The Real Deal New York

Posts Tagged ‘coach’

  • From left: A handful of representatives of the deals nominated for the award, including Mary Ann Tighe, James Nelson, James Kuhn and Brock Emmetsberger

    From left: A handful of representatives of the deals nominated for the award, including Mary Ann Tighe, James Nelson, James Kuhn and Brock Emmetsberger

    The Real Estate Board of New York has nominated eight sales, eight leases and one financing deal for their “Most Ingenious Deal of the Year Award.” [more]

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  • Reed Krakoff at 40 West 25th Street

    Reed Krakoff at 40 West 25th Street

    Reed Krakoff, the former top designer for Coach who left the company earlier this year to focus on his own label, is taking a 27,000-square-foot space at 40 West 25th Street. Krakoff will be moving from his current space at 516 West 34th Street, which is Coach’s headquarters. [more]

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  • Related inks deal for new Hudson Yards lot

    September 30, 2013 06:00PM
    Related CEO Jeff Blau

    Related CEO Jeff Blau

    The most active developer in the Hudson Yards district, the Related Companies, is in contract to buy another commercial site in the neighborhood with more than 230,000 square feet of development rights, city records show. [more]

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  • coach

    South Tower rendering (credit: Kohn Pedersen Fox) and Coach

    Related Companies has Coach as an anchor at its Hudson Yards mega-project because it signed off on a demand not to lease any space to competitors of the handbag heavyweight. Coach made the no-competitor condition after it bought 740,000 square feet in the development’s Tower C, or the South Tower.

    Related heard from Coach after L’Oreal grabbed 402,000 square feet of the 1.7-million-square-foot building. The lease rider prohibits Related from leasing office or retail space to at least eight competitors, including Polo Ralph Lauren Corp., J. Crew Group and Burberry Group. [more]

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  • Hudson Yards breaks ground on first tower

    December 04, 2012 03:30PM

    From left: the groundbreaking ceremony today and a rendering of the Hudson Yards

    The Related Companies and Oxford Property Group today broke ground at their Far West Side development known as the Hudson Yards. The public-private project is set to rise on 26 acres, the largest swath of as-of-yet undeveloped property in Manhattan.

    Six years since planning began, the first dirt was moved to make way for the Hudson Yards’ South Tower, the 47-story future home of the luxury retailer Coach. That building, at the northeast corner of Tenth Avenue and 30th Street, will include 740,000 square feet that Coach will own as a commercial condominium, as previously reported. [more]

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  • A rendering of Hudson Yards

    After years of planning and negotiation, Related Companies is finally breaking ground on the inaugural tower of its massive Hudson Yards development, the New York Daily News reported. The new structure is known as the Coach tower for the luxury bag-maker, which has agreed to lease nearly 80 percent of the 1.2 million square feet of office space the new tower will create when completed in 2015. The Real Deal will have additional coverage of the event later today. [more]

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  • A rendering of the Coach Tower

    Related Companies is likely to start work on its first Hudson Yards office tower in advance of signing a finalized lease with the Metropolitan Transportation Authority, the New York Post reported. The MTA board is expected to vote tomorrow to let the developer begin $50 million worth of excavation and foundation work at the site, although the lease has not closed.

    Under an agreement from 2010, Related was not permitted to start developing the 26-acre site until the 99-year lease closed. But, as previously reported, MTA Chairman Joseph Lhota said last month that Stephen Ross’ Related was trying to amend the deal, which would require approval from the transit authority’s board. [more]

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  • Rendering of Hudson Yards

    Market dynamics are increasingly compelling users of commercial real estate to buy their spaces instead of renting them, according to Crain’s. As rents creep ever higher, especially for retail space in Manhattan, property prices remain somewhat depressed and interest rates for large corporations to finance purchases descend lower and lower, it’s beginning to make more financial sense for companies to buy their space.

    This trend has come to life recently, in the form of Nordstrom’s decision to buy its Manhattan retail space, and similar decisions by the Federal Reserve at 33 Maiden Lane, Coach at Hudson Yards and Young & Rubicam at 3 Columbus Circle. [more]

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  • CBRE's Bob Alexander and Hudson Yards rendering

    Luxury retailer coach has expanded its presence at Hudson Yards, the New York Post reported, and agreed to purchase an additional 150,000 square feet on top of the 600,000 for which it already signed. Under the terms of its agreement with developer Related Companies, which is down to “paper details,” Coach can add another 100,000 feet to bring its total to 850,000, or one-half of the forthcoming 46-story building’s 1.7 million square feet. [more]

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  • The Related Companies has secured a $200 million construction loan for a 30-story apartment house on a lot on West 30th Street and 10th Avenue it’s developing with partner Abington Properties, Crain’s reported. The loan is slated to close in early 2012.

    The 400-unit property, located close to Related’s Hudson Yards project, will be constructed under New York State’s 80/20 program. It was not immediately clear when the building would be completed, though sources said it would most likely be before the Coach building at Hudson Yards opens in 2015. … [more]

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  • The Related Companies reimagined the design of the first phase of its Hudson Yards project this past summer, the Wall Street Journal reported, after Chairman Stephen Ross became disenchanted with the original renderings.

    “I could tell that Stephen wasn’t in love with it,” Jay Cross, who oversees the West Side project for Related, told the Journal. “He felt he wanted the buildings to be more dramatic. And we found that the marketplace was looking for bigger buildings.”

    The initial design, by William Pedersen of Kohn Pedersen Fox Associates architecture firm, featured three strictly rectangular steel office towers, the shortest in the middle. … [more]

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    From left: Rendering of Hudson Yards and Related CEO Stephen Ross and rendering of Manhattan West and Brookfield CEO Ric Clark
    In their efforts not to fall behind one another in the development of massive West Side sites, Related Companies and Brookfield Office Properties each plan to begin construction at its property early next year, the Wall Street Journal reported.

    At Hudson Yards, at the LIRR storage area between 10th and 12th avenues and 30th and 33rd streets, Related is close to an agreement with Coach for 600,000-square-feet in the first building set to rise at the sites southeast corner. But financing for the building may not be complete until the developer can ink another tenant. … [more]

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  • Time Warner is in talks with the creator of its Columbus Circle namesake for another new headquarters on Manhattan’s Far West Side. According to the Wall Street Journal, the Related Companies is pitching Time Warner on a piece of its $15 billion Hudson Yards development project, less than 10 years after the company moved into its Time Warner Center headquarters. Related, which built the Time Warner Center, is now said to be offering Time Warner the chance to save money and consolidate operations with a move to Hudson Yards, where the developer is planning 12.9 million square feet of office, retail and residential space and has been on the hunt for corporate anchor tenants in order to begin construction. … [more]

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  • The purses and shoes of Coach may be heading to Hudson Yards. The Post reports that the New York City-based company is looking for a new corporate headquarters as large as 600,000 square feet and has been in “very serious” talks with the Related Companies about the prospect of building a new one from scratch on the 26-acre West Side site. Coach, which is said to have around $1 billion in cash on hand, is currently located at 516 West 34th Street, the 265,000-square-foot building it owns and once used for manufacturing. … [more]

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  • Shh!! The art of selling quietly

    November 16, 2009 10:27AM

    Nikki Field of Sotheby’s International Realty at a listing for $7.5 million at 455 Central Park West

    From the November issue: In the fall of 2008, real estate broker Michael Garr was approached by a former client who had bought a large apartment in a tony building the previous spring. The client, who worked in finance, needed to downsize to a less expensive place after the Lehman fallout. But there was a catch: Garr had to keep the plan a secret, because the client hadn’t yet told his wife he was facing financial difficulty. “He didn’t want to upset her and the kids,” said Garr, the founder of Garr and Co., which was acquired this year by the residential brokerage Core. “He wasn’t going to consult her until he had some options.” High-end brokers have always prided themselves on being discreet. But like Garr, many are finding that secrecy has become more important than ever. “Whisper listings” — properties that are for sale, but not officially on the market — are becoming more common, as sellers seek to avoid the perception that they are unloading properties because of financial distress. Also known as “quiet listings,” they are often among the most expensive properties in the city.

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