Office Market
The city just finished one of its most wintry Februaries, highlighting once again the inescapable conundrum for landlords: how to keep the power and heat on sufficiently at the best possible cost. It is a seemingly ceaseless challenge-New York already pays the second-highest electricity prices in the nation, behind only Hawaii-one met by energy firms and their clients every day with varying degrees of... READ MORE»
Citrin Cooperman & Company, the nation's 33rd-largest accounting firm, is expanding during the worst recession to hit New York since the 1930s. Talk about good marketing. Citrin has signed a lease for 75,000 square feet in Silverstein Partners' rather unexceptional-looking granite-and-dark-glass-clad 529 Fifth Avenue, 57,000 square feet of which is a renewal and 18,000 square feet of which is an expansion. Both expire in... READ MORE»
The Commercial Observer: You just celebrated the one-year anniversary of Savitt Partners. How has it been? Everything you hoped it would be? Mr. Savitt: It's been great. It really has worked out well. Things are going very well. It's been a lot of fun. And no complaints. We wish the economy was stronger, but we've fared very well, and, in fact, better than... READ MORE»
555 Fifth Avenue After outgrowing its Madison Avenue digs, communications equipment maker Harris Corporation is moving uptown, where it hopes to be nearer to its client base. The company was also seeking a "higher image" building, which it apparently found at 555 Fifth Avenue, a 19-story Emery Roth & Sons-designed... READ MORE»
100 William Street Data service providers at the New York Internet Company inked a lease right at the epicenter of Wall Street. The deal comes as the company is also expanding its footprint into Bridgewater, N.J., where a fiber redundancy will allow both facilities to run with the seamless precision of synchronized... READ MORE»
1 Hudson Square Horizon Media, a marketing firm with a mission "to create the most meaningful brand connections within the lives of people everywhere," is consolidating its three New York City offices and 400 local employees at One Hudson... READ MORE»
Publicis, the advertising firm that somehow convinced Chevy Chase to reprise his hilariously hapless Clark Griswold character during the Super Bowl, all to market a little-known house-swapping Web site called HomeAway, will consolidate its New York operations at Bill Rudin's 35-story tower at Broadway and 52nd... READ MORE»
By Bruce Mosler | February 15, 2010 | 1:26 pm
Even a quick study of the fourth-quarter statistics for the Manhattan office market reveals that there are signs of life in the office leasing market. But taking a step back to analyze the economic environment indicates that there is plenty of room for caution on the part of landlords and even, to some degree, tenants in New York. Let's begin with some of the key positives. Leasing activity in the second half of 2009 totaled... READ MORE»
By | February 9, 2010 | 10:55 am
'Renewal' year's magic word, as litigious lock-ins dominated uncertain annum for the Manhattan office... READ MORE»
414-422 West 45th Street Labor union DC 1707 is taking the struggle uptown. Currently housed at 75 Varick Street, the organization recently closed a major deal to move its headquarters to midtown, with the option to purchase the 67,706-square-foot... READ MORE»
When Queen Anne of England bestowed Trinity Church with a large land grant in 1705, the aim was to establish an Anglican foothold in the New World, not a commercial hub for New York City's creative underclass. But with 6 million square feet of property situated, lucratively, in what is now considered the Hudson Square district, Trinity's real estate arm has indeed succeeded in luring not only the WASPs from ye olde England but the... READ MORE»
By Emily Geminder | February 2, 2010 | 5:04 pm
Harlem is a place that provokes the kind of grand, sweeping proclamations usually reserved for dying social movements or God. Harlem is nowhere (Ralph Ellison); Harlem is heaven (Bill "Bojangles" Robinson); Harlem is the new black (T-shirts hawked on 125th Street). It is a physical place as much as an idea, roughly determined by the coordinates of wide, skyward boulevards and streets that, by some mnemonic trick of geography or architecture, reveal themselves in... READ MORE»
Law firm D'Amato & Lynch, forced to find new digs after its old landlord, AIG, sold its headquarters at 70 Pine Street last year, has found a new landlord: Bank of... READ MORE»
Midtown Beemer owners, or aspiring Beemer owners, have another reason-aside from their ability to afford high-end German machines-to be content with their lives. BMW has decided to keep its Manhattan flagship store at its convenient 11th Avenue spot, signing a long-term renewal at 555 West 57th Street in one of the largest deals of the past... READ MORE»
By Emily Geminder | January 25, 2010 | 5:51 pm
777 Third Avenue Avon, the door-to-door beauty product peddler, is growing. The company that began as a small perfume shop in California in the 1880s has, over the past several decades, been making an increasingly global push, namely in large-and largely untapped-markets like China and Russia. Beauty plus consumerism equals empowerment is apparently a universally accepted... READ MORE»
