Fashion Week Observed
Next week, the case against a real estate company which is in negotiations to bring a Crunch Gym to a Tribeca residential condominium heads to court, and the decision could make or break a gym lease at 140 Franklin Street.
On Wednesday, March 12, the court will conduct a hearing to determine whether to grant the 140 Franklin Street condominium board’s application to prevent Lily Realty from signing a lease with Crunch, pending the trial. There is currently a temporary restraining order in place prohibiting Lily Realty from executing any lease with Crunch. That order expires upon the court’s decision, which will be issued following next Wednesday’s hearing.
Red Carpet Real Estate
When Alex Drexler, son of retail macher Millard “Mickey” Drexler, launched his new clothing venture last month, he wasn’t the first entrepreneur to start a line with his father’s blessing.
Under Mr. Drexler, J. Crew has become an incubator for fashion self-starters.
Chris Benz got his start at J. Crew, and now his colorful, exuberant designs (and personality) are a favorite of everyone from Kim Kardashian to Michelle Obama.
J. Crew CEO Millard “Mickey” Drexler will soon be getting even more closet space. And thank goodness, with the summer season here and a fresh new crop of seersucker suits and artfully-wrinkled linen shirts!
Mr. Drexler has won the bidding war for 140 Franklin Street, beating out the other buyers to sign a contract that exceeds the $13.5 million ask, according to the New York Post.
The five-bedroom, full-floor “mansion in the sky” will join the rest of the J.Crew chief’s collection, which includes a both a 5.6-acre oceanfront estate on Long Island and the country’s oldest working cattle farm in Montauk, according to the Post. The Bronx-born Drexler does not, at least under his own name, own any other properties in the city, according to city records.