South Street Seaport Breaks Ground

A rendering of the shops at Pier17

The Howard Hughes Corporation launched the redevelopment of the South Street Seaport today with a groundbreaking ceremony for the Pier 17 building.

The $200 million project will yield 365,000 square feet of retail space — a mix of shops, dining and entertainment options — highlighted by a one and a half-acre rooftop and what the developer said will be a world-class restaurant, two outdoor bars and an amphitheater with a 4,000-person capacity. Read More


The Commercial Observer Real Estate Quiz

West 42nd Street

Every so often—like now, the beginning of spring—we at The Commercial Observer strive to unearth long forgotten trivia buried somewhere in the annals of New York City real estate history.

In this week’s issue, we’ve dug up questions spanning technical minutiae, the stomping grounds of a young Martin Scorsese (pictured) and, of course, a little History 101 that should be familiar to real estate professionals young and old. Below, Commercial Observer staff writer Billy Gray provides the questions and answers. Read More

Lease Beat

Holwell Shuster & Goldberg Takes 35,681 Feet at 125 Broad Street

125 Broad Street

Law firm Holwell Shuster & Goldberg LLP has signed a 35,681-square-foot, three-year lease at 125 Broad Street – in a space that fits the firm like a glove.

The firm took the entire 39th floor of the building, which features sweeping views of the Statue of Liberty and New York Harbor and was subleased from international law firm Sedgwick LLP, which moved out and recently moved into its new space at the World Financial Center, sources tell The Commercial Observer.

“Holwell Shuster & Goldberg is a relatively new law firm that is growing very quickly and expects to continue growing very quickly,” said L. Craig Lemle, a senior managing director at Studley who represented the law firm along with Nick Zarnin. Read More