Lease Beat

Brooklyn Getting its First Michael Kors, Fossil and Justice Stores [Updated]

Kings Plaza Shopping Center

South Brooklyn’s Kings Plaza Shopping Center will be home to the borough’s first Michael Kors, Fossil and Justice stores, the mall announced.

Michael Kors, which sells sell apparel, accessories and footwear, leased 4,000 square feet at the borough’s only enclosed mall. Fossil will sell its watches, handbags and jewelry out of a 1,100-square-foot space at the mall and Justice girls clothing store will sell its wares from a 4,200-square-foot space. Read More

Wired City

Marc Jacobs Takes Tech for Payment at Soho Pop-Up Shop

Trendy designer Marc Jacobs invited pop culture and freebie-seeking fashionistas to a pop-up shop in Soho for Mercedes-Benz Fashion Week. The 1,746-square-foot Daisy by Marc Jacobs store at 462 West Broadway is what the company called a “tweet” shop. The location was created as a place where customers could take photos, tweet and post messages on social media about the brand. In exchange for promoting the company to friends, visitors were rewarded with free items including new fragrance samples and prizes as well as a raffle for other rewards. Read More

Lease Beat

Law Firm Renews Nearly 60,000 SF at Brookfield Place Complex

200

Law firm Richards Kibbe & Orbe LLP has signed a 59,323-square-foot renewal of its headquarters space at 200 Liberty Street, which is part of Brookfield Office Properties‘ Brookfield Place complex in Lower Manhattan.

The firm, which serves the financial and business communities, with offices in New York City, Washington, DC, and London, occupies the entire 28th and 29th floors Read More

Lease Beat

Brooklyn’s City Point Lands First Office Tenant

A rendering of City Point

Artist management and creative content agency Art Partner has signed a 15-year lease to occupy 10,000 square feet at the City Point in Downtown Brooklyn, becoming the development site’s first office tenant.

The agency, whose services include production, syndication and licensing for print, film, social media and more, plans to relocate from its Hudson Square Read More

Cover Story

Downtown Manhattan, Uptown Chic

(Photo: lowermanhattan.info)

Burberry. Salvatore Ferragamo. Ermenegildo Zegna. Michael Kors. Scoop. Hermes. Judith & Charles. Calypso St. Barth.

It’s an impressive list of retailers. What’s more striking is that Brookfield Office Properties cut deals with all of them this year, and they’ll be sharing a home at the revamped Brookfield Place beginning next year, forming an unprecedented shopping destination Downtown. Read More

3Q2013

Sunshine by the Square Foot

Aerial Photographs of New York City - Archive Images

While it did not rival what some recalled as a “blistering” second quarter, the Manhattan commercial real estate office market continued to gain momentum in the third quarter, and most real estate observers took the growth as a sign of more to come.

Positive absorption and rising rents throughout Manhattan are on track to rain in a strong end to the year, as Midtown remained steady, Midtown South shined, and Downtown turned heads.

Read More

Lease Beat

Club Monaco Signs 5,100-Square-Foot Lease At 532 Broadway

Club Monaco's current store at 520 Broadway.

Club Monaco is moving on up to the northeast side of Broadway and Spring Street.

The mid-price casual apparel company signed a 15-year, 5,100-square-foot lease at Thor Equities532 Broadway in Soho and will move there from its current 14,500-square-foot location at 520 Broadway.

Robert Cohen of RKF represented the tenant. Joseph Sitt‘s Thor Equities represented the landlord in-house. Asking rents were $800 per square foot. Read More

Lease Beat

Vornado Scoops Ground Lease at Art Deco Gem Swiss Center

608 Fifth Avenue

Vornado Realty Trust has reportedly taken control of the ground lease at the landmarked 11-story Swiss Center at 608 Fifth Avenue, where the REIT is marketing 44,440 square feet of retail space across four of its floors.

Vornado took over RFR Realty’s mortgage on the property last March with an $8.5 million payment that RFR owed to another lender and signed the ground lease on the property with the family of the late Sarah Korein, which owns the land under the building, according to the New York Post. Read More

Lease Beat

Michael Kors Set to Open Flagship in Soho

Courtesy of Fashion BI

Michael Kors will be opening a new flagship store in Soho.

The purveyor of womenswear, currently operating out of 101 Prince Street in Soho, will grab 15,000 square feet at 520 Broadway for its new flagship. Coincidentally, the deal comes in light of the recent surge in popularity of their wristwatches and handbags. Read More

Lease Beat

Ted Baker to Open Fifth Avenue Flagship

Ted Baker

Ted Baker, the high-end clothing retailer, will open a flagship store at 595 Fifth Avenue, it was announced today.

The U.K.-based company signed a long-term net lease for 12,000 square feet at the corner of 48th Street and Fifth Avenue, just down from retail icon Saks Fifth Avenue. Ted Baker will use three of the five floors of the building, which they will rent in its entirety, for retail, while the balance are for office and showroom uses. Just a block from high-profile tenants Michael Kors and LaCoste, the space could command up to $2000 per square foot, sources not affiliated with the deal speculated. Read More

Prospective Tenants

Michael Kors Goes Shopping

Even exquisitely uncomfortable pointy-toed dress shoes can’t keep Michael Kors from practically any retail neighborhood in the city he so desires.

It reportedly took ages to lure the designer to check out Unago’s former space on Madison Avenue for his New York City flagship. But once they got him through the door, Read More

Details on Michael Kors’ New Bleecker Corner

384 Bleecker Street

‘Tis the season of fashion, and Michael Kors has celebrated by opening yet another retail location.

The designer to the fabulous set has signed a 12-year lease for a corner spot at 384 Bleecker Street in Greenwich Village totaling 1,475 square feet.

“Michael Kors will be an exciting new Read More

How Long Does It Take to Sign Michael Kors?

790 Madison Avenue

The new Michael Kors store on Madison Avenue was, according to the Dana Commercial Group of Prudential Douglas Elliman, a shining illustration of the “traditional” tenets of real estate brokerage. Namely, a location, a meeting and some ink on a dotted line.

With the former Ungaro store, Read More