The Real Deal New York

Lower Manhattan neighborhood news

  • 10 West

    10 West Street

    A luxury condominium at the Ritz-Carlton New York, Battery Park hits the auction block next month — a rare sales scenario within the five boroughs. [more]

  • From left: 30 Park Place, Fulton Street Transit Center and 56 Leonard renderings

    From left: 30 Park Place, Fulton Street Transit Center and 56 Leonard renderings

    Four years from now, Lower Manhattan will be virtually unrecognizable. [more]

  • From left: Renderings of 55 and 45 Broad Street

    From left: Renderings of 55 and 45 Broad Street

    New renderings were leaked of Bill Rudin’s tower slated for 55 Broad Street in the Financial District, revealing yet another lofty structure coming to Lower Manhattan.

    Tentative plans for the mixed-use building, which Rudin Management tapped architecture firm FXFOWLE to mock up, call for a 53-story, 742-foot-tall skyscraper in place of the existing 35-story office tower at the site, as The Real Deal previously reported. [more]

  • From left: Former parking garage at 111 Washington Street, current lot and Bob Knakal

    From left: Former parking garage at 111 Washington Street, the site now and Bob Knakal

    A pair of developers who picked up a distressed lot in the Financial District a few years back for a cool $57.5 million is now asking five times that amount for the property. [more]

  • Model of the proposed WTC Arts Center

    Model of the proposed WTC Arts Center

    The planned performing-arts center at the World Trade Center in Lower Manhattan faces stiff competition for funds.

    A pet project of Mayor Bloomberg, who appointed the first members of the managing non-profit’s board in 2011, the $469 million project now sits in limbo while Mayor Bill de Blasio comes to a decision about the future of the planned center. [more]

  • 55-broadway

    From left: Jordan Slone, 55 Broadway and Daniel Blanco

    Virginia-based private real estate investment firm Harbor Group International is in contract to buy the 361,000-square-foot office building One Exchange Plaza in the Financial District from Broad Street Development, The Real Deal has learned. [more]

  • One New York Plaza

    1 New York Plaza

    Hot on the heels of Revlon’s 15-year, 90,000-square-foot lease at 1 New York Plaza, the National Association of Insurance Commissioners is relocating its Capital Markets and Investment Analysis Office to Brookfield’s 50-story office tower.

    The NAIC inked a 13-year lease for a 19,219-square-foot sliver of the building’s 42nd floor, and will pay rent in the low $40s per square foot. The office will relocate from 48 Wall Street. [more]

  • 388-390 Greenwich Street

    388-390 Greenwich Street

    SL Green has agreed to pay nearly $800 million for Ivanhoe Camrbidge’s stake in 388-390 Greenwich Street, where Citigroup’s headquarters are located.

    The firm will plunk down $783 million for a 49.4 percent stake in the 2.6 million-square-foot office building, the New York Observer reported. Following the purchase, SL Green will hold full ownership of the building, for which the consolidated investment is valued at $1.58 billion. “We have enjoyed a successful partnership with Ivanhoe Cambridge at 388-390 Greenwich, capped by Citi’s recent lease extension, which was one of the largest lease transactions ever executed in New York,” Andrew Mathias, president of SL Green, said in a prepared statement. [more]

  • Rendering of the South Street Seaport

    Rendering of the South Street Seaport

    The added scrutiny Howard Hughes Corporation is undertaking at its proposed South Street Seaport project could mean an added layer of discussion for other projects aiming to sprout around the city under Mayor Bill de Blasio’s administration. The planned 50-story tower’s review process could prompt others to create working groups to further vet projects before they reach ULURP. [more]

  • dennys

    Renderings of Denny’s at 150 Nassau Street in Financial District

    The developers of a proposed Denny’s in the Financial District received unanimous backing from Community Board 1 for a liquor license — despite mounting opposition from residents. [more]

  • Renderings of 17 John Street

    Renderings of 17 John Street

    A Manhattan-based developer that aims to raise $31 million from equity investors in $100,000 increments to convert an apartment building at 17 John Street into an extended-stay hotel is also crowdsourcing the property’s design. [more]

  • From left: One World Trade Center, falling ice and the WTC PATH station

    From left: One World Trade Center, falling ice and the WTC PATH station

    As if the average New Yorker’s commute wasn’t fraught enough, 1 World Trade Center’s design sent ice shards plummeting over 1,000 feet onto the nearby PATH station and 9/11 memorial pool Monday morning, disrupting transportation services. [more]

  • helmut-jahn-and-greenburger.jpg

    50 West Street and Francis Greenburger

    Time Equities has tapped the Marketing Directors to handle sales and marketing for Francis Greenburger’s resurgent 50 West Street, the developer’s 63-story luxury condominium tower.

    Slated for completion in 2016, 50 West kicked off marketing last month with a teaser website launch and virtual video. Architect Helmut Jahn designed the property, while interior designer Thomas Juul-Hansen outfitted the interior. [more]

  • 110-william

    Jonathan Dean and 110 William Street

    Developer Kent Swig has signed Microsoft recruitment agency Nigel Frank International at 110 William Street in the Financial District.

    The England-based Nigel Frank, which recruits job candidates for Microsoft, grabbed a five-year lease for 14,000 square feet. Colliers International broker Seth Hecht represented the staffing specialist. Swig’s investment and development firm Swig Equities has been looking to sell the 900,000-square-foot office property, after tapping Eastdil Secured to market it in August. [more]

  • Clockwise from left: Regus CEO Mark Dixon, WeWork CEO Adam Neumann and a WeWork space at 175 Varick Street

    Clockwise from left: Regus CEO Mark Dixon, WeWork CEO Adam Neumann and a WeWork space at 175 Varick Street

    (For related story, see “Space invaders: The five biggest shared space providers in NYC)

    Late last month, shared office space provider WeWork, founded by pony-tailed Kabbalah practitioner Adam Neumann, made its second foray into Midtown South. WeWork’s 115,000-square-foot deal at 113-133 West 18th Street put it in a prime position to lure startups looking to bask in the tech-crazed aura of Twitter, which recently announced it would set up its New York headquarters just a block away at 245-249 West 17th Street. [more]

  • 161 William Street

    161 William Street

    Longtime Lower Manhattan resident Pace University is picking up additional space at 161 William Street.

    The school signed a seven-year lease for the entire 11,552-square-foot 10th floor — the 19th in its spread at the 22-story building. Rents for the new space were in the mid-$30s per square foot. Dennis Brady of Jack Resnick & Sons represented the landlord in-house, while David Falk and Kyle Ciminelli of Newmark Grubb Knight Frank represented Pace. [more]

  • From left: Larry Silverstein, 4 World Trade Center, and screenshots of the Super Bowl commercial with Arnold Schwarzenegger and Don Cheadle

    From left: Larry Silverstein, 4 World Trade Center, and screenshots of the Super Bowl commercial with Arnold Schwarzenegger and Don Cheadle

    Larry Silverstein’s 4 World Trade Center has been buzzing with activity – just not of the leasing variety. While the 978-foot Fumihiko Maki-designed tower has only leased about half of its 2.3 million square feet,  it has been serving has a high-end event venue, playing host to cocktail parties, film shoots and fashion shows. And Silverstein Properties has been able to charge a daily fee of $50,000 per floor for the privilege. [more]

  • From left: Studley's Joseph Messina and 140 Broadway

    From left: Studley’s Joseph Messina and 140 Broadway

    Financial services firm Wellington Shields has re-upped its lease for another ten years at 140 Broadway, where it has been based since 1997.

    The firm’s 18,759-square-foot space is located on the 44th floor of the 51-story building, and the agreed-upon rent was reportedly $55 per square foot. Jason Schwartzenberg and Joseph Messina of Studley represented the tenant in the deal, while Robert Constable of Cushman & Wakefield represented the landlord, an LLC dubbed 140 Broadway, in-house. [more]

  • 75-broad-studio

    75 Broad Street and “Say Yes to the Dress: Bridesmaids”

    Shortly after welcoming pasta company De Cecco, JEMB Realty has signed TV production company NorthSouth Productions to a 27,000-square-foot space at 75 Broad Street in the Financial District.

    NorthSouth agreed to pay rent in the mid-$30s per square foot for the 15th-floor space. Cushman & Wakefield broker Peter Cento, Frank Cento and Carlos Suarez represented JEMB Realty in the deal. The production company specializes in reality TV fare such as A&E’s “Paranormal Cops” and TLC’s “Say Yes to the Dress: Bridesmaids.” [more]

  • From left: Donald Trump, 40 Wall Street and Hadassah's Marcie Natan

    From left: Donald Trump, 40 Wall Street and Hadassah’s Marcie Natan

    Hadassah, the Women’s Zionist Organization of America will move Downtown to the Trump Organization’s 40 Wall Street, according to a release from Cushman & Wakefield. The volunteer organization, which advocates for Israeli interests and for health education, will take 46,175 square feet on the seventh and eighth floors of the 72-story building. [more]

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