The Real Deal New York

Posts Tagged ‘Times Square’

  • From left: Hampshire Hotels' Eric Danziger and 560 Seventh Avenue

    From left: Hampshire Hotels’ Eric Danziger and 560 Seventh Avenue

    Soho Properties, MHP Real Estate Services and Hampshire Hotels Management are bringing a Dream Hotel to the current locale of Parsons The New School of Design. [more]

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  • Blackstone's Jonathan Gray and 229 West 43rd Street

    Blackstone’s Jonathan Gray and 229 West 43rd Street

    Blackstone Group’s Equity Office will add yet another so-called TAMI (technology, advertising, media and information) tenant to 229 West 43rd Street, The Real Deal has learned. Online advertising network Collective is taking the entire eighth floor – nearly 58,000 square feet – at the property, according to sources familiar with the deal. [more]

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  • Times Square

    Loathed by many New Yorkers first as seedy hotbed of crime and then as an over-the-top tourist attraction, newly built luxury condominiums have convinced some New Yorkers to give Times Square a chance.  [more]

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  • Times Square plaza

    WEEKENDEDITION Despite being frequently used for private events, which earn private profits, Times Square’s public plazas are generating little revenue for the city. [more]

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  • hotel-carter

    Tran Dinh Truong and 250 West 43rd Street

    The Hotel Carter in Times Square, named the dirtiest U.S. hotel by travel website TripAdvisor in 2006, is expected to hit the market this year.

    Since April, John Cruz of GF Management has been running the 615-key hotel at 250 West 43rd Street, between Seventh and Eighth avenues. The company is in the process of addressing 15 outstanding building code violations, some of which involve broken “Exit” signs, insects in the lobby and malfunctioning elevators.  [more]

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  • From left: Jeff Sutton and 1565 Broadway

    From left: Jeff Sutton and 1565 Broadway

    Radio Shack has opened in Jeff Sutton’s former Roxy Deli building in Times Square. [more]

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  • Times Square

    Times Square

    Taking advantage of confusion between city agencies tasked with manning public plazas and parks, corporate promoters are flooding areas like Times Square and pedestrian plazas along Broadway with crowds and attractions. [more]

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  • This month in real estate history

    November 18, 2013 04:30PM
    Times Square in 1953

    Times Square in 1953

    From the November issue: 1953: City tries to clean up Times Square

    The city announced its first proposal to clean up Times Square 60 years ago this month. The Department of City Planning proposed changes to zoning regulations that sought to eliminate carnival-style freak shows, flea circuses, shooting galleries and similar tawdry businesses in Times Square.

    According to the New York Times, city officials said the businesses were depressing real estate values. [more]

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  • 11-Times-Square

    11 Times Square

    Hedge fund Moore Capital Management is close to signing for 80,000 square feet at SJP Properties and Prudential’s office spec property 11 Times Square, including the penthouse office on the 40th floor and a private squash court, Crain’s reported.

    Rents at the 1.1 million-square-foot tower, located at 1251 Sixth Avenue in Times Square, are $90 per square foot and up. Newmark Grubb Knight Frank broker Neil Goldmacher is representing the would-be tenant, while Jones Lang LaSalle’s Mitch Konsker heads up a team that represents the owner. [more]

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  • The scene of the scaffolding collapse at 40th Street and Seventh Avenue (Credit: @gabrielsperber via Twitter)

    The scene of the scaffolding collapse at 40th Street and Seventh Avenue (Credit: @gabrielsperber via Twitter)

    Scaffolding that appears to be from an under-construction restaurant at a Handler Real Estate-owned building in the Times Square district collapsed around 10 a.m. today, injuring three people. [more]

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  • 1538-1548 Broadway

    1538-1548 Broadway

    The U.S. Polo Association’s flagship store has a new home in the heart of Times Square.

    The sport’s governing body selected the 1,250-square-foot space on the ground floor of Vornado Realty Trust’s 1540 Broadway for its visibility and prominence, according to Thor High Street Advisors, whose Matthew Seigel brokered the deal for the tenant. Sherry White represented Vornado in-house. [more]

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  • From left: George Kaufman and 1407 Broadway

    From left: George Kaufman and 1407 Broadway

    Tech and fashion tenants are reshaping an area bordered by Herald Square to the south and Times Square to the north. At 1407 Broadway, licensing company Galaxy Brand Holdings just nabbed 10,900 square feet in the Kaufman Organization’s 1.1 million square-foot building for the company’s first location. [more]

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  • 360-West-42nd-Street

    From left: Michael Leff, 360 West 42nd Street, Jon Epstein and Arthur Mirante

    The owner of three adjacent parcels at the corner of 42nd Street and Ninth Avenue near Times Square has put the site on the market with brokers expecting offers of about $2 million per year in triple net rent, meaning the tenant pays taxes and other expenses. [more]

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  • From left: PubMatic's Kirk McDonald and 220 West 42nd Street

    Kirk McDonald and 220 West 42nd St

    Ad-tech company PubMatic has inked a deal for 12,000 square feet of space in the Candler building at 220 West 42nd Street.

    The new space in the heart of Times Square, above a McDonald’s, comes as the Redwood City, Calif.-based firm expands its New York team to more than 60 employees from 40. [more]

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  • From left: 146 West 47th Street (center) and Kevin Salmon of Khizer Salmon

    From left: 146 West 47th Street (center) and Kevin Salmon of Khizer Salmon

    A prime bit of Times Square retail, next door to the Witkoff Group’s massive planned retail and hotel project, is in contract for $10.6 million, The Real Deal has learned. [more]

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  • Tim Tompkins and the old New York Times building

    Times Square may be experiencing a mini technology boom, with tech companies including Yahoo and Microsoft snapping up 633,000 square feet of space in the neighborhood over the last 18 months, according to data provided to The Real Deal by the Times Square Alliance, a business improvement district group. [more]

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  • Times Square

    Retail rents for Times Square are starting to give Fifth Avenue a run for its money, according to Crain’s. Rates in the tourist hub reached as much as $2,400 a square foot in the fourth quarter of last year, a 42 percent increase from 2011′s final three months. Last month, the Sunglass Hut inked a deal with Vornado Realty Trust for 1540 Broadway, between 45th and 46th streets,  at $2,025 a square foot. [more]

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  • Times Square

    Hotels in Times Square had nearly 90 percent occupancy after Hurricane Sandy made landfall, DNAinfo reported, citing Times Square Alliance data. In addition, average room rates increased to amounts more typically seen in peak travel season. In November alone, hotels in the area reached their highest occupancy rates since 2003, with average room rates ticking in at $307. [more]

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  • Times Square

    Asking rents in the bustling center of Times Square more than doubled over the last year, pulling even for the first time with the city’s most expensive district on Upper Fifth Avenue, commercial firm Cushman & Wakefield reported Tuesday. Landlords are asking an average of $2,283 per square foot in the Bowtie — where Broadway crosses Seventh Avenue — a 117 percent increase from last year, when it was $1,052 per square foot. [more]

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  • Rendering of Times Square project (Snohetta)

    For the next three years or so (assuming, as we should not, that things go according to schedule) the fabled Crossroads of the World, Times Square, will go through the usual hell on earth that is construction in Manhattan. The entire place, from 42nd street to 47th, including Broadway and Seventh Avenue, will be torn up and repaved, at a cost of $40 million, according to the vanguardist whims of Snohetta, the Norwegian architectural firm responsible for the 9/11 Museum at the World Trade Center Site. Although, I confess, it is beyond me why what looks to be essentially a repaving job should take three years, into 2015, apparently there will be certain infrastructural changes that go along with it, including the removal of trolley tracks that now lie buried under the asphalt of Times Square. Some of the changes include the introduction of energy outlets that will remove the need for those annoying generators that invariably accompany the big events that increasingly occupy the site. [more]

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