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Sneak Peek: East Side Access, the $8 Billion Project Bringing Long Island Railroad to Grand Central

In January of 1999 President Bill Clinton’s budget proposal to congress included $20 million in funds for East Side Access, a project that would bring the Long Island Railroad to Grand Central Terminal, which turns 100-years-old on Saturday. The projected cost back then was $2.2 billion.

Metropolitan Transportation Authority Capital Construction President Michael Read More

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250 West 55th Street and 1717 bway

1717 Broadway, Newly Topped Out, Carries the Torch Blighting Rivals’ Views

1717 Broadway, a new hotel development that has the distinction of being the tallest in the Western Hemisphere, has topped out at a lofty 750-feet, the tower’s developer Granite Broadway Development and its construction manager CNY Builders announced on Thursday. The building will house a Marriott Courtyard on the lower floors and a 261-unit extended stay Read More

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Bill Elder

RXR Takes The CO On A Tour Of Dazzling 620 6th Avenue

Last year, RXR Realty, led by chief executive Scott Rechler, acquired 620 Avenue of the Americas, a roughly one million-square-foot office building in the heart of Midtown South for over $500 million.  The property continues to demonstrate Mr. Rechler’s genius for spotting value. Since the acquisition, the neighborhood’s popularity has only continued to rise – Read More

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MSCI takes 125,000 square feet at 7 World Trade Center

The Boldest Commercial Leases of 2011

After three years of lamb-like hesitation, the world’s boldest office tenants returned to the market with a vengeance, proving that, even during times of uncertainty, big deals can still be made. With Bloomberg, Conde Nast and Bank of America leading an aggressive leasing charge, 2011 marked the year of Read More

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photo credit: Steve Friedman

Holiday Galas 2011

Since law firm Fried Frank kicked off the holiday gala season with its annual party at Cipriani 42nd Street last week, the commercial real estate industry has been awash in spirits-soaked, caviar-speckled bacchanals from the trendy Dream Downtown to Gotham Hall.And while networking and deals are often the primary objective, so too are dancing, dining Read More

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photo courtesy of www.starrett-lehighbuilding.com

The Biggest Building Sales of 2011

All told, the commercial building sales that actually saw daylight this year transformed the city. And those that didn’t, well, they made a mark, too. From Google to Coach on the upside, and Beacon Properties on the downside, the biggest buys and near misses of 2011 left Read More

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Best of 2010: New York’s 15 Biggest Real Estate Machers

New York City is a real estate town, meaning the people who help shape it are some of the most important in the city. After 2009, one of the worst years for the industry in memory, 2010 has been surprisingly active, even if a lot of that activity involved deals unwinding. Oh well! 2011 will Read More

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Honk If You Love the Midtown Tunnel

Do you hear that? It’s the sound of a thousand commuters throwing their heads on their horns in exasperation at the mouth of the Queens-Midtown Tunnel.

Not only will they spend precious minutes of family time waiting for the slightest signs of motion, but it turns out this vital piece of infrastructure belongs in a Read More

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Prospective Tenants: The Scorecard

Throughout the past 12 months, The Commercial Observer reported on tenants actively looking for new space, regardless of whether those tenants (or their brokers, or their landlords) wanted the marketplace at large to know. Information is power! And so forth …

Here are some of the prospective tenants we reported on, including retail and office, Read More

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The Top 10 Lease Expirations of 2010

The city had more than a dozen leases of more than 100,000 square feet that were set to expire in 2010, and the fate of each of the top 10 represents various trends in the market. A number of companies, such as law firm Paul Weiss, the National Basketball Association and pharma firm Forest Laboratories Read More