July brings more modestly optimistic news for the city’s commercial real estate industry, according to the latest report from brokerage Cassidy Turley.
Manhattan-wide vacancies are still dropping, down from May’s 13.1 percent to 12.8 in June, marking the lowest amount of empty office space since at least April of last year. Read More
Starwood Hotels, owner of the gloriously stuffy Astor-built St. Regis New York, has hired CB Richard Ellis investment broker Darcy Stacom to market its cluster of tony storefronts along Fifth Avenue at 55th Street, according to a number of industry sources.
Rumor has it that a group of investors approached Starwood out Read More
On the one hand, if a Fifth Avenue apartment couldn’t sell six years ago when it was asking $15 million, and then suffered a flood that damaged walls, ceilings, floors and furnishings, it’s slightly disconcerting that the place would hit the market again for $25 million.
But the seventh-floor condo at 817 Fifth Avenue is Read More
The global recession has not been good for architects, even deified Pritzker-winning ones: Lord Norman Foster, in Manhattan alone, has hit snags at his New York Public Library renovation, Aby Rosen’s 980 Madison tower, Lexington Avenue’s Shangri-La hotel, and ground zero’s Tower 2. But the 73-year-old British architect Read More
When Manhattan real estate was at its bleakest late last year, there were a few weeks when it genuinely seemed that the only New Yorkers buying up expensive apartments were the brood of billionaires: Sheridan Mitchell Lorenz (daughter of a Texas natural-gas billionaire), Alice R. Gottesman (daughter of a Warren Buffett pal) and Roy Judelson Read More
Yesterday, CB Richard Ellis Gene Spiegelman, executive director, Cushman & Wakefield New York said: “Through midyear 2008 Fifth Avenue consolidated its position as the world’s most expensive retail address with prime rents around $1,850 sq ft. Ground level retail rents, however, broke the $2,300 sq ft barrier with the lease to Abercrombie at Read More
Be generous to those Fifth Avenue merchants this holiday shopping season: They’ve got a helluva rent to pay. According to a new CB Richard Ellis report, Fifth Avenue remains the world’s most expensive retail destination, with rents reaching $2,200 a square foot annually, more than 75 percent higher than in Hong Kong, the second most Read More
With apartments fetching an average price of $7,500 per square foot, Fifth Avenue ranked third place in a new survey of the top 10 most expensive residential streets in the world from Barclay’s Wealth Bulletin. But if you thought top-tier residential prices in Manhattan were stratospheric, take a look at the two most Read More
The falling dollar can’t stop Fifth Avenue, so it seems.
The midtown retail strip once again tops a list of the world’s most expensive shopping strips, according to a report by brokerage Cushman & Wakefield. It beat out Hong Kong’s Causeway Bay, the Avenue des Champs Elysées in Paris, and New Bond Street in Read More
Here is a clip of Michael Bloomberg chatting with Tom Brokaw at Cooper Union last night explaining why being mayor in New York is better than being the top official in the country.
Bloomberg explained that if, say, he wanted to change the direction of traffic on Read More