James Famularo, managing director of NYCRS, and 504 Sixth Avenue

The West Village will be adding yet more European flair to its tree-lined streets as it welcomes an espresso franchise direct from the continent.

A 2,500 square-foot espresso bar, a European franchise, will be moving to 504 Sixth Avenue, at 13th Street, according to a spokesperson for New York Commercial Real Estate Services, which represented both the landlord and the tenant in the 10-year lease deal. The asking rent was $34,500 per month. [more]

From left: David Arena, Elizabeth Stribling, David Schlamm and Barak Dunayer

In the wake of the financial crisis that ripped through the country, real estate pros did their best to keep their heads above water in 2009. As 2010 commences, The Real Deal asked a number of New Yorkers hailing from different parts of the real estate industry why they are glad 2009 is over. Click here to see what they said is their top reason. TRD

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From the September issue: The term “vulnerable” is not typically associated with the alpha dogs
of New York City’s high-powered commercial real estate world. But that
is precisely how a number of top commercial firms are feeling these
days, and to compensate, they are taking extra measures to ensure that
landlords can’t stiff them.
An increasing number of brokers are having legal language inserted
into their contracts stating that if their commission is not paid by a
certain date, it will come from the tenant they worked with, instead of
the landlord. The “rent in lieu of commission” clause, as it is
unofficially known, is structured so the payment won’t cost the tenant
a dime; rather, it will simply be deducted from the rent they would
otherwise pay to the landlord. Last month one of the city’s top brokerage firms issued a 10-point
memo to its commission-based employees explaining ways that they can
best protect their spoils. [more]