It may have been the kind of problem every tenant wishes it had, but for Wasserman Media Group it was a problem nonetheless.
Only a few months had elapsed since the firm had signed on at the start of the year to take roughly 7,000 square feet on the fourth floor of the midtown office tower 444 Madison Avenue, and already it was clear to Wasserman’s executives that they had significantly miscalculated the company’s needs.
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AIG, the enormous bailed-out insurance company, announced today that the sale of its ALICO life insurance unit to MetLife and its initial public offering of AIA on the Hong Kong stock exchange have netted billions of dollars to repay the U.S. government, which has generously and repeatedly extended a helping hand to Read More
These days, when he goes shopping, Matt Van Buren hunts for discounts. The executive managing director of CB Richard Ellis' New York brokerage, Mr. Van Buren likes price cuts of at least 35 percent.
"Say I'm buying a hammock for my backyard," he said Thursday morning on the 18th floor of the MetLife building, minutes before Read More
Three years ago this month, Stuyvesant Town was a bees’ nest of tenant activism. Rallies with bullhorns, press conferences and elected officials littered the 80-acre brick city on the East Side. The reason? MetLife was selling the longtime middle-class enclave that was Stuy Town and Peter Cooper Village, and the tenants, terrified of the pressure Read More
Goldman Sachs, in a research note, cut its rating on Prudential Financial (PRU.N: Quote, Profile, Research, Stock Buzz) to Read More
At first glance, people often assume that the weekly Town & Village comes directly from the ownership of Stuyvesant Town and Cooper Village, Tishman Speyer, or from the complex’s management, Rose Associates Inc. Both firms are owned by well-known New York real-estate clans that could easily afford a weekly rag. But then people get to Read More
Well, some good news for 1095 A of A: The MetLife deal is done. They'll take 12 floors and 410,000 square feet from landlord Equity Office Properties in the fourth quarter of 2008. The release says that MetLife will keep a "substantial ongoing presence" in super-spurned Long Island City. Whatever. It's all further evidence that Read More
Well, it's official: Stuy Town and Cooper Village is a closed deal. So much for all those reports of a snafu. Wow, that was fast - literally, one month to the October day that owner MetLife agreed to sell the apartment complexes to an investment group led by Tishman Speyer. The new owner's Read More
The worst part about Tuesday's vote on a new tax incentive agreement with MetLife, according to a watchdog group that follows corporate subsidies, may have been the fact that the vote was taken without any public notice other than a story in that morning's New York Times. Normally, the mayorally controlled Industrial Development Agency Read More
IDA: If you build it, they'd better come. The city's Industrial Development Agency (IDA) this morning approved a controversial tax-incentive package to encourage development of a snazzy New York Diamond Tower on 47th Street. While critics charged that the new building would merely "poach" existing tenants from older buildings in the city's ancient Diamond Read More
Floyd Cardoz, the chef at Tabla, has just come out with his first cookbook, One Spice, Two Spice (William Morrow). His book is subtitled American Food, Indian Flavors, and that’s what his restaurant is about, too. Tabla, which Mr. Cardoz co-owns with restaurateur Danny Meyer, introduced the public to a new cuisine when it opened Read More
For the last 60 years—even when all of New York City seemed broke—the forbidding brick towers and pretty gardens of Stuyvesant Town and Peter Cooper Village have stood as the goalposts of middle-class aspiration in Manhattan. But in a single day, in the midst of a booming market, the titans of New York real estate Read More
For the last 60 years—even when all of New York City seemed broke—the forbidding brick towers and pretty gardens of Stuyvesant Town and Peter Cooper Village have stood as the goalposts of middle-class aspiration in Manhattan.
But in a single day, in the midst of a booming market, the titans of New York real estate Read MoreWhites in Sagaponack
