Standing Tall

The City’s Tallest Building, at Hudson Yards?

Hudson Spire - 435 10th

The real estate industry sat wide-eyed in anticipation of the ruling by the Council on Tall Buildings and Urban Habitat in November that officially named 1 World Trade Center the tallest building in the Western Hemisphere, beating out Chicago’s Willis Tower

But in the not too distant future the gleaming new tower could have competition in its own backyard – Hudson Yards, that is – as Massey Knakal is exclusively marketing the sale of a development site that it believes could spawn what the firm has dubbed “The Hudson Spire,” an 1,800-foot-tall super-skyscraper.  

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REBNY 2014

The Rudin Way

Bill Rudin

Bill Rudin sits at the helm of one of the largest privately owned real estate companies in the city. Like much of the Real Estate Board of New York community, in addition to his firm’s undertakings, he often puts at the top of his agenda initiatives that might not always show immediate results but which are essential for the future success of the city. Mr. Rudin, a REBNY vice chairperson, spoke to The Commercial Observer about his current projects, REBNY, major real estate happenings over the last year and what needs to be done to keep New York City competitive. Read More

Grand Openings

4 World Trade Opens Later this Week

4 World Trade Center Under Construction

Officials are reportedly planning a ribbon-cutting ceremony next Wednesday for the opening of 4 World Trade Center, which will make the 978-foot building the first to open at Ground Zero.

“We want people to come and experience this both as a great office building but also a sense of accomplishment that we’ve really turned the Read More

World Trade Center

Trade Center Concourse Cost $225 M.

(Photo: Fox News)

The price tag apparently matches the grandeur of the new underground concourse that passes underneath the World Trade Center site, which opened to pedestrians for the first time since 9/11 two weeks ago.

The Port Authority of New York & New Jersey passageway told Next City that the passageway cost approximately $225 million.

The 600-foot Read More

The Sit-Down

Measuring Up with Peter Weismantle

1WTC

Flags waved and onlookers cheered back in May when construction workers hoisted a crown atop 1 World Trade Center. The gleaming tower reached a symbolic 1,776 feet, and the Port Authority proclaimed it the “tallest building in the Western Hemisphere.” An official ruling had not been made, however, throwing the building into a rivalry with 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

Sales Beat

Hong Kong Firm Scoops Fifth Avenue Hotel

Langham

Hong Kong-based Great Eagle Group has closed on the $229 million purchase of a 214-room hotel, formerly The Setai Fifth Avenue, which comprises floors one through 27 at 400 Fifth Avenue in Midtown.

“We are pleased to have completed this transaction and the timing couldn’t be better, especially with The Residences at 400 Fifth Avenue Read More

The Sit-Down

What About Bob: CBRE’s Robert Alexander on Hudson Yards

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In 2005, CBRE broker Mary Ann Tighe told The New York Times that there had never been a “phenomenon quite like Bob Alexander.” What’s more phenomenal is that the 58-year-old chairman of the firm’s tristate region still ranks among its top brokers, having landed some of the city’s highest-profile deals this year as a lead broker representing Read More

ICSC 2013

Retail on the Rebound: Spirits High at ICSC Event

(Credit: LeVar Thomas)

In 2009 and 2010 “you could have rolled a bowling ball down the aisle” at the International Council of Shopping Centers’ RECon conference “and it wouldn’t have hit anybody,” Massey Knakal executive vice president of retail leasing Benjamin Fox told The Commercial Observer.

But when an estimated 33,000 real estate professionals converged upon one million Read More

One World Trade Center

One World Trade Center Crowned

1_WTC_rendering

The final two sections of One World Trade Center‘s 408-foot, 758-ton spire where bolted into place yesterday morning, maxing the building’s height out at 1,776 feet and making it the tallest in the Western Hemisphere, according to the Port Authority.

The spire will double as a state-of-the-art broadcast facility that will provide transmission services for the Read More

One World Trade Center

Crowning of One World Trade Center Postponed

(Credit: Al Barbarino)

One World Trade Center will not be the tallest building in the Western Hemisphere – at least not today.

The scheduled Monday morning delivery of the final two sections of the building’s 408-foot, 800-ton spire was cancelled due to heavy winds.

The two stainless steel sections, comprising the 17th and 18th pieces of the spire, will bring the building to 1,776 feet, at which point it will supercede Chicago’s Willis Tower as the tallest building in the Western Hemisphere. Read More

Lease Beat

Accounting Firm EisnerAmper Amps Things Up at 750 Third Avenue

750 Third Avenue

Accounting firm EisnerAmper has signed a lease renewal and expansion at 750 Third Avenue, The Commercial Observer has learned.

The eight-year lease solidified the firm’s existing 138,000 square feet across floors 13 through 17 and 21, while adding 12,000 square feet on the 22nd floor.

“They have a dynamic, growing practice,” said Newmark Grubb Knight Frank Vice Chairman Mark Weiss, who represented the tenant with Rob Eisenberg and Robert Emden.

“It’s a good building, near Grand Central and with great functionality – and the landlord has been very reliable,” he added, referring to SL Green Realty Corp. Read More