The Real Deal New York

Midtown neighborhood news

  • Cohen-Missry-Polevoy-One57

    From left: Bruce Cohen, Morris Missry, Martin Polevoy and One57 at 157 West 57th Street (Photo credit: John Cahill)

    Within the lofty heights of New York City commercial and residential real estate world, it’s often a given that as the prices rise, the number of industry professionals equipped to service such buyers and sellers, declines. [more]

  • From left: 1441 Broadway and a rendering of the renovated building

    From left: 1441 Broadway and a rendering of the renovated building

    The city’s last Office Depot will shutter its doors near Times Square at the end of the year. The move comes as the company trims more than 150 locations nationwide by year’s end following its acquisition of former rival Office Max. [more]

  • Clark-245-1251-ESB-Malkin

    From left: Ric Clark, 245 Park Avenue (Credit: CoStar), 1251 Sixth Avenue, Empire State Building and Anthony Malkin

    The sales pricing per square foot for Manhattan office buildings has been surging over the past several years. A look at revenue growth for class A office towers, however, reveals a far different picture. [more]

  • 144 East 48th Street

    144 East 48th Street

    Arch Street Capital, a Greenwich, Conn.-based real estate investor and adviser, purchased the leasehold interest at the Midtown Extended-Stay Marriott at 144 East 48th Street from AEW Capital Management for $89.6 million.

    The deal was funded with a $57 million loan from Barclays, according to the New York Observer. The transaction hit city records Tuesday. [more]

  • Holliday-719

    SL Green Realty CEO Marc Holliday (Photo: Steve Friedman) and 719 Seventh Avenue (Photo: Google)

    A small firm that leases the entire Times Square building that powerhouse real estate investment trust SL Green Realty purchased in July for $41.1 million, is refusing to take orders from its new landlord. [more]

  • From left: Josh Zegen, the Morgan Lofts at 11 East 36th Street and Michael Shah

    From left: Josh Zegen, the Morgan Lofts at 11 East 36th Street and Michael Shah

    UPDATED, 3:08 p.m., August 14: The Bobker Group will get to hold on to the Morgan Lofts for now, after securing $19 million in financing on the same day the unsold condos at the property were headed to a Chapter 11 bankruptcy auction. [more]

  • From left: 511 West 35th Street and Eliot Spitzer

    From left: 511 West 35th Street and Eliot Spitzer

    Eliot Spitzer is planning to build a hotel with a retail component on the Hudson Yards development site his firm snapped up last year for $88 million. And the former New York governor is apparently willing to shell out millions more for a bigger building. [more]

  • 321 East 60th Street

    321 East 60th Street

    The investment firm that bought a portfolio of Lenox Hill properties three years ago that had been amassed by a late plumber baron is looking to sell off a parking lot at the foot of the Queensboro Bridge for $14.6 million. But what the development site lacks in charm, it makes up for with the potential to generate bonus air rights that could be worth tens of millions of dollars. [more]

  • Leviev-Jekyll-Finley

    From left: Chagit Sofiev-Leviev, Jekyll & Hyde Club at 216 West 44th Street and Donald Finley

    Times Square landlord Africa Israel USA spooked the founder of the bankrupt mystery-themed restaurant Jekyll & Hyde Club with a demand for $2.2 million this week. [more]

  • 11 Times Square Schotz

    From left: 11 Times Square and Jeffrey Schotz

    The New Jersey-based developer of 11 Times Square, the city’s largest speculative building when it broke ground in the summer of 2007, is moving its executive offices to the Crossroads of the World as it looks to expand its footprint in New York City.

    SJP Properties, the family run business that has been headquartered in Parsippany, N.J. since its inception in 1981, is moving an executive team of about 10 to 12 people in September into 5,000 square feet the company has taken in the 40-story office tower it built in 2007. [more]

  • Nello Balan and the interior of the restaurant at 14 East 58th Street

    Nello Balan and the interior of the restaurant at 14 East 58th Street

    High-end restauranteur Nello Balan, known for his eponymous, pricey eatery on Madison Avenue, may be bringing his posh pasta farther uptown. [more]

  • 505 west 43rd

    From left: 505-513 West 43rd Street and Andrew Scandalios

    A Hell’s Kitchen development site fetched just $1 million more than its sales price from six years ago when the Elad Group picked up the 43rd Street property for $43 million earlier this month.  [more]

  • From left:

    From left: Vickram Jambu, 15 West 39th Street and Jeremy Nazarian

    The 16-story commercial property at 15 West 39th Street, which has 80,858 square feet of net-leasable square feet above grade, is up for grabs, The Real Deal has learned. Real estate investment and advisory firm Venture Capital Properties has been tapped by the owners to market the property, which asks $65 million. [more]

  • From left: Gale Brewer, Midtown East and Daniel Garodnick

    From left: Gale Brewer, Midtown East and Daniel Garodnick

    On Wednesday politicians gave the city’s developers a better idea about who will devise recommendations meant to pave the way for the rezoning of Midtown East. [more]

  • Renderings of 1 Vanderbilt

    Renderings of 1 Vanderbilt

    Design plans for SL Green’s 67-story glass tower across from Grand Central went before Community Board 5’s landmarks committee last week, where the proposed transparent façade set back at an angle on 42nd Street met with mixed reviews. [more]

  • Moore Capital founder Louis Bacon and 11 Times Square (Credit: CoStar)

    Moore Capital founder Louis Bacon and 11 Times Square (Credit: CoStar)

    After several months of deliberation, Moore Capital Management finally seems set to plant its flag atop 11 Times Square, The Real Deal has learned. [more]

  • anton-scandalios

    From left: Eric Anton and Andrew Scandalios

    Long-time property broker Eric Anton, who was most recently with the New York office of capital markets firm Brookfield Financial, is starting today with the local office of the national brokerage HFF, Anton told The Real Deal.

    Anton, 45, is joining HFF as a senior managing director after three years at Brookfield. Anton spent most of his brokerage career at one of New York City’s largest local brokerage firms, Eastern Consolidated, where he started in 1998. [more]

  • 31 West 34th Street

    31 West 34th Street

    Shared office space provider Jay Suites is adding another full floor to its 31 West 34th Street location, Juda Srour, president of the firm, told The Real Deal.

    Jay Suites currently has about 28,000 square feet on the seventh floor of the 300,000-square-foot, 11-story building, located between Fifth and Sixth avenues. This deal will give it another 28,000 square feet on the entire eighth floor. The company will pay rents in the low-$50s per square foot, in line with what it is paying for the seventh floor. [more]

  • Aerial view of the 138 East 50th Street site (Source: Google Maps)

    Aerial view of the 138 East 50th Street site (Source: Google Maps)

    The plans for Ceruzzi Properties’ 138 East 50th Street were revealed today, as permits listing SLCE as the architect of record surfaced in city records.

    The new tower will be a hotel totaling 220,638 square feet, according to permits uncovered by New York YIMBY. The property will include 7,036 square feet of retail, while the hotel in the 52-story skyscraper above will house 764 rooms. In total, the property will stand 502 feet tall. [more]

  • From left: 30 Rockefeller Center topped by the current GE sign and the new Comcast/NBC logo

    From left: 30 Rockefeller Center topped by the current GE sign and the new Comcast/NBC logo

    The Landmarks Preservation Commission approved new signage for 30 Rock yesterday, in a move that will bring down the giant General Electric sign at the tower’s apex. [more]

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