The Real Deal New York

Midtown neighborhood news

  • From left: Michael Gross and 180 West 58th Street

    From left: Michael Gross and 180 West 58th Street

    Writer and real estate chronicler Michael Gross has successfully unloaded his two-bedroom apartment at Alwyn Court. [more]

  • From left: 645 Fifth Avenue, 711 Fifth Avenue and 653 Fifth Avenue

    From left: 645 Fifth Avenue, 711 Fifth Avenue and 653 Fifth Avenue

    A flurry of activity along Fifth Avenue’s prime retail stretch has a wave of newcomers moving into prime locales, while longtime mainstays revamp flagship stores or move into their own new digs. [more]

  • 245-Cohen-Chetrit

    From left: 245-247 West 34th Street (Photo: Google), Richard Cohen and Joseph Chetrit

    The Chetrit Group snapped up two adjacent properties across the street from Madison Square Garden in the heart of the Penn Plaza commercial district in January for $31.5 million and today won approval from the city to demolish them. [more]

  • From left: Andrew Posil, 70 West 45th Street and a room in the Cassa Hotel

    From left: Andrew Posil, 70 West 45th Street and a room in the Cassa Hotel

    Massey Knakal’s Capital Services division has lent HNA Property Holdings, a subsidiary of a Chinese airline, $80 million to refinance its debt on a hotel property near Times Square. [more]

  • Hank Ratner (inset) and Madison Square Garden

    Hank Ratner (inset) and Madison Square Garden

    Madison Square Garden president and chief executive Hank Ratner, who oversaw the arena’s recent $1 billion renovation, is to be replaced in the organization’s leadership role. [more]

  • From left: 767 Fifth Avenue, 10 Columbus Circle and 1211 Sixth Avenue

    From left: 767 Fifth Avenue, 10 Columbus Circle and 1211 Sixth Avenue

    International buyers snapped up $5.5 billion worth of Manhattan office towers last year, led by deep-pocketed shoppers from China, Canada and the United Arab Emirates. [more]

  • 619 West 54th Street

    619 West 54th Street

    Taconic Investment Partners has listed its 300,000-square-foot office building at 619 West 54th Street for $160 million.

    Taconic purchased the 10-story property, located in an emerging residential neighborhood that is also home to Two Trees Management’s Mercedes House at 555 West 53rd Street, from KBS Realty Advisors for around $110 million in late 2012. [more]

  • Empire State Building and Anthony Malkin (inset)

    Empire State Building and Anthony Malkin (inset)

    Malkin Holdings’ buyout provision for shareholders who voted against taking the Empire State Building public has been ruled legal in State Appellate Court. [more]

  • Meadow Partners inks first hotel deal

    February 20, 2014 04:02PM
    yantz-kaplan-2

    From left: Timothy Yantz, Jeffrey Kaplan and the Bedford Hotel at 118 East 40th Street

    The Midtown-based real estate investment firm Meadow Partners closed on a long-term ground lease that includes the payment of $22 million in cash and an annual rent, for a 16-story Midtown hotel. It is Meadow’s first hospitality deal. [more]

  • From left: 501 Madison Avenue and Porsche Design's Soho location at 465 West Broadway

    From left: 501 Madison Avenue and Porsche Design’s Soho location at 465 West Broadway

    Accessories store Porsche Design has signed a 15-year lease for a flagship spot in the newly-revamped 501 Madison Avenue. [more]

  • 1325-sixth

    1325 Sixth Avenue and Frank Doyle

    In recent months, the Paramount Group has booked up roughly 200,000 square feet in new or renewed lease deals at 1325 Sixth Avenue near 53rd Street in Midtown.

    Among the tenants were tech research firm Gartner Inc., financial consultancy Ingalls & Snyder, Merrill Communications and financial software company OpenLink. Gartner and Ingalls & Snyder both grabbed 25,000 square feet – on the 17th and 18th floors, respectively. Cushman & Wakefield broker Kevin Daily represented Gartner, while his colleague Michael Burgio represented Ingalls & Snyder.  [more]

  • Cassa NY penthouse slashes ask to $18M

    February 17, 2014 05:21PM
    70 West 45th Street

    70 West 45th Street

    UPDATED, 10:37 a.m., Feb. 18: The five-bedroom penthouse atop Cassa NY, on the market with various asking prices since October 2010, has slashed its most recent $20.33 million asking price to $18 million. [more]

  • From left: Publicis' Maurice Lévy and 1 Penn Plaza

    From left: Publicis’ Maurice Lévy and 1 Penn Plaza

    UPDATED, 10:50 a.m., Feb. 13:Advertising giant Publicis has inked a deal for nearly 114,000 square feet of temporary space in the lower floors of 1 Penn Plaza. [more]

  • Elliman to add sales firepower to 432 Park

    February 12, 2014 03:10PM
    From left: Susan de Franca, a rendering of 432 Park Avenue (Credit: DBOX for CIM Group & Macklowe Properties) and Harry Macklowe

    From left: Susan de Franca, a rendering of 432 Park Avenue (Credit: DBOX for CIM Group & Macklowe Properties) and Harry Macklowe

    Macklowe Properties and CIM Group have officially brought Douglas Elliman Development Marketing on board to help with sales and marketing efforts at 432 Park Avenue. Elliman has been serving as a consultant on the luxury condominium project right from the outset, but will now be its co-exclusive sales agent, a spokesperson for 432 Park told The Real Deal exclusively. [more]

  • Blackstone's Jonathan Gray and 229 West 43rd Street

    Blackstone’s Jonathan Gray and 229 West 43rd Street

    Blackstone Group’s Equity Office will add yet another so-called TAMI (technology, advertising, media and information) tenant to 229 West 43rd Street, The Real Deal has learned. Online advertising network Collective is taking the entire eighth floor – nearly 58,000 square feet – at the property, according to sources familiar with the deal. [more]

  • sharif-al-gamal

    Sharif El-Gamal and 205 West 40th Street

    Sharif El-Gamal, developer of Park51, is in contract to buy the Garment Center Synagogue in the hopes of tearing down and building a high-rise with a new synagogue, hotel and retail center.

    El-Gamal teamed up with Murray Hill Properties to redevelop 205 West 40th Street near Seventh Avenue. The New School for Design is expected to officially sell off the site for $61.5 million by March. [more]

  • 25 Columbus Circle

    25 Columbus Circle

    UPDATED, 5:12 p.m., Feb. 11: A three-bedroom duplex condominium at the Residences at the Time Warner Center that last changed hands in 2009 is back on the market for $35 million. [more]

  • Aby Rosen, Picasso's "Le Tricorne" and the Four Seasons Restaurant

    Aby Rosen, Picasso’s “Le Tricorne” and the Four Seasons Restaurant

    Aby Rosen’s plans to remove a Pablo Picasso painting from the Four Seasons Restaurant lobby at the Seagram Building may be in jeopardy. A new lawsuit seeks to block the removal of the “Le Tricorne” painting, claiming that removal could damage the painting permanently and that it was being carried out due to Rosen’s dislike of the masterpiece. [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]

  • Live like Babyface for $5.25M

    February 06, 2014 09:03AM
    Babyface and 241 East 52nd Street

    Babyface and 241 East 52nd Street

    A Midtown townhouse which once belonged to legendary R&B record producer Babyface has hit the market asking $5.25 million. The 241 East 52nd Street property was on the rental market in 2012 asking $23,740 a month, as The Real Deal reported.

    The townhouse, located between Second and Third avenues, totals 3,650 square feet and features a garden and “livable” basement, according to the listing by Tristan Harper of Douglas Elliman, who previously had the rental listing. It also has a “through-wall” music system, security system and a wine cellar. [more]

MENU