Sales Beat

Thor Equities and ASB Real Estate Investments Pay $96.5 M for Meatpacking Building

875 Washington Street

Thor Equities and ASB Real Estate Investments’ Allegiance Real Estate Fund have purchased 875 Washington Street in the Meatpacking District for $96.5 million.

The 60,000-square-foot, five-story building, between 13th and 14th Streets, features office and retail space and is located across the street from the High Line Park, a main driver in the neighborhood’s assent as one of the city’s most-travelled retail destinations.

“The Meatpacking District is the place to be in the fashion world, and as purveyors of high-end retail real estate, it is only fitting that we continue to expand our presence here,” said Joseph Sitt, CEO at Thor Equities, in a statement. “Situated among many of the world’s best nightlife, dining, and shopping outposts, 875 Washington is truly in the heart of the excitement and growth of Manhattan.” Read More

RECon: Las Vegas

CBRE’s Susan Kurland on American Girl’s Expansion and KidZania’s Invasion

Susan Kurland.

or a broker who counts top-luxury retailers like Jimmy Choo and REI among her eclectic cache of clients, Susan Kurland, an executive vice president for CBRE’s Retail Brokerage Services, hardly considers representing Mattel’s American Girl brand as child’s play. Her work with the highly popular line of 18-inch dolls has garnered her accolades like REBNY’s Most Creative Deal of the Year Award in 2002 for American Girl’s 45,200-square-foot space at 609 Fifth Avenue. Fresh off of working on a deal that brought fashionably square retailer J.C. Penney to the office and retail portions of 200 Lafayette Street (a building owned by Jared Kushner, the owner of The Commercial Observer), Ms. Kurland spoke about her work with American Girl and the imminent arrival of KidZania, an international chain of family entertainment centers. Read More

Po-Mo Meets Stumptown

Whitney Gets No-Name Cafe

The Danny Meyer restaurant opening in the Whitney Museum next month now has a (preciously post-modern) name: “Untitled.”

Meyer’s Union Square Hospitality Group is re-imagining the former Sarabeth’s space as an all-day breakfast spot inspired, it says, by vintage Madison Avenue coffee shops. Chef Chris Bradley, late of Gramercy Tavern, will serve seasonal staples seven days Read More