From the October issue: Back in 2006, when Glenwood Management began assembling parcels on the
eastern edge of the then newly rezoned Hudson Yards district to make
way for Emerald Green, it knew the project would have plenty of company
when it opened. Thousands of high-end apartments in several massive
rental projects were slated to hit the market in the emerging
neighborhood at the same time or soon after. What they didn’t anticipate was the mess of a market they’d be entering. The 24-story, two-tower building, located at 320 West 38th Street, has
just begun renting its 569 apartments, not long after the release of a
quarterly market survey declaring the past year a disaster for rentals. more

Mid-sized Manhattan-based brokerage firm MLBKaye International Realty
is taking a gamble on new storefront offices in the midst of a
downturn. The family-owned company, which is looking to double in size, has
opened a new office at 38 West 8th Street between Fifth and Sixth
avenues, according to Marilyn Harra Kaye, the firm’s president. The new
office is approximately 500 square feet and boasts double windows
overlooking 8th Street, which are perfect for posting real estate
listings, she said. The new location brings the firm’s total number of offices to three.
Other branches include executive offices at 641 Lexington Avenue at
55th Street and a storefront location at 1067 Park Avenue between 88th
and 87th streets. [more]