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]
Posts Tagged ‘daffy’s’
Landlord Charles Cohen, the owner of 135 East 57th Street, has decided to market two large retail spaces at the Midtown office tower himself, rather than turn to several brokers he had previously enlisted to arrange the leasing, the New York Post reported.
Cohen had faced an uphill battle finding a retail tenant at the property because of a Daffy’s location next door, the Post said. The discount apparel retailer, which is in the process of closing up shop, had scared away luxury retailers from moving close by. [more]
The leases on eleven former Daffy’s stores will hit the auction block in December, Crain’s reported. Five of the stores are in Manhattan, one is in Queens, one is in the Bronx and three are in New Jersey. GA Keen Realty Advisors is handling the sale.
The leases at 10 former New York City locations of discount department store Daffy’s are now being marketed by JEMB Realty Corp. The firm has partnered with Aurora Capital Associates to sell off the leasehold interests, totaling 15 in the New York area, which it acquired for $43 million after the retailer filed for Chapter 11 bankruptcy in July, according to an Aurora announcement.
The largest location is the 50,000-square-foot flagship at 135 East 57th Street. Other interests included in the portfolio are located in the Flatiron District, the Financial District, Soho, Times Square, Madison Avenue and Columbus Circle. [more]
Real estate investors Aurora Capital Associates have purchased the discount clothing chain Daffy’s for an undisclosed amount, sources told Real Estate Weekly.
Aurora is now searching for subtenants for all of Daffy’s 19 stores in the New York metropolitan area. Last month, the store announced that all locations will be closing over the coming months as the company liquidates its assets. [more]
The discount retailer Daffy’s today announced that all locations will be closing over the coming months, Crain’s reported. This comes as part of a company liquidation and follows suit with discount retailer Syms, which also shuttered its stores.
Discount clothing retailer Daffy’s is striking back at landlord Cohen Brothers Realty, owner of 135 East 57th Street, five months after the chain store beat back an effort by the building owner to throw it out of its basement retail space where it is paying a below-market rent.
Secaucus, N.J.-based Daffy’s accused Cohen Brothers of poor upkeep of the building resulting in water damaging the retailer’s mostly-underground 54,000 square feet of space, and is seeking more than $5 million, a suit filed in New York State Supreme Court March 10 shows. In addition, the suit claims Daffy’s has been overcharged for air conditioning, electricity and other expenses.
Discount department store Daffy’s has inked a deal to lease 28,000 square feet in the former New York Times building in Times Square, according to the Wall Street Journal, in a coup for Africa Israel USA, which had been struggling to find tenants there since it purchased the property at the height of the market. Last year, the company changed course at the 750,000-square-foot building, at 229 West 43rd Street, moving to convert it into retail space, a hotel and condominiums instead of attempting to fill it with office tenants. … [more]
Discount clothier Daffy’s has generated considerable buzz in the past several weeks with the Daffy’s apartment contest, which promises the winner a year’s lease on a 1,380-square-foot, two-bedroom West Village apartment at 1 Seventh Avenue South on the corner of Clarkson Street for just $700 (some have estimated that the unit’s real rental value is $7,000 per month). Over three weeks in July and August, Daffy’s collected 2,867 video entries and is now calling upon the public to vote for a winner amongst the five finalists. The clip above, which will air tonight at Daffy’s Fashion’s Night Out party from 6 p.m. to 11 p.m., is a compilation of the many contestant submissions. An additional prize, the Daffy’s Closet, featuring $1,000 worth of clothes, will be on the block at Daffy’s Soho and Upper East Side locations. TRD
Even though the stock market is rising, national and local landlords are bearing the brunt of the recession, especially when the tenants are jewelry retailers. A National Jeweler article noted that the top 50 North American jewelry chains have closed 891 retail locations in 2009. Last week, the fine jewelry retailer, Finlay Enterprises and its subsidiary Finlay Fine Jewelry, filed for Chapter 11 bankruptcy. The company had 182 department store-based jewelry departments and stand-alone jewelry stores at the end of the second quarter ending August 1, including 67 Bailey Banks & Biddle, 34 Carlyle and four Congress specialty jewelry stores and 77 licensed counters with Bon Ton department stores. … [more]
To compete with luxury department stores that are now advertising lower
priced products, discount clothing chain Daffy’s is starting a contest.
The prize is a one-year lease at $700 per month for a furnished apartment at One Seventh Avenue South in the West
Village. The apartment usually rents for $7,000 per month. To win,
people must go to a Daffy’s store between July 23 and August 14 and make a 30-second video about why
they deserve to win the apartment. The company will choose five
finalists and the public will select the winner from videos posted on
the company Web site. Daffy’s has 17 stores in New York and northern