Think twice before you elbow a tourist in Times Square. Rents in the wanna-be hotspot just soared 21 percent, thanks to the city’s tourism boom.
Retailers in the area are now paying upward of $1,700 a square foot annually, according to a quarterly report from the Real Estate Board of New York that came out this morning. That’s Read More
Oakley will pay what could be a record-setting retail rent for Times Square, $1,400 a square foot, for its new location at 1515 Broadway.
With prices on both sunglasses and square feet rapidly rising, Times Square may finally rival its classier retail neighbors, in fact. “It’s catching up to Fifth Read More
The Commercial Observer: Things seem to be looking up for SL Green. Just recently your stock went up.
Mr. Piccinich: You talk about the economic downturn, when we went into the single-digit range, and where we’ve climbed now—I see it as the same experience we had eight years ago, when Read More
The same year that Times Square became Times Square, the Astor Hotel opened for business. It was 1904, and The New York Times had just arrived in the neighborhood, erecting its headquarters on West 43rd Street. Like the paper of record of that day, The New York Herald, The Times wanted to paste Read More
Retailer-to-the-tweens Aeropostale is taking an adult-size bite out of Times Square.
The retailer has nearly completed a lease for one of the neighborhood’s most prominent locations: the about 17,000-square-foot storefront at 1515 Broadway, according to sources close to the negotiations. Real estate database CoStar indicates this includes some of the same space formerly occupied by the MTV Studio. Read More
On Sept. 17, The Observer‘s Dana Rubinstein reported that Viacom would re-up for a chunk of SL Green’s 1515 Broadway, where the entertainment giant has over 1 million square feet of space under lease until 2010. The Post‘s Steve Cuozzo reports this morning that the re-up will keep Viacom in that 1 Read More
Greg Hughes, chief financial officer for New York City’s largest commercial landlord, SL Green, said this morning that Viacom, which has leases for 1.5 million square feet at 1515 Broadway, most of which expire in 2010, is likely to renew.
"We’re have ongoing negotiations with Viacom for what seems like five years now," Mr. Read More