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By Matt Chaban 8/30/11 12:11pm

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Hyper Hyatt. (Extell)

SLCE and Dice: Extell Dumps Design at New Times Square Hyatt Hotel

The Observer has been a big fan of developer Gary Barnett for a while now, not only because he is the most prolific builder in the city at the moment, but he is also doing it with marquee architects, such as Christian de Portzamparc (Riverside South, One57), SOM (the International Gem Tower), FXFowle (the Lucida) and Lucian LeGrange (535 West End Avenue). Now, Extell has announced it is moving forward with a new hotel in Times Square, and the designs are, well, about what you would expect for the area, and that is too bad. Read More

By Tom Acitelli 8/24/11 8:56am

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1552 Broadway.

Sutton’s Place: Finding the King of New York Retail

If you’ve ever gone shopping in New York City, you’ve likely been an unwitting guest of Jeff Sutton. He is a discreet host, but an expansive one.

Among other properties, he controls: the 33,000-square-foot American Eagle at the corner of Broadway and Houston Street; the 40,000-square-foot Armani flagship in 717 Fifth, soon to house an 18,400-square-foot Dolce & Gabbana; the 20,000-square-foot Abercrombie & Fitch store up the street at 720 Fifth; the 46,000-square-foot American Girl Place down the street at 609 Fifth; 1551 Broadway in Times Square, which includes the four-floor American Eagle Outfitters flagship; the Aeropostale lease at 1515 Broadway; 141 Fifth in the Flatiron, where Cole Haan supplanted a Bath & Body Works; the Polo Ralph Lauren space at 379 West Broadway in Soho; several spots in and around Herald Square, including the Foot Locker House of Hoops, Aeropostale, Aldo, Geox, American Eagle and Esprit; and 747 Madison Avenue, the location of the Valentino flagship. Just last week, he teamed with SL Green, the city’s biggest commercial landlord, on the $136 million purchase of 1552 Broadway, which contains the Times Square TGI Friday’s.

That is just a sampling. Read More

By Matt Chaban 8/17/11 1:01pm

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A remorseful Roth. (Getty)

Vornado’s Steve Roth ‘Still Remorseful’ About Losing Equity Office to Blackstone’s Jon Gray

Jonathan Gray, Blackstone’s wizard of real estate, has spent billions buying up distressed assets during the downturn, including his brand-new bid for some of Bank of America’s buildings. Still, the deal that has defined his career so far has to be Blackstone’s purchase of Sam Zell’s Equity Office Properties. Not only was the 2007 acquisition of 563 office properties the largest leveraged buyout of all time, at $39 billion, but it also pit Mr. Gray against one of the shrewdest men in real estate, Vornado’s Steve Roth. The bullish Mr. Roth is still stinging from the loss. Read More

By Matt Chaban 8/15/11 11:27am

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Mark Holliday, SL Green CEO and knight in shining armor.

SL Green, Joe Moinian’s BFF

Joseph Moinian’s kingdom was assembled in a flurry of activity over the past decade, like a conquering warlord besieging New York City, overtaking some of the most valuable commercial properties. But like Alexander the Great or Napoleon Bonaparte, he overextended the empire, imperiling much of it when the recession hit. Yet thanks to an unlikely savior in SL Green, Mr. Moinian has managed to hold on to many of his most prized possessions, Read More

By Matt Chaban 8/01/11 12:40pm

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Riverside South & One57. Which can we expect for Broadway? (Extell)

Explosive Extell Demoing West 57th Tire Tower

Gary Barnett continues to bulldoze his way across the city. Just last week, his Extell Development unveiled plans for a new tower at Riverside South; found a partner for a stalled 50-story hotel near Times Square; and secured $700 million in financing from Abu Dhabi toward One57, the condo-hotel tower on West 57th Street that will be the tallest, and likely most expensive, when it is completed. As if that were not enough, the developer has begun work just down the block on another of its long-simmering projects. Read More

By Matt Chaban 7/26/11 10:16am

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I won't blink. I can't! (Getty)

Joseph Moinian’s Mystery on 54th Street

The city has been eagerly awaiting the construction of Boston Properties’ new office tower at 55th Street and Eighth Avenue, an on-again-off-again project by SOM that will likely be the first new office tower of the real estate rebound. (The World Trade Center does not count, but what about Extell’s Diamond Tower?) Having secured a big MoFo as a tenant in March, Mort Zuckerman is ready to build, and The Post‘s Steve Cuozzo reports building permits were just approved for 250 West 55th Street, “paving the way for full-bore work.”  But the more exciting news at the corner could be Joe Moinian’s gambit across the street. Read More