At least ten people have been shot at the Empire State Building this morning including an as-yet-unidentified shooter according to a spokesman for the New York City Police Department. The male shooter was killed, but the NYPD says further information about the gunman or his motivations is currently “unknown.”
We’ll update this post as soon as we know more.
Citigroup says it gave Nasdaq a chance to make good on the botched Facebook IPO that cost market makers hundreds of millions of dollars. Now Citi has run out of patience, blasting the exchange in a 17-page letter to the Securities and Exchange Commission. “As set forth in detail below, the hundreds of Read More
The Neverending Story
Is there a better way to enjoy the New York City skyline than from its highest point, atop the swiftly rising 1 World Trade Center? How about with a Shackburger and shake in hand?
The Neverending Story
As of today, as you probably already know, 1 World Trade Center reached the historic height of 1,271 feet, eclipsing the Empire State Building and reclaiming its place as the tallest building in the city. In honor of that achievement, the tower will be lit up red, white and blue tonight. The Observer asked Tony Malkin, owner of the iconic tower, what he thought of being No. 2 again.
Real estate was never supposed to be a career for Gerard Schumm.
The executive vice president of RFR Realty always wanted to be a musician, a drummer to be exact. But while going to St. Francis College, he asked his father, who worked in the real estate game, to help him find a day job until the record companies came banging at his door.
The Lease Beat
Garan Incorporated, an apparel company owned by Warren Buffett, has signed a 50,000-square-foot deal to relocate from the Empire State Building to 200 Madison Avenue.
Earlier today, it was announced that Swedish construction giant Skanska had signed a 16,000-square-foot lease at 519 Eighth Avenue. Here’s how The Commercial Observer broke the news on Nov. 2 through various backchannels.
Much as we have been enjoying the work of Michael Kimmelman lately, no one stokes the critical fires like Ada Louise Huxtable. The grand dame of the business, Ms. Huxtable writes all too infrequently for The Journal—only six times a year, but not because that is all the paper will give here but instead it is all she will offer them.
Today Ada Louise offers an especially intriguing look at the Empire State Building and its resurrection, an assessment really only she could offer as few others have the same lens through which to view it, having seen both its grandeur and its decay.
Tony Malkin may have lost his biggest fight, against Vornado’s Steve Roth and the gargantuan 15 Penn Plaza, but he’s having a good week, at least, winning two persnickety court battles.
When it was announced in early 2007 that the Empire State Building would undertake an ambitious, $550 million renovation—the first of such grandeur since it was erected 76 years earlier—real estate observers stood divided on whether the effort was long overdue or, considering the looming economic crises, an unnecessarily expensive bet.
Given the 102-story tower’s 2.5 million square feet—not to mention its aging infrastructure, elevators and lobby—naysayers had reason to doubt the logic behind such a costly affair. Add to those challenges a mandate to replace the building’s jigsaw puzzle of 550 fractious users with a collection of far more prestigious, full-floor tenants and the endeavor seemed positively Sisyphean to some.