage, were brought to the fore as Planning Commissioner Amanda Burden heard from a list of 50 speakers, ranging from State Assemblyman Richard Gottfried to former New York Knick Larry Johnson, he of the four-point play. Read More

By Billy Gray 4/02 10:00am

The Sit-Down

Vin Cipolla (Credit: Sasha Maslov)

Preserving Manhattan: Municipal Art Society’s Vin Cipolla

Before becoming president of the Municipal Art Society in 2009, Vin Cipolla had founded three companies, presided over the National Park Foundation and been the executive vice president of the National Trust for Historic Preservation. His ability to move between the corporate and public sectors prepared him well for his role at MAS, which is among the city’s most prominent civic preservation groups. Between the proposed rezoning of Midtown East and the sea change under way in Midtown West, the MAS has a full plate. Mr. Cipolla, 56, still had time to talk to The Commercial Observer about those two issues, as well as Mayor Bloomberg’s legacy and the future of Manhattan’s center. Read More

By Al Barbarino 3/27 9:08am

Lease Beat

(Credit: WiredNewYork)

iLevel Solutions Signs 11,000 SF Sublease at 2 Penn Plaza

iLevel Solutions has subleased an 11,000-square-foot portion of Forest Electric’s space on the fourth floor of 2 Penn Plaza, the companies announced this morning.

The deal represents the firm’s first foray into the New York City office market, a push to grow and expand beyond its second offices in New Jersey.

“iLevel Solutions needed more space for staff to develop innovative software and support top tier customers,” said Ted Rotante, an executive managing director with Colliers International, who represented Forest Electric with Ernest DeLucia and James Marcellino, in a prepared statement. “The iLevel team wanted office space consistent with a technology company culture while also affording a convenient commute.” Read More

By Al Barbarino 3/01 10:07am

Lease Beat

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Law firm Goetz Fitzpatrick Inks 17,600 SF Lease at 1 Penn Plaza

Law firm Goetz Fitzpatrick has signed 12-year renewal and expansion at 1 Penn Plaza, The Commercial Observer has learned.

The construction and commercial litigation firm moves from its 13,000-square-foot space on the 44th floor to 17,600 square feet on the 31st floor as part of the firm’s ongoing growth plan.

The firm has been in the building, owned and operated by New York-based real estate investment trust Vornado Realty Trust, since the 1970’s, brokers said.

“The Firm’s practice areas are all doing well, which supports their recent growth,” said Newmark Grubb Knight Frank’s Mark Weiss, who represented the law firm with Robert Eisenberg.  “It’s a great building and there’s a long history there between the tenant and the landlord.” Read More

By Gus Delaporte 2/15 11:12am

MSG

CB 5 Recommends Denial of Proposed MSG Special Permit Application

At a meeting last night, Community Board 5 in Manhattan unanimously recommended a proposed special permit application from Madison Square Garden to operate an arena with more than 2,500 seats be denied unless certain parameters are met, Wally Rubin, district manager, told The Commercial Observer this morning.

“Just to be clear, this isn’t about any frustrations or lack of understanding that the Garden is an important part of New York and is an economic driver for the City,” added Raju Mann, acting chair of CB5’s Land Use Committee.

The Garden is currently going through New York’s uniform land use review procedure (ULURP) to renew the special permit.

The Garden’s original special permit expired last month and the arena is currently operating under a Temporary Certificate of Occupancy. The TCO is standard while a building is under construction, according to a Madison Square Garden spokesperson. Read More

By Al Barbarino 12/20/12 7:15am

Year in Real Estate

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A King-Sized Deal In Brooklyn Marked the Biggest Investment Sale of the Year

Brooklyn malls don’t usually come to mind as the city’s highest-grossing commercial real estate. But this year was different, with 5100 Kings Plaza, a k a the Kings Plaza Mall, taking the top spot among citywide sales when it sold for $751 million earlier this month.

It wasn’t just the biggest sale of the year—it was the biggest outright, single-trade sale in Brooklyn ever, according to data provided by Massey Knakal Realty Services. Read More

By Karsten Strauss 12/06/12 7:45am

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34th Street Partnership Eyes Ambitious Retail Makeover

This week, as brokers and retailers descend upon Manhattan for the International Council of Shopping Centers’ conference in New York, retail consultants John Harding and Richard Cohan, of the 34th Street Partnership, will be meeting with eight to 10 representatives of brands, restaurants and stores each day to convince them to seek locations in the 34th Street area. Given the retail and brand presence already in place along the retail corridor, they may not have to try very hard.

Mr. Cohan, one of the organization’s retail specialists, lists B&H, Gap, Victoria’s Secret, H&M, Foot Locker and Zara as brands that have found a home in the area. There are also newcomers—Joe Fresh and Vince Camuto have set up shop between Seventh and Eighth Avenues, and Timberland landed in the area last year, as did Uniqlo. Read More

By Jotham Sederstrom 3/30/12 8:00am

The Lobby

John Wheeler, Jones Lang LaSalle.

Eastern Consolidated, Partner Engineering and Science, Lee & Associates and Jones Lang LaSalle

Jones Lang LaSalle has promoted John Wheeler to head the firm’s lower Manhattan office, it was announced this week.

Mr. Wheeler, who boasts nearly 30 years of commercial real estate experience, including the past 16 years with Jones Lang LaSalle, will oversee the lower Manhattan office while continuing to provide brokerage and advisory services to some of the firm’s most significant clients.

“John Wheeler was the natural choice to lead Jones Lang LaSalle’s activities in Downtown New York,” said Peter Riguardi, president of Jones Lang LaSalle’s New York region. “Lower Manhattan is one of the most important and challenging office submarkets in the tristate area, and our commitment to the area has never wavered. John is one of a very few individuals with the skill and expertise to oversee our work downtown, and to continue to expand on our track record of success there.” Read More