The Real Deal New York

Lower Manhattan neighborhood news

  • 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]

  • A rendering of the South Street Seaport redevelopment

    A rendering of the South Street Seaport redevelopment

    The city has put on hold Howard Hughes Corporation’s plan for a 50-story hotel and apartment tower at the South Street Seaport. [more]

  • Larry Silverstein and 3 World Trade Center renderings

    Larry Silverstein and 3 World Trade Center renderings

    Larry Silverstein is asking the government to cut him a better financing deal at Silverstein Properties’ unfinished 3 World Trade Center. Executives at the development giant told government officials the firm needs more favorably-structured municipal bond financing to resume construction on the 80-story, 2.5 million-square-foot Lower Manhattan tower. [more]

  • Nick Denton and 210 Elizabeth Street (Credit: PropertyShark)

    Nick Denton and 210 Elizabeth Street (Credit: PropertyShark)

    Gawker Media is expanding its offices at Nolita’s 210 Elizabeth Street. Gawker currently occupies the third and fourth floors of the building, owned by real estate investor Stanley Wasserman, and will now add the second floor to its empire of snark. [more]

  • Zara to launch FiDi outpost

    January 27, 2014 03:55PM
    Rendering of the newly revamped Fulton Transit Center and Zara's 666 Fifth Avenue outpost

    Rendering of the newly revamped Fulton Transit Center and Zara’s 666 Fifth Avenue outpost

    Spanish fashion chain Zara has inked a deal for a tri-level space on the corner across from a newly revamped Fulton Transit Center. [more]

  • fortis

    151-161 Maiden Lane and Jonathan Landau

    Not long after acquiring a site along Maiden Lane in Lower Manhattan, Fortis Property Group revealed its new residential tower project will be 52 stories tall and hold 95 units, according to the firm’s chief executive Jonathan Landau. [more]

  • WTC fence to come down after 13 years

    January 27, 2014 08:38AM
    The fence at the World Trade Center site

    The fence at the World Trade Center site

    A fence that has cordoned off the World Trade Center site from the rest of Downtown for the past 13 years is set to come down – at least partially – in 2014. The move will allow visitors to the 9/11 Memorial to move freely between the memorial and the neighborhood, according to Joe Daniels, president of the National September 11 Memorial & Museum. [more]

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