On the Market

On the Market

Actually, There Are Three TGI Fridays on the Market

Rendering of 761 Seventh Avenue. (Winick listing)

Commercial Observer reported a week ago that there are two TGI Fridays spaces available for lease, but we have since learned that there are actually three on the market.

Fridays at 761 Seventh Avenue at the corner of West 50th Street has been listed for lease with Winick Realty Group. The building has 6,500 square feet on the ground floor, 6,300 square feet on the second floor and 9,650 square feet on the lower level, according to the online listing. A team led by Jeff Winick started marketing the property this month. The asking rent is $800 per square foot on the ground, $150 per foot on the second floor and $100 on the lower level, said Mark Stempel, the vice president of real estate at the Riese Organization, which owns the license for Fridays in Manhattan. Read More

On the Market

Downtown Brooklyn Development Site Hits Market [Updated]

211-215 Schermerhorn

The owner of a vacant lot in Downtown Brooklyn with potential for development and a premium purchase price has placed the property on the market, Commercial Observer has learned.

Brooklyn developer Nicholas Cammarato bought the 7,556-square-foot lot at 211-215 Schermerhorn Street in 2013 for $16 million, according to property records, but the site might fetch much more this time around in a neighborhood where development site sales are booming. Read More

On the Market

Two TGI Fridays Buildings Hit the Market for Lease [Updated]

TGI Fridays at 34 Union Square East. (Lauren Elkies Schram)

Two East Side buildings that are home to TGI Fridays are available for lease, Cushman & Wakefield announced.

C&W’s Joanne Podell, Ian Lerner, Brandon Singer and Chris Stanton have been appointed as the exclusive leasing agent for the three-story, 12,615-square-foot 34 Union Square East at 16th Street and the six-story, 21,000-square-foot 604 Fifth Avenue between 48th and 49th Streets. Read More

On the Market

Union Square Cafe Space Hits the Market

Union Square Cafe at 21 East 16th Street. (RKF)

The infamous home of Danny Meyer‘s Union Square Cafe has hit the market and is eligible for possession in March, according to newly released marketing materials from RKF.

Union Square Cafe, at 21 East 16th Street between Union Square West and Fifth Avenue, is shuttering due to rising rents commanded by landlord David Ellis RE, as has been widely reported. That is a problem that has been impacting restaurants at all price points, as Commercial Observer previously covered.  Read More

On the Market

Kardashians’ Dash Boutique Dashing Out of Soho?

119 Spring Street.

After four years, the future of the Kardashian sisters’ designer boutique Dash at 119 Spring Street in Soho is up in the air.

The co-op unit that Kourtney, Kim and Kloe Kardashian lease on a month-to-month basis for Dash has hit the market for lease at $1.4 million per year, according to one of the listing brokers, Douglas Elliman‘s Adam Kramer. Read More

On the Market

Controversial Bushwick Rental Building Hits the Market for $81.5M

Colony 1209. (Spruce Capital's website)

Colony 1209, an 127-unit Bushwick rental apartment building that opened earlier this year at 1209 Dekalb Avenue, has hit the market for $81.5 million, according to marketing materials from Massey Knakal Realty Services.

The five-story building, which is between Bushwick and Evergreen Avenues and was bought by Spruce Capital Partners for $58 million in April, has been dubbed the “most controversial building in Bushwick,” according to Bushwick Daily. Read More

On the Market

NYC REIT Closes on 570 Seventh Avenue, Renames Building

A rendering of the lobby at the renamed 200 West 41st Street. (Neoscape)

American Realty Capital New York City REIT, a public non-traded real estate investment trust, recently closed on the $170.3 million purchase of 570 Seventh Avenue from Carlyle Investment Management and Capstone Equities. Now the office building is eschewing its Garment Center history with a new address: 200 West 41st Street.

Along with a new address comes a new identity including an entrance on West 41st Street and a multimillion-dollar repositioning including prebuilts to attract TAMI, or technology, advertising, media and information technology, companies, Commercial Observer has learned. Read More

On the Market

Thor, Taconic Put Samsung-Leased Building on Sales Block

837 Washington Street

Thor Equities and Taconic Investment Partners are marketing the brand new six-story, 63,131-square-foot building leased to Samsung Electronics North America in the Meatpacking District, according to an email flyer that brokers from Eastdil Secured circulated yesterday.

The building at 837 Washington Street next to the High Line and near Google and Apple will boast a Samsung office and marketing hub through September 2025, the flyer says. Read More

On the Market

NGKF Wins Grand Central Retail Listing

Grand Central Terminal

The Metropolitan Transportation Authority has tapped Newmark Grubb Knight Frank for the exclusive marketing of its roughly 150,000 square feet of Grand Central Terminal retail spaces, The Wall Street Journal reported this morning.

NGKF beat out seven other competitors with an agreement that will cost the MTA a broker fee of up to $3.1 million over the deal that could last as long as 10 years, according to the publication. The agency, which operates the 1913 Warren & Wetmore masterpiece’s retail spaces through a leasing arrangement with a landlord partnership that includes Andrew Penson‘s Argent Ventures, chose NGKF to take advantage of the firm’s expertise, said Nancy Marshall, MTA’s director of Grand Central Terminal Development.   Read More

On the Market

ABS Partners Showcases Flatiron District Flagship

ABS Partners

ABS Partners Real Estate showed off an 11,800-square-foot Flatiron District retail space at 915 Broadway between East 20th and East 21st Streets in a party for brokers last night.

The available space, in a building owned by ABS Partners and a group of investors, offers 8,000 square feet of ground-floor space with 19-foot ceilings and 3,800 square feet on the mezzanine level. Read More

On the Market

Home to The Paris Cafe, Other Seaport Building Hit Market

116-119 South Street.

Two mixed-use buildings, including one that is home to The Paris Cafe, have hit the market for $25.8 million, Commercial Observer has learned.

The buildings are the five-story 116-119 South Street, historically known as the Meyer’s Hotel and Paris Cafe, and at 108 South Street, which is a vacant 5.5-story, mixed-use building. The two properties are being offered for sale individually, or as a portfolio for $25.75 million with Eastern Consolidated‘s Adelaide Polsinelli and James Famularo. Read More

On the Market

Boymelgreen Windsor Terrace Complex Hits Market for $90M

33 Caton Place

Developer Sam Boymelgreen has placed The Kestrel, a recently-completed 126-unit luxury residential complex at 33 Caton Place in Windsor Terrace, Brooklyn, on the market for $90 million.

The eight-story building one block from the Prospect Park Parade Grounds with studio through three-bedroom rentals represents a sentimental favorite that the son of Brooklyn developer Shaya Boymelgreen built independently of his father on the site over the past two years and named for a species of falcon that’s “the most beautiful bird in Prospect Park,” Mr. Boymelgreen says. Read More

On the Market

NGKF Shows Off 1251 Avenue of the Americas

David Falk and Christopher Perez

Fresh off of closing on a law firm lease at the Rockefeller Center area building once known as the headquarters of Exxon, Newmark Grubb Knight Frank and Mitsui Fudosan invited brokers to view 1251 Avenue of the Americas and visualize filling the five available floors with new tenants.

The Japan-based landlord and its longtime representatives from NGKF showcased the 100-yard-long, column-free space available on the 51st floor of the 2.3-million-square-foot structure with breathtaking views in order to woo prospective tenants. Read More

On the Market

Development Opportunity Knocks in Heart of Harlem

256-258 West 125 Street.

In a city perpetually deprived of usable space, there is over 100,000 buildable square feet available for development in the epicenter of historic Harlem.

Ariel Property Advisors has been tapped to market a long-term ground lease development opportunity on the site, which includes 256-258 West 125th Street and 243-249 West 124th Street, Commercial Observer has learned. A private New York family is looking to monetize the property, which sits between Frederick Douglass and Adam Clayton Powell Jr. Boulevards, while retaining ownership. Read More