C&W Wins Citigroup Assignment

388-390 Greenwich Street.

Citigroup has hired Cushman & Wakefield to manage its real estate portfolio in the U.S. and Canada, according to The Wall Street Journal.

The real estate services company will assume responsibility for the investment bank’s 27 million square feet of office, retail and data space from JLL, which chose not to bid on the contract when it came up for renewal, the Journal reported. The assignment includes Citigroup’s headquarters at 388-390 Greenwich Street in Tribeca, which is triple-net leased to the bank through 2035. Read More


Douglas Elliman Tapped to Market 412 Columbus Avenue Retail Space

412 Columbus Avenue

Douglas Elliman is marketing the 1,409-square-foot retail space at 412 Columbus Avenue, Commercial Observer has learned. The firm’s leasing and sales team of Faith Hope Consolo and Joseph Aquino has been awarded the exclusive agency for the space, the duo’s third assignment on the block.

“We are redoing the entire block front,” Ms. Consolo said. “For a long time the Upper West Side was about sneakers and sweatpants. Now, it’s lululemon and lipstick.” Read More


Red Hook Five-Building Complex Hits Market

12-18 Commerce Street

The Brooklyn commercial real estate brokerage TerraCRG will exclusively represent the sale of 12-18 Commerce Street, an 11,200-square-foot property in Red Hook.

Five buildings constitute the 107-foot-by-100-foot lot between Richards and Columbia Streets. The property also includes a 966-square-foot shared courtyard. The asking price is $2.3 million. Read More


Avison Young Named Exclusive Office Leasing Agent of Strand Building

Strand Bookstore

Avison Young has been named the exclusive office leasing agent of The Strand Building at 826 Broadway,The Commercial Observer has learned.

Michael Leff, Anthony LoPresti and Stephen DeFlorio of the fast-growing commercial real estate services firm will manage leasing on behalf of the building’s landlord, Bass Real Estate. The Union Square-area property is home to the legendary Strand Book Store and its 18 miles of books. Read More


CBRE Named Exclusive Agent at 1407 Broadway

1407 Broadway

CBRE has been named the exclusive leasing agent at 1407 Broadway, The Commercial Observer has learned. Peter Turchin will lead the leasing team at the Lightstone Group’s 1-million-square-foot Midtown office building.

In addition to naming a new leasing team, ownership will soon begin repositioning the property, including upgrading the building’s lobby and retail façade—all with a view toward attracting a broader tenant base. Read More


Midtown Equities Wins Coveted Empire Stores Redevelopment in Dumbo

Empire Stores as seen from the Manhattan Bridge

As expected, the city chose Midtown Equities to redevelop Empire Stores in Dumbo, a project that could signal a new phase in the neighborhood’s emergence as a tech and creative powerhouse.

The developer’s proposal beat out nine other submissions vying to transform the 327,000-square-foot site, formerly a coffee and dry goods warehouse that sits between the Brooklyn and Manhattan Bridges.

Read More


Tarter Stats O’Toole Announces Exclusive Assignment in Sizzling Noho

419 Lafayette Street

Tarter Stats O’Toole has announced a plum exclusive assignment and will market nearly 15,000 square feet of retail and office space in one of the hottest intersections below 14th Street.

The firm’s work at 419 Lafayette Street will bring it to Lafayette Street between Astor Place and East 4th Street and within easy reach of The Public Theater, Blue Man Group, Crunch gym, perennially buzzing restaurant Indochine and the fresh, hyped up brasserie Lafayette. Read More


Port Authority Awards World Trade Center Property Management Job to C&W


The property management wing of Cushman & Wakefield scored a major assignment today when the Port Authority of New York and New Jersey named the firm site-wide property manager of the new World Trade Center campus.

As a result of winning the Request for Proposals competition for the prominent job, C & W will manage operate all of the site’s common areas in addition to its river water pump house and central chiller plant, one of the city’s largest providers of air conditioning, which will cool the site’s retail and transportation concourses. Read More


Villard Mansion to be Marketed Toward Retailers and Corporate Users

New York Palace

The Villard Mansion at the New York Palace Hotel, a 27,000-square-foot mansion built by railroad magnate Henry Villard in 1882, will be marketed by CBRE toward flagship retail tenants and corporate users when the property is relaunched in September, The Commercial Observer has learned.

“It is ideally suited for one tenant,” said Jedd Nero, executive vice president at CBRE, who is marketing the space on behalf of owner Northwood Investors LLC. “It is a very unique and rare opportunity that lends itself to a retail flagship type of tenancy.” Read More


Danny Meyer In Talks for Bistro in Harlem


The restaurateur Danny Meyer is considering opening a bistro in central Harlem, according to retail brokers leasing a nine-building portfolio around the intersection of West 135th Street and Frederick Douglass Boulevard.

Faith Hope Consolo, Joseph Aquino and Arthur Maglio of Douglas Elliman were named exclusive leasing agents for the 25,000-square-foot portfolio covering 216, 218, 229, 231, 233, and 235 West 135th Street, 2312 Adam Clayton Powell Boulevard and 2518-2524, 2540 and 2542 Frederick Douglass Boulevard. Read More


Long Occupied 4,452-SF Retail Space Off Union Square Hits Market

111 Fourth Avenue

Tarter Stats O’Toole has scored another major downtown assignment and is marketing the 4,452-square-foot retail space at 111 Fourth Avenue, The Commercial Observer has learned.

The store, on Fourth Avenue between 11th and 12th Streets, was previously occupied for 30 years by Utrecht, an art supplies store. The space features 19-foot ceilings and 45 feet of frontage on the avenue. Asking rent is $125 a foot Read More


Tower Could Rise High on 14th Street and Avenue C Corner Lot

644 East 14th Street, highlighted

A 10,106-square-foot corner lot that has long provoked speculation about the development potential of East 14th Street is being exclusively marketed for sale by Avison Young, The Commercial Observer has learned. And a near-absence of height restrictions has brokers dangling the possibility of a tower on a site with 65,689 square feet of development rights.

Neil Helman and Charles Kingsley of Avison Young’s capital markets group are the sales agents for 644 East 14th Street, which is currently occupied by a vacant one-story building. The site could hold a 65,689-square-foot as-of-right mixed-use development. There are an additional 70,000 square feet worth of unused development rights from properties to the west of the parcel. Read More


Eastern Consolidated Tapped to Sell Homes of The Harrison, Flor de Sol and Five Guys

The Harrison at 355 Greenwich Street

Eastern Consolidated is marketing the $11.2 million sale of a package of buildings that house downtown restaurants The Harrison, Flor de Sol and Five Guys Burgers and Fries, The Commercial Observer has learned.

A Swedish investment group that owns the three properties tapped Eastern to sell the adjacent Tribeca buildings at 355 and 361 Greenwich Street. The Five Guys branch is located at 496 LaGuardia Place. Read More