The Real Deal New York

Posts Tagged ‘vornado realty trust’

  • Chera-452-11-Lundgren

    From left: Stanley Chera, 452 Fulton Street, 11 Hoyt Street, Terry Lundgren (Headshot photo by Shutterstock)

    “All that volume of space and property in the Borough of Brooklyn, County of Kings, City and State of New York, which lies between the horizontal planes, the elevations of which are 24.96 feet and 43.87 feet…”

    So begins the description of an unusual, quietly-held and — insiders say — extremely valuable stake the Chera family’s Crown Acquisitions owns in the Macy’s garage at 11 Hoyt Street, between Fulton and Livingston streets. The parking facility sits across Hoyt from the Macy’s flagship Brooklyn department store at 422 Fulton Street. [more]

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  • From left: 1740 Broadway, Vornado CEO Steven Roth, Darcy Stacom and Bill Shanahan

    From left: 1740 Broadway, Vornado CEO Steven Roth, Darcy Stacom and Bill Shanahan

    Vornado Realty Trust is putting the full-block office tower at 1740 Broadway up for sale. [more]

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  • Yodle CEO Court Cunningham and 330 West 34th Street

    Yodle CEO Court Cunningham and 330 West 34th Street

    Yodle, a Manhattan-based advertising engine for small businesses, is establishing its new headquarters at Vornado Realty Trust’s 330 West 34th Street, The Real Deal has learned. Ahead of an initial public offering expected to raise about $75 million, Yodle is taking just under 85,000 square feet at the 18-story, 688,881-square-foot building. [more]

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  • Chera-651-697-Roth

    From left: Stanley Chera, 651 Fifth Avenue, St. Regis at 2 East 55th Street, 697 Fifth Avenue and Steven Roth

    When Vornado Realty Trust and Crown Acquisitions, two of New York’s savviest retail investors, announced that they would pay a record price per square foot for a condominium along Fifth Avenue, it sounded like the epitome of the store-space wildcatting driven by deal-hungry buyers quickly becoming part of the industry’s narrative. [more]

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  • St. Regis retail space and Stanley Chera

    St. Regis retail space and Stanley Chera

    Vornado Realty Trust and partner Crown Acquisitions put up $700 million to purchase the retail condo at the St. Regis Hotel in the heart of the city’s most coveted retail corridor. [more]

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  • 100 West 33rd Street

    100 West 33rd Street

    A year after Rocket Fuel committed to a 50,000-square-foot spread in Vornado Realty Trust’s 100 West 33rd Street, the advertising technology company is nearly doubling the size of its space.

    The California-based company, which quadrupled its national footprint over the past year, signed a 10-year lease for 90,000 square feet in the Midtown building. There, it will join the ranks of advertising behemoth Interpublic Group, which signed a lease in 2012. [more]

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  • Preuss-Gallucci-9277-Heicklen

    From left: Stephen Preuss, Mark Gallucci, 92-77 Queens Boulevard and Robert Heicklen

    A new two-story retail building set to replace a shuttered strip club in Rego Park — in the shadow of Vornado Realty Trust’s four-year-old regional mega-mall — is testing how much retailers will pay for neighborhood street stores on Queens Boulevard. [more]

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  • From left: Port Authority Bus Terminal, Hudson News

    From left: Port Authority Bus Terminal, Hudson News

    Before Hudson Group Retail can renew its $21.3 million, 11.5-year leases for its 17 spaces insie the Port Authority Bus Terminal, it must come to terms with a newly-introduced living wage provision. [more]

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  • chera-450

    Stanley Chera and 450 Park Avenue (Photo credit: Honest Buildings)

    UPDATED, 1:14 p.m., May 21The Chera family’s Crown Acquisitions, along with the large Canadian investment firm Oxford Properties Group, are just days from closing the acquisition of the 33-story skyscraper located at 450 Park Avenue designed by Emery Roth & Sons.

    The purchase price, $545 million, puts almost half the value of the tower in the retail base, insiders told The Real Deal. [more]

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  • 220-cps

    220 Central Park South and Steven Roth

    Vornado Realty Trust is in negotiations with sovereign-wealth fund the Qatar Investment Authority to line up hundreds of millions of dollars in financing for the 950-foot condominium skyscraper planned for 220 Central Park South.

    The real estate investment trust has spent roughly $510 million on the project since acquiring it in 2005. If the Qatar Investment Authority provides extra funds, Vornado would not need to spend more of its own. The tower will stand 65 stories, hold 100 units in total and is slated for a 2016 completion. [more]

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  • Rizzoli Bookstore at 31 West 57th Street

    Rizzoli Bookstore at 31 West 57th Street

    Call it a new chapter. Plans to fully demolish the Rizzoli Bookstore, which shuttered in April despite last-minute preservation efforts, and an adjacent building were filed and approved on Wednesday, according to Department of Buildings records. [more]

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  • neuman

    1290 Sixth Avenue and Neuberger CEO George Walker

    Asset management firm Neuberger Berman signed a 20-year lease at Vornado Realty Trust’s 1290 Sixth Avenue, with plans to move its global headquarters by late 2016.

    The firm plans to take 355,000 square feet at the building, located between 51st and 52nd streets. For 22 years, Fisher Brothers’ 605 Third Avenue near 39th Street has served as Neuberger Berman’s base. But its lease for the 272,000-square-foot space was set to expire in 2017, and the firm sought to make other arrangements. [more]

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  • From left: Jeff Olson and Steve Roth

    From left: Jeff Olson and Steve Roth

    The speculation is over. Vornado Realty Trust will spin off its 85 shopping centers into a publicly-traded real estate investment trust. The move is in line with Vornado CEO Steven Roth’s pledge to focus the company’s efforts on core assets in New York City and Washington, D.C. [more]

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  • Rizzoli Bookstore at 31 West 57th Street

    Rizzoli Bookstore at 31 West 57th Street

    The Landmarks Preservation Commission is weighing an application to preserve the interior of the Rizzoli Bookstore, just days before the retailer plans to shut down. [more]

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  • Rizzoli Bookstore at 31 West 57th Street

    Rizzoli Bookstore at 31 West 57th Street

    WEEKENDEDITION Those hoping to save the much loved and elegant Rizzoli Bookstore remain positive despite being denied landmark status. [more]

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  • From left: 31 West 57th Street, inside Rizzoli Bookstore

    From left: 31 West 57th Street, inside Rizzoli Bookstore

    Bookstore owners are increasingly turning the page and leaving Manhattan amid soaring rents.

    Sarah McNally, owner of McNally Jackson at 52 Prince Street, sought to open a second outpost on the Upper West Side. But she said she was deterred by $40,000-plus monthly rents for tiny spaces. [more]

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  • From left: Rendering of 220 Central Park South and the site now

    From left: Rendering of 220 Central Park South and the site now

    Vornado’s sky-high tower at 220 Central Park South, originally slated to hit a height of 920 feet, will actually reach 1,031 feet tall. [more]

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  • From left: Vornado's Steven Roth and Rego Park Shopping Center in Queens

    From left: Vornado’s Steven Roth and Rego Park Shopping Center in Queens

    Vornado Realty Trust is reportedly mulling a spinoff of the company’s suburban shopping centers into a separate company. [more]

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  • Renderings of 220 Central Park South

    Renderings of 220 Central Park South

    In what will likely be one of the largest loans issued in Manhattan this year, The Bank of China was identified in city records as the company financing Vornado Realty Trust’s long-delayed luxury condominium at 220 Central Park South.  [more]

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  • broadway-mall

    Broadway Mall in Hicksville and Peter Fair

    Vornado Realty Trust sold Broadway Mall on Long Island to an investor group that included private equity bigwig KKR for $94 million.

    KKR’s partners were Clifton Realty and Continuum Partners’ Peter Fair and Pacific Retail Capital Partners. Broker Andrew Merin of Cushman and Wakefield represented Vornado in the deal. The 1.1 million-square-foot mall at 358 North Broadway in Hicksville was last renovated in 1991. Tenants include Macy’s, Ikea and Target. [more]

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