By Billy Gray 3/26 12:52pm

Food & Drink

The Lumberjack Slam at Denny's.

Residents at 150 Nassau Street Slam Proposed Denny’s Restaurant

Denny’s, the chain of 24-hour hour restaurants that calls itself “America’s diner,” signed its first New York City lease, and neighbors are queasy.

The company known for healthy portions of unhealthy grub has been eying Manhattan locations for some time, a spokesman told DNAinfo. Denny’s last year inked a deal for a ground floor space at the 23-story 150 Nassau Street, which went condo in 2003 and is a Grand Slamwich’s throw away from City Hall. Read More

By Billy Gray 3/19 8:00am

Lower Manhattan 2013

140 William Street

Keeping Pace: As One-Time Commuter School Expands, Retailers and Students Clamor for Space in Lower Manhattan buildings

When David Falk toured Pace University’s new dormitory at 180 Broadway in January, he was struck not only by the gleaming facilities but also by what they said about the 107-year-old school.

Mr. Falk, the New York tristate region president of Newmark Grubb Knight Frank, has worked with the university since 1999. The new building “is beautiful,” Mr. Falk said. “It’s the new Pace.”

The transformed school has helped alter the real estate landscape of lower Manhattan. In the past 15 months, Pace has inked deals for the entire 47,000 square feet at 140 William Street, renewed a 32,707-square-foot office lease at 156 William Street, and, with partner SL Green, announced plans for a 30-story dormitory at 33 Beekman Street.

The 220,000-square-foot 180 Broadway—also a joint project with SL Green—came to light in the darkest days of the recession. Pace wanted to bring about 600 beds back to its lower Manhattan campus from Brooklyn Heights. Read More

By Al Barbarino 2/12 8:30am

Power Broker

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On Top of the World: SL Green’s Steve Durels on Last Year’s Viacom Deal and the Projects Reshaping Manhattan

When Viacom pulled the trigger on its 1.6-million-square-foot renewal and expansion at 1515 Broadway last year, SL Green Realty served up a stinging rebuke to swirling rumors that the media giant would relocate.

But company executives with the city’s largest landlord were well aware that the firm’s most coveted tenant had toyed with the idea Read More

By Al Barbarino 1/14 3:19pm

Manhattan Market Report

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Education Sector’s Manhattan Office Space Surges With Monster Deals and Expansions

Though it still makes up just two percent of the Manhattan office market’s total inventory, a number of significant deals have caused a surge in the education sector’s Manhattan footprint.

A report from CBRE attributes the 47 percent jump in office space leased by the sector – between 2005 and November 2012 – to a growing residential population, increases in enrollment at universities, campus expansions, greater availability and lower asking rents in sections of Midtown South and Downtown. Read More

By Al Barbarino 12/13/12 7:30am

Lease Beat

7-11-logo

7-Eleven Takes 2,500 Square Feet at 111 Fulton Street

Convenience store chain 7-eleven has signed a long-term lease for roughly 2,500 square feet of retail space at 111 Fulton Street in the Financial District, The Commercial Observer has learned.

Ross Kaplan of Newmark Grubb Knight Frank represented the landlord, while Ariel Schuster and Greg Covey at RKF represented the tenant.

“There’s a flurry of activity going on Downtown,” Mr. Kaplan said, who has represented the landlord for the last year.  “Tourism and a dense commercial and residential population is a big draw for retailers in this part of town, especially quick-service shops.” Read More

By Al Barbarino 12/12/12 2:46pm

Lease Beat

111 Fulton Street (Credit: Emporis)

Au Bon Pain Takes 2,600 Square Feet at 111 Fulton Street

Au Bon Pain has signed a long-term lease for roughly 2,600 square feet of retail space at 111 Fulton Street in the Financial District, The Commercial Observer has learned.

Ross Kaplan of Newmark Grubb Knight Frank represented the landlord, while Jacqueline Klinger of The Shopping Center Group represented the tenant.

“There’s a perfect storm going on Downtown,” said Mr. Kaplan, who has represented the landlord over the course of the last year.  “The dense commercial and residential population, as well as the tourism in the area, is a great draw for retailers.”

Read More

By Daniel Geiger 2/08/12 11:44am

Lease Beat

156 William Street.

Pace Renews at 156 William Street

Pace University has renewed its 32,707-square-foot lease at the downtown office building 156 William Street, sources have told The Commercial Observer.

The university will lease the building’s entire fifth floor and a portion of the eighth. Asking rents at the property, a 190,000-square-foot building owned by Capstone Equities, are in the $30s per square foot. Read More

By Daniel Geiger 1/06/12 11:45am

Lease Beat

140 William Street (photo courtesy of Property Shark)

Pace Dances Into 140 William Street

Pace University has reached an agreement to move into 140 William Street, taking the entire 50,000 square foot building for its dance and visual arts programs, The Commercial Observer has learned.

The school will be relocating from its current space at 280 Broadway, said David Falk, president of Newmark Knight Frank who represented Pace in the deal. Read More