Two Manhattan investors known for their retail holdings, Bobby Cayre and Alex Adjmi, inked a contract last week to pay approximately $23.2 million for a large retail building in the Hub, the South Bronx’s main shopping district, sources familiar with the transaction told The Real Deal. [more]
Posts Tagged ‘alex adjmi’
Harlem’s 125th Street, which along with the rest of the neighborhood took a hard hit during the recession, is once again beginning to thrum with commercial activity, the New York Times reported. Two new major retail developments are underway on what has traditionally been the area’s shopping hub. The first, a four-story 100,000-square-foot shopping center at 301 West 125th Street, located at the corner of 125th Street and Frederick Douglass Boulevard, will be anchored by a 30,000-square-foot Designer Shoe Warehouse. It will also house the city’s first Joe’s Crab Shack, and a health club under Equinox’s budget brand Blink…. [more]
The Riese Organization, a retail-focused firm that specializes in budget restaurants, signed a contract this month to pay $17.5 million for a low-rise building on a bustling block of West 34th Street, the company’s owner, Dennis Riese, told The Real Deal.
But the sale is already the subject of a lawsuit from the Adjmi family, who are partners in the ownership of the building, as well as investors in a group that was competing with Riese Organization to buy the building. The family claims their partners improperly selected a lower bid from Riese Organization to purchase the building, down the block from Macy’s. [more]
A high-profile ownership group is moving forward with plans for a 39-story, 330-room hotel on West 35th Street, the New York Post reported, and is in talks with five hotel brands to stake a flag on the property.
The property, a former Howard Johnson between Seventh and Eighth avenues, was released back to the ownership group of Bobby Cayre, Alex Adjmi, Michael Cayre and Jack Dushey after begin “tied up” by the Metropolitan Transportation Authority, the Post said. [more]
After battling out Joe Tabak to acquire a bankrupt Williamsburg development, Cayre family’s Midtown Equities closed on the property and will bring a Whole Foods to the site.
According to the New York Post, a partnership of Michael Cayre’s Midtown Equities, Bobby Cayre’s Aurora Capital and Alex Adjmi bought 242 Bedford Avenue, at North 4th Street, from Yahuda Backer for $23 million. [more]
Discount clothing department store Marshalls and drugstore CVS are interested in leasing space in a troubled development site in Williamsburg, once the stalled construction project is completed, several brokers said. The national chain retailers are looking at a lower-level space at 242 Bedford Avenue, just south of North 4th Street, the brokers, who asked to remain anonymous, said. The half-built site is owned by Yehuda Backer’s Williamsburg-based Backer Group, which halted construction several years ago. Instead, the parcel has only steel shells with no current construction evident.