World Trade Center
More than three years after developer Sharif El-Gamal faced a firestorm over plans for an Islamic prayer and community center in lower Manhattan, the head of Soho Properties is searching for temporary space for Park51, Commercial Observer has learned.
Yesterday afternoon, Aziz Friedrich from Soho Properties was spotted touring a 2,000-square-foot second-floor space at 44 Trinity Place, being marketed by Eastern Consolidated’s James Famularo and Ravi Idnani. The asking rent for the Trinity Place space is $100 per square foot and the lease term is 10 years, according to the listing. It seems an unusual space for a center since it is above Wogies Bar & Grill. Messrs. Famularo and Idnani declined to comment.
The Port Authority of New York and New Jersey has officially opened the first platform of the new World Trade Center PATH station.
The new station, Platform A, will ultimately replace the interim station currently serving riders at the World Trade Center and is the centerpiece of the approximately $4 billion transportation hub project occurring at the site, the Wall Street Journal reported.
World Trade Center
Financial services firm Wellington Shields has signed a 10-year lease renewal at its 140 Broadway headquarters in Lower Manhattan.
The 18,579-square-foot covers part of the 51-story building’s 44th floor and sources said asking rents were $55 per square foot.
Studley broker Jason Schwartzenberg, who represented the tenant with Joseph Messina, said in a prepared statement that Read More
The World Trade Center site experienced numerous milestones last year, and now the blue fence that cordoned the 16-acre site off for the last 13 years will reportedly come down this year to show them all off.
The process of removing the fence, which will begin as early as May, will allow for a free flow of pedestrian traffic between the National September 11 Memorial & Museum and the rest of Lower Manhattan.
More than a decade ago, with just 30,000 people living south of Chambers Street and the neighborhood largely silent at night and on the weekends, high-end, luxury retail in lower Manhattan was at best a pipedream and at worst a failed enterprise.
Today, with some $20 billion being spent on new construction between the upper stretches of Battery Park City and Broadway, the residential community has doubled to 60,000 and continues to grow. That affluent community of residents, not to mention increased tourist traffic, has upped the demand for luxury retail.
Burberry, Hermès, Ferragamo, Michael Kors and Zegna are some of the luxury names to have signed on at Brookfield Place, while J. Lindeberg and Tory Burch head the list of names rumored to be in talks for space at Westfield’s World Trade Center retail corridor.
The Port Authority of New York and New Jersey is selling the remaining 50 percent interest in the 365,000 square feet of space within the retail complex being built at the World Trade Center site to Westfield Group for $800 million.
That brings the total price tag, combined with the $600 million Westfield paid for Read More
The World Trade Center site has been closed off from lower Manhattan and the rest of the city for 12 long years. But by this time next year, the site will be fully reintegrated back into the streetscape, and New Yorkers will reclaim the Downtown they once knew. It’s no coincidence that major developments at Read More
World Trade Center
The The tiff was most recently on display as “rival” command center vehicles for the respective police departments pulled up outside of the site, with the NYPD snubbing Port Authority requests to roll off, according to the report.
While one law enforcement source called the rivalry “childish” and another apparently laughed it off as a “playground Read More
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
World Trade Center
Antonio “Nino” Vendome, chairman of Vendome Group, has announced the simultaneous opening of two new art galleries in West SoHo’s Hudson Square district.
The first gallery, Studio Vendome, is located in American architect Philip Johnson’s Urban Glass House at 330 Spring Street. The second gallery, Studio Vendome Projects, is located at 30 Grand Street, across from Read More
The underground concourse that passes underneath the World Trade Center site is open to pedestrians for the first time since 9/11.
The passageway links businesses and ferry service to the west of the site to PATH trains and Lower Manhattan to the east.
The 600-foot underground concourse within the 800,000-square-foot transportation hub, which, according to Read More
The annual forecast from the New York Building Congress estimates that 2013 construction spending will eclipse the peaks of 2007.
New York City Construction Outlook 2013-2015, completed with support from the New York Building Foundation and assistance from Urbanomics, estimates total construction spending will reach $31.5 billion this year, greater than the previous high of Read More
A survey of more than 100 prominent commercial real estate machers states that Downtown Brooklyn is the neighborhood to watch, beating out heavy-hitters including Hudson Yards as the city’s Most Likely to Succeed.
“This could be another ‘prestige’ breakthrough for Brooklyn,” William H. Jennings, partner-in-charge of Marks Paneth & Shron, said in a prepared statement. “Many people already think it’s much ‘cooler’ to live in Brooklyn than Manhattan. It may soon be the ‘hot’ place to office.”
Sprinkles Cupcakes has signed a 7,000-square-foot lease extension and expansion at 780-782 Lexington Avenue, giving the shop an additional 1,000 square feet for the launch of an ice cream undertaking next to its existing Manhattan cupcake operation.
An “ATM machine” outside the shop will allow customers to order cupcakes 24 hours a day, according to Read More
Time Warner is “leaning towards” selling its 1.1-million-square-foot headquarters at 60 Columbus Circle and moving to Hudson Yards, Following the cue from anchor tenant Coach, last month SAP and L’Oréal cut deals to lease 115,000 and 402,000 square feet at Related Companies’ South Tower, respectively, bringing it to 80 percent occupancy.
A media company with the influence and scope of Time Warner would be a game-changer for the Yards, some believe.
“The next tenant is an important moment for the district because it starts to build real momentum with tenants from other parts of the city,” Derek Trulson, a broker at Jones Lang LaSalle, who represents Extell Development Co. in leasing its site in the area, told the Journal.