Earlier this month, an esteemed panel of real estate professionals fielded questions on the state of the commercial real estate market in post-Bloomberg New York. The panel, part of the sixth annual NYC Real Estate Expo, was moderated by Commercial Observer‘s Lauren Elkies Schram. While Ofer Yardeni, chief executive officer and co-chairman of Stonehenge Partners, caused a stir with his “bubble” talk, there were other gems shared by the colorful panelists.
Read a story about the panel here or watch a segment of the panel in the News Funnel video.
New York City-based, Sweden-inspired coffeehouse FIKA will open its 12th store in the city this September at 555 Avenue of the Americas in Chelsea, the Wall Street Journal reported this morning.
The chain signed a 10-year, 1,300-square-foot lease for a storefront in a Stonehenge Partners building between West 15th and West 16th Streets with an asking rent of $275 per square foot, according to a press release from the firm, which also owns a luxury residence next door.
Tales of Investments
Ofer Yardeni and Joel Seiden of New York City-based real estate owner and building manager Stonehenge have purchased a 90,000-square-foot, 13-story apartment building at 103 East 86th Street, off Park Avenue in Carnegie Hill, for $76 million.
The sale was an off-market deal brokered by Aaron Jungreis of Rosewood Realty, who told The Commercial Observer that he thought long and hard before pinpointing a buyer.
SL Green Realty Corp. is teaming up with Stonehenge Partners to redevelop a former residence for St. Luke’s Hospital Center staff into luxury apartments. The building, at 1080 Amsterdam Avenue, will be obtained by the two, via a 99-year ground lease, and then redeveloped. Total cost of the investment is estimated to be $13 million.
RECon: Las Vegas
Can The Commercial Observer party at its own party? You bet! The CO got down at its annual Power 100 celebration, which honors its picks for the top 100 most powerful, influential and successful real estate figures in the city. Held at the Core Club in Midtown on Monday night, the gathering featured a collection of the most distinguished owners, brokers, executives and politicians. After the jump, a minute-by-minute color commentary on the city’s most powerful human beings.
The International Council of Shopping Centers began to thin out notably on Tuesday, as vendors packed up their bags and folded up their booths and brokers headed out to McCarren International Airport for what we presume was a long flight home. Still, The Commercial Observer stuck around to breath in the last fumes of Las Vegas and its final call of RECon festivities, including the New York Developers Party at the Bellagio, widely considered the finale of the conference’s flurry of dealmaking and networking.