As senior director of suburbs for Reckson, a division of SL Green, John Barnes is one of the region’s most prolific brokers, in both Westchester and Fairfield counties. Mr. Barnes, 44, spoke with The Commercial Observer about how each region has weathered the downturn, positive indicators and what they’re showing, and the deals in his pipeline.
When the Port Authority announced earlier this month that it was looking for a developer to build a hotel behind Eero Saarinen’s iconic Terminal 5, The Observer was skeptical, to say the least. Efforts to revive the building after TWA went bankrupt and moved out a decade ago have floundered, and it seemed unlikely Read More
Developer Stanley Chera, whose Crown Acquisitions has been shopping for real estate since at least June, when it lost out to Vornado and Syms in a bid to buy Filene’s Basement (and all of its attendant real estate), is now in contract to buy the St. Regis retail condo at the corner of Fifth 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 of Read More
Starwood Hotels may be cutting costs – the firm recently announced it was consolidating its commercial space into its existing office at 75 Varick Street – but the hotel chain is moving ahead with its plans to erect a new Aloft hotel in Chelsea.
On March 25, representatives of developer Matthew Adell, of Read More
So much for the hotel boom.
The AP is reporting that shares of hospitality companies are tanking amid a gloomy outlook for travel in 2009.
New York-based companies Morgans Hotel Group and Starwood Hotel & Resorts were among those with the steepest declines during the Dow’s overall 777-point freefall on Monday:
Starwood Read More
