While leasing activity for much of New York City in the past few months has been more lackluster than blockbuster, a sizable chunk of available space –sizable in the, say, 6 million square foot range– is on the cusp of hitting the market, The Wall Street Journal reports.
New developments like 1 World Trade Center, 4 World Trade Center, and Edward Minskoff’s 51 Astor Place, are all slated to hit the market in 2013. The last time NYC had this much new space becoming available was in 1989, said Cassidy Turley’s Robert Sammons.
Speeches were casually ignored, drinks were spilled and bonds were formed at last Thursday’s 116th annual Real Estate Board of New York Gala, which this year drew an estimated 2,000 brokers, owners, advertising buyers and real estate reporters to the New York Hilton for an evening of conviviality, honorifics and hushed deal making. Among the fray was Commercial Observer staff writer Daniel Geiger, who during the course of the evening saw his stenopad tossed by an irate real estate broker and who unabashedly accosted Studley’s Woody Heller in the hotel’s bathroom, all for the sake of the story. Below, a timeline of gala comings and goings, from the innocuous gossip down to the downright obnoxious.
Silverstein Properties has appointed a leasing team from the real estate services firm Jones Lang LaSalle to handle deals at 1177 Avenue of the Americas.
A lot appears to be riding on the assignment.
At first glance, the 11-story property on 11th Avenue near 47th Street hardly seemed the ideal candidate to become Manhattan’s next big office building.
Situated on the far West Side, the 98-year-old building at 636 11th Avenue was destined for a full-blown hotel or condominium conversion when the Hakimian Organization purchased a stake in it in 2005. Indeed, what corporate tenant in its right mind would willingly wander so far west? Or at least that’s what Ben Hakimian thought.
Now Mort Zuckerman will have to write his monthly rent checks to a rival.
The home of Mr. Zuckerman’s prized asset, the Daily News, is in contract for more than $700 million, according to a source with knowledge of the deal.
A young and bullish landlord, Broadway Partners, will buy the 14-story media mecca at Read More