Fashion designer Marc Jacobs is currently in negotiations with the owners of 645 Fifth Ave. to establish a new flagship store, according to sources in the real estate industry. Marc Jacobs recently closed its Madison Avenue store and plans to relocate to Fifth Avenue. However, no official lease has been signed with the landlord of …
With the city continuously adding new requirements for sidewalk sheds, Mayor Eric Adams’ “Get Sheds Down” program appears to lack effectiveness. As of September 28, landlords are now obligated to conduct yearly “parapet observations” under the newly established regulations by the Department of Buildings. According to Local Law 126, enacted in 2021, property owners are …
The most prestigious annual gala in the world of real estate is set to take place once again, and the city’s real estate elite couldn’t be more excited. The Real Estate Board of New York (REBNY) will be hosting its 128th awards event at the beautiful Glasshouse Event space on the stunning Hudson River waterfront. …
The highly anticipated discussion surrounding the duration of Madison Square Garden’s “special permit” is set to take place at the City Council’s Subcommittee on Zoning and Franchises on Monday. One might want to take cover in the face of what promises to be a heated debate. The Dolan family, proprietors of the Garden, are pushing …
Landlords in New York City aren’t the only ones frustrated with Kastle Systems’ Back-to-Work Barometer, which claims to track physical office occupancy. The President/CEO of Philadelphia’s Center City business improvement district, Paul R. Levy, expressed his anger over a recent Wall Street Journal article that labeled downtown Philly as “one of the emptiest office districts …
The Fulton Street Mall in Brooklyn has undergone a transformation with major national brands such as Nordstrom Rack, American Eagle Outfitters, Gap, Pandora, and Aldo replacing cheap fast-food and junk stores. Macy’s has successfully adapted to a reduced size, while the iconic Gage & Tollner restaurant has brought back the dining glamour of Fulton Street’s …
Famed chef Michael White, known for his innovative approach to Italian cuisine at renowned Manhattan restaurants like Marea, is making a comeback in East Midtown. White has signed a lease for a new restaurant at Tishman Speyer’s 520 Madison Avenue, signaling the area’s slow but steady revitalization. This is the sixth high-profile restaurant deal to …
Manhattan’s new-generation towers are proving their pulling power once again, while many older office properties struggle to attract tenants. Tishman Speyer’s Spiral, a 66-story skyscraper spanning 2.8 million square feet, has reached a remarkable 75% occupancy just a year after opening with the signing of three new financial-firm leases. These leases amount to a total …
The city’s blatant disregard for Mayor Eric Adams’ “Get Sheds Down” initiative is particularly frustrating when observing 520 First Avenue, which houses the Office of the Chief Medical Examiner. This six-story facility conducts numerous autopsies each week and serves as the final resting place for NYPD officers and FDNY firefighters who lost their lives in …
In a significant development for the Durst Organization’s Third Avenue portfolio, the Empire State Development Corp. will relocate its headquarters to 655 Third Ave. The recently-signed lease for 117,181 square feet may be the largest new lease in Midtown so far this year. ESDC will occupy five full floors in the 30-story, 425,000 square-foot tower. …