The owners of 28-46 West 23rd Street are exploring an expansion of the building amid a hot streak in the Midtown South office district that has driven down vacancy and pushed rents up, The Commercial Observer has learned.
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As expected (we noted last week this would likely happen and soon), Lehman Brothers has agreed to unload its majority stake in the old Toy Building at 200 Fifth Avenue in a deal that values it at about $700 million. It is one of the biggest building sales of 2011 so far, and one of the most significant moves by the croaked investment bank’s holding company in its campaign to liquidate its real estate. The buyer is a wing of JPMorgan. Read More
On the top floor of 200 Fifth Avenue on Thursday evening, Simone Levinson compared herself to a mafia boss.
“You know how in The Godfather III when Al Pacino says, ‘I keep trying to leave but they just suck me back in?’” she said. “I feel like that with party planning.”
The event—celebrating the Read More
It’s finally official. Tiffany & Co., the legendary jeweler whose Fifth Avenue, multi-tiered wedding cake of a flagship store regularly attracts hordes of bauble-seeking tourists and New Yorkers alike, will relocate its corporate headquarters from midtown Manhattan to the Flatiron district, according to a just-issued press release. The Observer broke the news about Tiffany’s imminent Read More
The Commercial Observer:
Mr. Levinson: They were in the market for a while, looking to develop something Read More
Human hubbub may soon be returning to 200 Fifth Avenue, the so-called Toy Building that once housed dozens of toy makers, but that, aside from four retail tenants, now stands empty.
Landlord L&L Holding Company, which just got legal permission to evict Cipriani, has had a number of prominent visitors lately, according to David Read More
