Gregg Weisser knows how to handle a hot house. The newly anointed executive managing director of the Moinian Group, and volunteer fireman with the Kismet Fire Department in Fire Island, New York, is no stranger to putting out fires, be it a burning beach house or as a director of leasing across some of the city’s most notable addresses. As the real estate director of JPMorgan Chase, where he had worked for over 20 years, Mr. Weisser closed a million and a half feet of empty space in 1 New York Plaza.
It’s the great white whale of Manhattan retail.
Aside from Walmart, Nordstrom is the store every retail broker in the city dreams of harpooning and reeling into a new home. One prominent broker familiar with the store, the amount of space it needs and the rents it would probably be willing to pay estimates that the commission for handling its lease would be around $10 million.
But like a leviathan lurking beneath the waves, the department store has offered only fleeting glimpses around the city, most notably at several development sites and a few existing assets with the capacity to accommodate its sprawling footprint.
The scuttlebutt nowadays: Nordstrom is contemplating one of two leases, one at the West Side rail yards with the Related Companies or another at the base of Extell Development’s soaring new residential tower now rising at 157 West 57th Street.
It’s ICSC week in New York City and while many in the retail business consider the event secondary to the larger conference held by the organization in Las Vegas each May, for many Manhattan real estate brokers, the conference is the most important of the year—and not necessarily just because of its jam-packed daytime roster of speakers and seminars.
In establishments from the New York Times’s four-star-rated Del Posto to the Dream Hotel in Lower Manhattan, buttoned-up retail brokers will be wining and dining potential clients during a two-day orgy of after-hour soirees, dinners and suds-soaked meetings, all designed with the deal in mind.
Yes, it’s true: New Yorkers are facing stiff competition in the real estate market from highfalutin foreign buyers. And where precisely are these buyers coming from? China, Russia and Brazil, according to a break-down from The Real Deal.
Does the $44.95 million include the decor? This penthouse apartment at 25 Columbus Circle has some knockout views, but the decorations are just something else. And if you have a multi-million-dollar spot on the 75th floor of the Time Warner Center, we guess you have to go all-out with the interior.
To all the Jets fans out there tonight in their green and white celebrating St. Patrick’s Day, an extra shot of Jameson is in order. Despised Patriots quarterback Tom Brady was tackled on his Time Warner Center condo, scoring a million dollars less than he originally wanted. That said, the Bündchen’d back was not sacked Read More
Red Carpet Real Estate
It came as a surprise to many that the Jets beat the almost perfect Patriots in the first round of the NFL playoffs a few months ago, but the even bigger upset may be that New England’s All-Pro quarterback Tom Brady has, after more than two years of scouting, found a buyer for his stadium-sized condo Read More
The mind-numbing mega-penthouse went into contract for $57.5 million last month, but a dozen or so floors down in Steve Ross’ Time Warner Center, a quaint two-bedroom is on the market for all of $6.5 million. The foyer has 13-foot ceilings and plenty of room for art, and opens into the 18-foot living room Read More
Sometimes, the best things in life really are free.
Steve Ross, head of the Related Companies, is one of the city’s most influential developers–he is hard at work on Hudson Yards and Hunters Point South, among so much else–as well as one of its richest, worth $3.4 billion, putting him at No. Read More
In August the Post reported that the planned union of two high-floor units at 25 Columbus Circle was broken off before it could ever be consummated. The article disclosed that venture capitalist Douglas Von Allmen, a hedge fund financier and victim of Ponzi schemer Scott Rothstein, sold his 3,500-square-foot duplex on the 74th Read More