NYC real estate in brief

TRD New York /
Jan.January 28, 2009 02:46 PM

Perry Ellis joins other retailers at 530 Seventh Avenue
designer Perry Ellis recently took 21,000 square feet of space at 530
Seventh Avenue, at 39th Street, for showrooms and offices. The company
is relocating to the building from 1411 Broadway, between 39th and 40th
streets. Perry Ellis is subleasing the space from designer Eileen
Fisher. The building, owned by the Savitt Partners, has several other
fashion designer tenants, including Max Mara, Danskin and Kenneth Cole.

Knakal says sales volume could reach all-time low

According to
Robert Knakal, chairman of Massey Knakal Realty Services, the sales volume of
investment properties in the city in the under $100 million market is
approaching an all-time low. The 2008 turnover
rate was 1.8 percent of the total stock of buildings, and Knakal
predicts the rate will drop to 1.6 percent or lower this year. The number of properties sold dropped 40 percent between 2007
and 2008, according to the most recent data available.
For the over $100 million market, Knakal said the turnover between 2007 and 2008 was down between 70 and 85 percent.

Coney design images to be diplayed at Municipal Arts Society
Municipal Arts Society will feature an exhibit on Coney Island at its
Urban Center Galleries, at 475 Madison Avenue, at 51st Street, between
February 4 and March 11. The exhibit will feature 350 design ideas for
Coney Island submitted by the public. In addition to the exhibit, the
museum will hold two public programs called “A serious business: the future of amusements in an urbaneconomy” and “Imagining Coney: bold ideas, technicolor dreams, and fanciful concepts.”

Brokers may win weekend getaway at Miraval open house

A weekend for two at the Miraval Resort in Tucson, Ariz. will be raffled off as a prize to brokers who
attend an all-day open house on February 3 at 515 East 72nd Street/Miraval Living, between York Avenue and the FDR Drive. C&K
Properties and Zamir Equities’ condo conversion is available for immediate
occupancy. Corcoran Sunshine Marketing Group is the exclusive sales
and marketing agent on the project,
the third company brought on for the job. Sales started in 2006. TRD
Note: Correction appended.

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