NEW YORK – The Empire State Building (ESB) officially unveiled the first phase of a new entrance last month to the Observatory at 20 West 34th Street. Part of the decade-long Empire State ReBuilding project, the new entrance provides visitors to its popular observation deck with a larger dedicated entrance which used to be shared […]
Real Estate
K Property Group Buys 446 Broadway
NEW YORK — K Property Group (“KPG”) says it has purchased 446 Broadway, a vacant five-story circa 1915 commercial building between Grand and Howard Street Building. The purchase price was not disclosed. Plans for the property include a major high-end renovation. When completed, there will be approximately 26,000 square feet of office space and 5,250 square […]
30 Hudson Yards Tops Out
NEW YORK – Related Companies and Oxford Properties Group announced that 30 Hudson Yards, the tallest building in the new Hudson Yards neighborhood, has officially topped out. The final beam was placed on the steel crown earlier this month. The 1,296 ft. tall building is made up of more than 40,000 pieces of steel weighing […]
LIC Rental Building Receives Design Award
LONG ISLAND CITY — The American Institute of Architects (AIA) Brooklyn, Queens and Bronx Chapters have named ARC, a luxury rental property in Long Island City, as the 2018 Brooklyn + Queens Design Award’s (BQDA) People’s Choice Award for Queens. ARC is a luxury rental property located at 30-02 39th Avenue in the Dutch Kills section of Long Island City, developed by real […]
Brooklyn Home Sales Drop in 2nd Quarter
BROOKLYN — Brokerage firm Stribling & Associates has released its second quarter Brooklyn Market Report. The report is the only to cover inventory, contracts and sales across the entire borough. The data revealed a yearly decline in the total number of closings, but a slight uptick in contract activity, as the number of properties listed surged to near-record levels. […]
Howard Hughes Corp. Buys 250 Water St.
NEW YORK — The Howard Hughes Corporation has purchased a one-acre property for $180 million at 250 Water Street in Lower Manhattan from Peck Slip Associates, an entity controlled by the Milstein family. The one-acre site, currently used as a parking lot, encompasses a full city block bounded by Peck Slip, Pearl Street, Water Street, and Beekman Street. The […]
Midtown Tower Sold for $332.5 Million
NEW YORK — Columbia Property Trust has sold a 25-story office tower at 222 East 41st Street in Midtown Manhattan to Commerz Real, the real assets investment manager of German Commerzbank, for a gross sales price of $332.5 million. The 390,000-square-foot Midtown East tower had been essentially fully occupied by one tenant since 2007, in […]
SL Green Acquires Leasehold in 2 Herald Square
SL Green Realty Corp. announced it was the successful bidder for the leasehold interest at 2 Herald Square, which was in foreclosure. The Company has also reached an agreement to joint venture the asset with an Israeli-based institutional investor, subsequent to closing on the acquisition. Located on a prime corner of Herald Square (the intersection […]
McGraw-Hill Leases Five Floors in Midtown
NEW YORK — Real estate investment trust Paramount Group has signed a 136,176 square foot lease with McGraw-Hill Global Education Holdings, LLC at 1325 Avenue of the Americas, a 34-story Class A office tower located between 53rd and 54th Streets in Midtown Manhattan. McGraw-Hill Education will occupy floors 5 through 9, as well as a […]
Construction Begins on Hudson Yards’ Observation Deck
NEW YORK – The massive Hudson Yards complex under construction on the West Side will have almost everything — including an observation deck. The developers of Hudson Yards — the Related Companies and Oxford Properties Group — have announced the start of construction on Hudson Yards’ Observation Deck. Standing more than 1,000 feet in the […]
SL Green Sells 1745 Broadway for $633 Million
NEW YORK — SL Green Realty Corp., New York City’s largest office landlord, together with its joint venture partner, Ivanhoe Cambridge, have entered into a contract to sell the leasehold office condominium at 1745 Broadway in Manhattan for $633 million, or $939 per square foot, to an institutional client of Invesco Real Estate. Known as […]
North Brooklyn Sees Drop in Rents
NEW YORK — With the April 2019 shutdown of the L train looming closer, North Brooklyn rents continue to decline, according to the StreetEasy Market Report for February 2018. The StreetEasy Rent Index for North Brooklyn — which includes neighborhoods served by the L train, such as Williamsburg and Greenpoint — dropped for the seventh […]