Buoyed by the area’s burgeoning tech scene and growing residential market, the Flatiron/23rd Street Partnership Business Improvement District this morning presented its third annual report to a room of brokers and indicated available commercial space in the district is sparse.
With more than 200 commercial office buildings offering upwards of 22 million square feet of rentable space, Flatiron’s overall vacancy rate sits at just 6.96 percent, with only 1.55 million square feet available for lease. The average price per square foot of that space hovers just below $50 at $49.10.
Ever since the credit crisis hit and the real estate market collapsed, the news has been filled with disgraced developers–including in these very pages. Yet for every plucked chicken, there seems to be an equal number of phoenixes who, year after year, decade after decade, return from the construction graveyard to build again. (The Observer, Read More
One Madison Park has been listing for more than a year now, the 50-story tower perched over Madison Square serving as one of the most visible victims of the real estate boom on New York’s skyline. Last month, one of the building’s few buyers, Bruce Eichner, took a $40 million stake in the Read More
One Madison Park is the sort of project that, for better or worse, could only have been dreamt up during a real estate boom. The super-slender, super-tall condo tower was the work of two out-of-towners teaming up with some run-of-the-mill architects who actually turned out a pretty nice building, one that has altered the Read More
It looks like the buyer of the Olsen twins’ many-windowed Morton Square lair is none other than Continuum Company CEO Bruce Eichner. Earlier this week The Observer reported the $7.7 million sale of the rambling penthouse, the buyer shielded by the LLC, Two BB.
But now, according to HousingWatch.com, Mr. Read More
Bruce Eichner, the developer who added City Spire, 1540 Broadway and hundreds of luxury condos to the New York skyline in the ’80s and ’90s before decamping to South Beach and Vegas, where he did much of the same, struggled to sit still in his office chair on the 26th floor of a midtown skyscraper, Read More