237 Park Avenue NY

NY Presbyterian checks in at RXR’s 237 Park Hospital system finalizes lease fo爱上海同城手机版 新爱上海同城对对碰论坛r 500K sf

237 Park Avenue in Midtown

The administrative staff will see you now! New York-Presbyterian Hospital has finalized a lease to take 500,000 square feet at RXR R爱上海同城论坛 爱上海同城ealty’s 237 Park Avenue.

The length of the上海同城对对碰交友社区 上海夜网论坛 lease and the asking rent for the space at the 1.2 million-square-foot office building were not immediately clear, according to Crain’s, which reported the deal.

The hospital system, the largest in New York City, has been searching for a new administrative headquarters where it can consolidate non-medical offices spread across various buildings into one location, as The Real Deal originally reported.

New York-Presbyterian zeroed in on buil上海千花网论坛 上海千花网dings including Brookfield Office Properties One New York Plaza and Fosun Realty’s 28 Liberty, but ultimately decided to go with RXR’s 21-story building, which will be fully occupied when the hospital moves in.

RXR bought the property in 2013 for $800 million, then laid out millions of dollars in capital improvements in order to attract tenants. Current tenants include banks UBS, Credit Suisse and advertising firm J. Walter Thompson.

The hospital is the second significant medical tenant in recent months to move near Grand Central Terminal. The NYU Langone Medical Center inked a 390,000-square-foot lease at Columbia Property Trust’s 222 East 41st Street in April. [Crain’s] – Rich Bockmann

Tags: 237 park avenue, new york presbyterian, RXR Realty
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Manhattan Office Leases

These were the top 10 office leases in June Two DoBro contracts among largest spaces rented citywide

Rendering of the Brooklyn Brewery at 77 Flushing Avenue in the Brooklyn Navy Yard (credit: Davis Brody Bond)

A Brooklyn lease for the headquarters of the New York City Fire Department topped the list of the largest commercial deals inked in New York City during June, according to data from The Real Deal and CoStar.

The FDNY renewed its 339,993-square-foot lease in Downtown Brooklyn at Forest City Ratner s  9 Metrotech Center, which was about 200,000 square feet bigger than any other lease signed in June. The department moved its headquarters to the building in 1996.

It wasn t the only deal in Downtown Brooklyn to land in the list of top 10 commercial leases signed in June. The Brooklyn Brewery grabbed 75,000 square feet for its new headquarters at 77 Flushing Avenue in the Brooklyn Navy Yard. Doors are expected to open in 2018.

The June ranking includes a total of 1.12 million square feet, with the majority of leases signed in Midtown Manhattan.

Brokerage CBRE reigned supreme for both tenant and landlord representations during the month, with 上海千花社区 上海千花网交友a hand in almost half the deals on June’s list. On the tenant side, the firm negotiated 402,000 square feet of space between four clients: Alston Bird, Merrill Lynch, Gilt Groupe, and Bleacher Report. JLL placed second on the tenant side, with a combined 185,172 square feet of negotiated space for tenants QBE North America and New York Life Insurance Company.

AddressNeighborhoodSquare FootageTenantTenant brokerage, brokerLandlordLandlord brokerage, broker
9 Metrotech Center (Brooklyn)Downtown Brooklyn 339,993New York City Fire Department n/aForest City Enterprisesn/a
90 Park AvenueGrand Central 122,525Alston Bird CBRE Vornado Realty Trust Vornado Realty Trust, Josh Glick
75 Rockefeller PlazaPlaza District 122,418Merrill Lynch CBRE, Robert Alexander, Ramneek Rikhy, Emily Jones, Ryan Alexander RXR Realty Cushman Wakefield, Bruce Mosler, Tara Stacom, Mikael Nahmias
55 Water StreetFinancial District 97,228QBE North America JLL Retirement Systems of AlabamaCushman Wakefield, Frank Cento
420 Lexington AvenueGrand Central 87,944New York Life Insurance Company JLL, Matthew Astrachan, Paul Glickman SL Green RealtySL Green Realty, David Kaufma
77 Flushing Avenue (Brooklyn)Downtown Brooklyn/Navy Yard 75,000Brooklyn Brewery Brooklyn Navy Yard Development, Annie Meyding, Sukanya PaciorekCity of New York n/a
1633 Broadway Midtown West58,656Bleacher Report CBRE Paramount Group CBRE, Patrice Meagher, Robert Hill, Paul Amrich, Howard Fiddle
5 Bryant ParkGarment Dristrict54,782Movable Inkn/aEquity Office Properties Newmark Grubb Knight Frank, Brent Ozarowski, Joshua Gosin, Lance Korman, Brent Ozarowski
315 Hudson StreetLower Manhattan54,590GalvanizeJack Resnick Sons, Brett Greenberg, Dennis BradyJack Resnick Sons Newmark Grubb Knight Frank, David Falk, Peter Shimkin, Daniel Levine, Jason Greenstein
Source: Leases signed be[……]

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Uniqlo NYC Store

Uniqlo in talks for 100K sf store at 23 Wall Jack Terzi in contract to pay about $140M for vacant landmarked building

23 Wall Street, Jack Terzi and inside of a Uniqlo store (Credit: Uniqlo)

Uniqlo is in talks to lease about 100,000 square feet at 23 Wall Street, the vacant six-story Financial District retail building that Jack Terzi’s JTRE Holdings is in contract to buy, sources told The上海夜网论坛 上海夜网 Real Deal.

The popular Japanese retail chain is the frontrunner among three prospective tenants to lease the space, sources said. The five-floor space would serve as Uniqlo’s sole Financial District store, less than three miles south of the New York City flagship at 546 Broadway in Soho.

Uniqlo is said to be negotiating for a 15-year lease. If it were to take 100,000 square feet, only 60,000 square feet of vacant space would remain in the building.

The retailer opened its first location in the city in 2006, at 546 Broadway, where it occupies 52,500 square feet across three floors. Its other locations include 31 West 34th Street and 666 Fifth Avenue.

Average ground-floor retail rents in that stretch of the Financial District average $369 per square foot, according to the Real Estate Board of New York s fall retail report.

Terzi entered contract in August to acquire the building from Chinese oil company China Sonangol, which had bought the property from Africa Israel for $150 million in 2008. Sources said the price is around $140 million.

Terzi could not be immediately reached for comment.

The building, constructed in 1914 as the headquarters of JPMorgan, sat empty for years after Sonangol acquired it, apparently with little interest in finding a tenant.

The success of the retail ther爱上海 爱上海同城手机版e, however, long seemed tied to the fortunes of Wall Street firms. While retailers like Apple and Brooks Brothers eyed the space, commercial brokers speculated that it could be best used for entertainment purposes.

In early 2015, restaurant company Latitude 360 floated the idea of transforming the space into an entertainment destination such as a themed Cheesecake Factory or P.F. Chang’s with elements of an arc新上海贵族宝贝论坛 上海贵族宝贝交流区ade, bar and performance stage.

The plan fell apart, though, and the fate of the building went into further doubt when Sonangol investment head Sa爱上海 爱上海同城手机版m Pa was arrested in late 2015 by China’s Communist Party amid a corruption probe.

Tags: 23 wall street, jack terzi real estate, uniqlo
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In the hyper

It s easy to party naked, you just take off your clothes and Okay, it s not that easy to party naked in the States and stay out of jail. Bu新上海贵族宝贝论坛 上海贵族宝贝交流区t elsewhere that s changing! A slew of resorts targeting the rich are adopting a clothing optional, sex-positive policy.

On the outskirts of Cancún, the resorts Desire Pearl, Desire Riviera Maya, and Temptation promise luxury nudity. Why is this nudity so luxury, you ask? For one, long-haired freaky people need not apply, and their rates make sure of that with rooms costing  $700 to $1,500 in season.

These resorts advertise an  “erotic,” “sensual,” “open-minded atmosphere,” and the lure for horny rich people seems to be working, according to GQ.

Enterprising hoteliers seem to have made the shrewd observation that they can charge extra for delivering the one thing that nudists and swingers want most: other naked people, GQ notes, p上海贵族宝贝 上海千花网龙凤论坛ointing to sexy, naked play pins in Playa del Carmen, Panama, Curaçao, Costa Rica, the Dominican Republic, St. Martin, and Antigua.

These resorts also attempt to mirror the sophistication their cliental are used to in their day-to-day lives. For instance, dinning is still a formal affair.

Nudity—encouraged in plenty of places—isn t allowed in any of [Desire Pearl s] five restaurants, where the attire can sometimes get pretty formal. The rigidity with which this guideline is observed can seem ironic. One day I watched as a woman was reprimanded for being topless at the buffet while, out the window, another lady was being railed from behind by a爱上海同城论坛 爱上海同城 guy she d just met in the hot tub.

That seemingly strange fussiness plays the important role of creating a luxury atmosphere, GQ notes.

It g爱上海 爱上海WIFIoes a long way toward distinguishing Desire Pearl from the kind of low-rent swing上海同城对对碰交友社区 上海夜网论坛er fuck pads that exist back in the States. [GQ]

Tags: Lifestyle
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Vorea Holdings

Vorea Holdings buying LIC dev site Company 上海夜网 阿爱上海同城plans to turn one-story warehouse into residential rental building

45-57 Davis Street (Credit: Preuss Group)

Vorea Holdings will spend $21 million to buy a development site in Queens and turn it into a residential building, a上海贵族宝贝交流区 上海贵族宝贝论坛ccording to a source familiar with the deal.

The Long Island City site at 45-57 Da上海千花网论坛 上海千花网vis Street spans 108,000 square feet and is currently occupied by a one-story warehouse housing a family-run woodworking company, according to Cushman Wakefield s Stephen Preuss, who brokered the deal.爱上海同城论坛 爱上海同城 The family is relocating their business to Long Island, and Preuss said he expects the building to be demolished and shovels to be in the ground by the end of next ye爱上海 爱上海同城手机版ar.

It is unclear how many residential units will be in the building, but Preuss estimated it would be around 150.

The Vorea Group has several other properties in Queens, including ones on 41st Street in Astoria and 44th Avenue in Long Island City.

Their latest project will be right next to the controversial 5Pointz project, where developer Jerry Wolkoff is planning 41- and 47-story towers with about 1,000 apartments.

Tags: Development, long island city
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Brooklyn Investment Sales

Office deals in Brooklyn rise, while multifamily sees fewer prop上海千花网论坛 上海千花网erty trades   Total investment sales in the borough dropped 19 percent in 2017

While multifamily and land sales in Brooklyn fell last year, office invest上海贵族宝贝论坛 上海贵族宝贝ment quintupled.

Office deals in the borough totaled $757 million in 2017, up 553 percent from 2016, according to a recent report from Ariel Property Advisors. The t爱上海同城 爱上海wo deals that drove that volume were CIM Group’s $171 million buy of SL Green Realty’s 16 Court Square, and RFR Realty and Kushner Companies’ $408 million acquisition of a stake in the Dumbo Heights office portfolio.

On the whole, the office sector — which accounted for 12 percent of Brooklyn investment dollars — was not enough to tip the scales for the borough. The dollar volume of deals was down 19 percent from the previous year, totaling $6.37 billion. With 1,111 deals, the average trade was $5.7 million, down from $5.9 million in 2016.

Meanwhile, multifamily sales amounted to $2.72 billion, a 35 percent decline from the previous year and 40 percent dip from 2015. Dollar volume for development and industrial sites fell 30 percent to $2.18 billion.

Pricing for those two asset classes also slipped for the first time since 2012. Land prices decr上海夜网 阿爱上海同城eased to $248 per buildable square foot from $262, a return to 2015 levels, and price per multifamily unit slipped to $316,000 from $326,000. However, the price per square foot in multifamily deals rose to $388 from $376.

On the positive, special purpose deals saw gains thanks to increased investment from the medical and education sectors. And two areas of uncertainty for investors were resolved in 2017: the reinstatement of the 421a subsidy and tax reform, which could be a boon for commerci上海夜网论坛 上海夜网al real estate buyers.

Tags: ariel property advisors, brooklyn, Commercial Real Estate
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Ken Himmel

The Related Urban CEO is feverishly curating a retail smorgasbord at the firm’s legacy-defining project, but this time there’s no “doughnut hole”

Ken Himmel in the Time Warner Center (Photo by Sasha Maslov)

Ken Himmel was sitting in his Boston office after lunch one quiet afternoon in the mid-1990s when the phone rang. It was his old friend Stephen Ross.

“How quickly can you get to New York City?” asked Ross, the president and founder of the Related Companies. “Can you come for dinner? I have something I want to talk to you about.”

Himmel, an affable, snowy-haired mixed-use guru — with a résumé that already included the development of some of the nation’s most successful vertical shopping malls — was intrigued. Himmel had known Ross since the 1970s, when the two were newbies in the business. He knew Ross well enough to know that it would be worth the quick shuttle flight.

WATCH: Can Related apply its
Time Warner Center touch to Hudson Yards?

That night, over dinner and drinks at the Post House, an Upper East Side steak bistro, Ross made his pitch. He was planning to bid on what was arguably the most important New York City real estate project in a爱上海龙凤419桑拿 上海龙凤论坛sh1f generation — the redevelopment of Columbus Circle. Would Himmel help him?

The two began strategizing on the project the next morning. And the rest, as they say, is history.

There were many watershed moments in the life of what is now known as the Time Warner Center, the 2.8 million-square-foot complex that transformed Columbus Circle — and set the stage for Related’s current megadevelopment at Hudson Yards. But the arrival of Himmel, now president and CEO of Related Urban, was one of the most consequential.

At Hudson Yards, Himmel is spearheading the hotel-and-retail ground game and collaborating on the overall real estate mix that’s already transforming 28 acres of former railyards into a mini-city. Retail is, not surprisingly, a huge piece of the puzzle — despite the ongoing national retail “apocalypse” resulting from today’s buy-it-on-Amazon mentality.

The number of retailers who declared bankruptcy in 2017 reportedly hit a six-year high, and malls have taken an especially big hit. New York retail has not been exempt from this disruption. In 2017, asking rents across 16 retail corridors in the city declined by 18 percent year over year, according to CBRE.

Against this backdrop, Related and its partners — Oxford Properties Group and Mitsui Fudosan America — are forging ahead at full force. In September, they closed on $3.8 billion in financing for 50 Hudson Yards, bringing the total equity and debt raised for the $25 billion project’s first seven buildings to roughly $18 billion.

So the stakes for making it all work are stratospherically high.

Hello, hospitality

A native of Swampscott, Massachusetts, Himmel caught the hospitality “bug” early, working at a local country club as a teenager and at a five-star-resort at Colonial Williamsburg in Virginia while attending the College of William Mary nearby.

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Realogy

Realogy launching rapid all-cash offers Company to compete with likes of Zillow, Opendoor on “iBuyer” services

Realogy CEO Ryan Schneider with a home on piles of cash (C上海千花网龙凤论坛 上海千花社区redit: iStock)

Realogy is getting into the business of all-cash offers for sellers who want to shed their properties quickly, putting it in direct competition with Zillow s Instant Offers and venture-backed Opendoor.

The real estate holding company announced that one of its subsidiaries, NRT, will launch an all-cash program for its Coldwell Banker branded companies, in Atlanta and阿爱上海同城 阿拉爱上海同城 Dallas starting next month, Inman reported. NRT will start offering the program in Tampa later this year, and Realogy could eventually expand the program to its o上海贵族宝贝 上海千花网龙凤论坛ther brands, which include Sotheby’s International Realty, Century 21, Corcoran Group and Better Homes and Gardens Real Estate.

Realogy s cataLIST Cash Offer program is funded by Home Partners of America, which is backed by firms such as BlackRock and KKR. After the seller provides basic information about a property, cataLIST will come back with a cash offer usually within one business day. The seller has five days to consider the offer.

In the case of an accepted offer, cataLIST will charge a convenience fee.

Coldwell joins other so-called iBuyer companies, l阿拉爱上海同城 爱上海龙凤419桑拿ike OpenDoor and Zillow s Instant Offers program, which provide similar all-cash offers. Coldwell agents will be actively involved in the process, a spokesperson for Home Partners of America told Inman.

“With many other cash-offer models, consumers lose that value and expert opinion that a real estate agent brings to the table,” the spokesperson said. “We see ourselves 爱上海同城手机版 新爱上海同城对对碰论坛as different from those typical iBuyer models.” [Inman] — Kathryn Brenzel

Tags: All-Cash Buys, realogy, Residential Real Estate
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Bel Air

New Bel Air spec mansion spanning 25K sf listed for $88M Ardie Tavangarian also built home Peter Morton sold for $110M

Builder Ardie Tavangarian listed a new mega-mansion for $88 million. (Credit: Hilton Hyland)

The siege of spec mansions listing for more than $50 million in Bel Air shows no sign of abating.

The latest edifice of extravagance belongs to prolific builder Ardie Tavangarian, who listed a new mega-mansion for $88 milli上海千花网 爱上海同城对对碰on, the Wall Street Journal reported. The eight-bedroom house has about 25,000 square feet of space, with an additional 20,000 square feet of outdoor decks, patios and gardens.

The home includes a movie theatre, art studio, a game room, a state-of-the-art car elevator, and a spa with a sauna, steam room and massage room. A two-story covered deck at the back was designed to look like a picture frame to view the skyline, with the bottom of the frame including a 40-foot fire pit. The property also includes a guest house beneath an outdoor swimming pool.

Builder Ardie Ta上海夜网论坛 上海夜网vangarian listed a new mega-mansion for $上海千花网论坛 上海千花网88 million. (Credit: Hilton Hyland)

Tavangarian is founder of Los Angeles-based Arya Group, which has built some of the most expensive properties in the city. He told the Journal that he first wanted to build the home for himself after buying the site for $11.1 million in 2014. But he built it too large for his family, and decided to sell.

Branden Williams, Jeff Hyland and Judy Feder of Hilton Hyland have the listing.

Sellers of sp上海贵族宝贝 上海千花网龙凤论坛ec mansions in Southern California have a habit of over-pricing by as much as 50 percent, only to slash prices later, some brokerage managers say.

Builder Ardie Tavangarian listed a new mega-mansion for $88 million. (Credit: Hilton Hyland)

Tavangarian’s projects include a Richard Meier-designed home in Malibu that sold for a record $110 million earlier this year. The seller was Hard Rock Cafe co-founder Peter Morton.

Bel Air is among the prici阿拉爱上海同城 爱上海龙凤419桑拿est neighborhoods in the country in terms of land value. [WSJ] – Gregory Cornfield

Correction: Due to an error in the source article, this report incorrectly stated that Peter Morton bought the $110 million house in Malibu. He actually sold it.

Tags: Bel Air, LA Spec Homes, Re
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Yonkers landlord arrested for violations as city cracks down on ‘deadbeat owners’

Yonkers landlord arrested for violations as city cracks down on ‘deadbeat owners’

A landlord in Yonkers who racked up dozens of violations over the past eight years has been arrested, LoHud reported. Aurelio Assuncao,爱上海同城 爱上海 who owns five properties on Riverview Place and Beech Street, has received more than 70 summonses for fire and housing code-related violations, including “his pr上海千花社区 上海千花网交友operties having illegal apartments, no second means of egress and non-working or non-existent smoke and carbon monoxide alarms,” the outlet reported. Assuncao ignored bench warran新上海贵族宝贝论坛 上海贵族宝贝交流区ts related to the violations for years, and was finally arrested on Jan. 18. In a statement, Yonkers Mayor Mike Spano said the landlord “leads the list of top property owner violators.” He added that the action t爱上海同城论坛 爱上海同城aken against Assuncao “is just one example of how Yonkers is cracking down on the deadbeat owners who think they are above the law.” [LoHud]

Tags: Westchester Fairfield
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