The New York Observer » Commercial Observer http://www.observer.com Just another WordPress site Tue, 14 Feb 2012 18:01:15 +0000 http://backend.userland.com/rss092 en Daniel Edward Rosen and Daniel Geiger Join The Commercial Observer The Commercial Observer appointed two new staff writers today, Daniel Edward Rosen and Daniel Geiger. The Commercial Observer, a weekly publication under the umbrella of the Observer Media Group, covers New York City’s commercial real estate market, in print and online. “We’re excited to have both Dans joining us,” said Jotham Sederstrom, editor of The Read More

]]> http://www.observer.com/2011/11/daniel-edward-rosen-and-daniel-geiger-join-the-commercial-observer/ The Fight in Albany and Multi-Family Sales The multi-family apartment building market in New York City is viewed as a leading indicator of the marketplace in general. It has historically received the highest level of demand from buyers and is, without question, the sector that lenders view most favorably. This is because rent regulation keeps rents in most New York City buildings Read More

]]> http://www.observer.com/2011/commercial-observer/fight-albany-and-multi-family-sales Our Love Affair with Apartments The apartment sector has cemented a privileged position atop the commercial real estate investment hierarchy. Across a broad swatch of the nation's markets, declining vacancy rates and accelerating rent growth have converged with low-cost financing to foment a sustained rebound in investment flows and a recovery in pricing unmatched in its geographic balance. Distinguished even further Read More

]]> http://www.observer.com/2011/our-love-affair-apartments Wind Concern Rustles Two Trees The wind turbine craze isn't likely to catch on in New York City anytime soon, but the same apparently can't be said for Dumbo office space. Yet another company, Wind-Products, is abandoning Soho and moving across the bridge in search of hip office digs and perhaps a tax credit. It has leased 2,972 square feet Read More

]]> http://www.observer.com/2011/real-estate/wind-concern-rustles-two-trees The Art of a Soho Gallery Deal These Days The art scene is not dead in Soho. At least not yet.

Crown Art Gallery, noted for its collection of Picasso and Warhol prints, is opening its second store, in 2,100 square feet at 421 West Broadway. The gallery has had another location at 1609 Broadway for the last 20 years.

The tenant signed a Read More

]]> http://www.observer.com/2011/real-estate/art-soho-gallery-deal-these-days Insurance Law Firm Splits for Mack-Cali’s 125 Broad It's been lonely downtown for Sullivan & Cromwell, with nary another major law firm in sight. Finally, the stuffy concern will get some company through a deal at 125 Broad Street.

Wilson Elser Moskowitz Edelman & Dicker has signed a 17-year lease for 37,000 square feet in Mack-Cali's budding nonprofit hub, Studley's Howard Nottingham told The Observer. While Read More

]]> http://www.observer.com/2011/real-estate/wilson-elser-125-broad Juicy! 5 Napkin Burger Comes to Union Square It was only a matter of time before the high-end burger craze hit Union Square. Sorry Shake Shack, because 5 Napkin Burger is opening on the corner of 14th Street and Third Avenue.

The burger chain has opened three other New York locations since 2003. It does face some stiff compeition from Goodburger, at Broadway and Read More

]]> http://www.observer.com/2011/five-napkin-burger-comes-union-square Apartment Hunter-Gatherer Prowling From the glamorous to the quotidian, everything you need to know about New York City's apartment market is contained on StreetEasy, except this: The city's most powerful residential real estate site has begun a quest for new office space.

"We've got half a dozen places that are of real interest," chief executive Michael Smith told Read More

]]> http://www.observer.com/2011/real-estate/apartment-hunter-gatherer-prowling Making It Work! Kaufman Steers Tenants to 1407 Broadway 1407 Broadway

Heidi Klum and Tim Gunn may have strutted into 1407 Broadway last winter, but the building has proven that it's no prisoner of fashion tenants.

In late 2009, high-end TV pageant Project Runway leased 12,000 square feet in the garment district building for six weeks-even though the Lightstone Group had planned to transform the 42-story Read More

]]> http://www.observer.com/2011/commercial-observer/making-it-work-kaufman-steers-tenants-1407-broadway Wells Fargo Consolidating in 300K Feet at 120 Park 120 Park Avenue

Wells Fargo is consolidating its Manhattan offices into at least 300,000 square feet at 120 Park Avenue.

The Midwestern bank's Manhattan office space is currently spread across Tower 49, Grand Central Tower, 1211 Sixth Avenue and 40 West 57th Street. The new deal will allow the tenant to give up most of that Read More

]]> http://www.observer.com/2011/commercial-observer/wells-fargo-consolidating-300k-feet-120-park Framed! Ten-Year Window for Durst Spot 112 West 44th Street

It took only 10 minutes to frame a picture-perfect lease at 112 West 44th Street.

John Grotto, of landlord the Durst Organization, went into Art Frame Gallery and persuaded the owners to come check out his space. Minutes later the tenant was ready to sign.

"They liked the location," Mr. Grotto told The Read More

]]> http://www.observer.com/2011/commercial-observer/framed-ten-year-window-durst-spot High-End Gear Shop Wants Fab Fifth Ave. Location Fifth Avenue has long have been the summit of Manhattan retail. But high-end gear shop The North Face was initially wary of setting up on the glitzy strip. Nonetheless, the California retailer, which makes adventure apparel for the suburban set, is searching for space to open a new store on Fifth Avenue, a source said.

North Read More

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