The Real Deal New York

Midtown neighborhood news

  • Midtown Apple store cube secures patent

    August 28, 2014 02:50PM
    Apple store cube at 767 Fifth Avenue

    Apple store cube at 767 Fifth Avenue

    Apple has secured a U.S. patent on the glass cube design atop its subterranean Fifth Avenue store in Midtown Manhattan.

    The tech giant initially applied for a trademark on the design in front of the GM Building at 767 Fifth Avenue back in 2010, and a decision on that application is still pending. Apple received a European trademark on key design elements of its retail stores within the EU last month, and a cylindrical glass topper for the company’s Shanghai store received a patent in 2012, 9to5mac reported.  [more]

  • Perlbinder-sm

    245 East 36th Street (Photo: Microsoft)

    Perlbinder Realty, the Manhattan real estate firm led by brothers Stephen and Mark Perlbinder, won its third extension for a long-delayed mixed-use high-rise planned for Second Avenue between 36th and 37th streets, partly spanning an entrance to the Queens Midtown Tunnel.

    The site is a large one, and so is the question mark about its future. The owners have not developed it since first winning approvals from the city in 2002. At the moment, the property has a parking lot on part of the land. The north portion is occupied by a ramp providing access to the Queen Midtown Tunnel, which is operated by the Metropolitan Transportation Authority. [more]

  • The Mobil Building at 150 East 42nd Street

    The Mobil Building at 150 East 42nd Street

    Real estate investors David Werner and Mark Karasick have secured the funds to complete their acquisition of the leasehold position in the iconic Mobil Building, The Real Deal has learned. Meridian Capital Group and Eastdil Secured arranged a $700 million loan for the 1.8 million-square-foot property at 150 East 42nd Street. The deal is one of the biggest financings of the year. [more]

  • From left: Cushman & Wakefield's Sherry Cushman, 4 Brookfield Place and a rendering of Manhattan West

    From left: Cushman & Wakefield’s Sherry Cushman, 4 Brookfield Place and a rendering of Manhattan West

    Gotham law firms are increasingly going the way of big banks, shrinking the amount of space per attorney and relocating from pricey Midtown locales in an attempt to reduce office space overall. [more]

  • 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]

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