By Dan Geiger 12/07/11 10:00am

The Lease Beat

1740

EXCLUSIVE: Victoria's Secret Owner Adds 100K

Limited Brands Inc., an apparel company that owns several major retailers including Victoria’s Secret and Bath and Body Works, has reached a deal to add nearly 100,000 square feet of space at 1740 Broadway, a building owned by Vornado.

Limited Brands will take floors 14 through 17 in the expansion and will now occupy about 500,000 square feet in the roughly 700,000 square foot property. The company, formerly known as The Limited, is represented by a team from the real estate services firm CBRE, led by CBRE’s New York area Chief Executive Mary Ann Tighe and executives Eric Deutsch and Ken Meyerson. Read More

By Robert Sammons 11/22/11 1:00pm

Commercial Stat of the Week

Times Square - November 2011

Stat of the Week: 10.7 Percent

The Times Square vacancy rate, as befitting this carnival-like submarket, has been on a bit of a roller coaster ride during the past few years. The figure, including direct and sublet availability, dipped to a record low 3.2 percent back in December 2006 then climbed to 15 percent by February 2010—before diving back to 8.8 percent in August of this year.

The latest figure shows it climbing to yet another peak, closing this past October at 10.7 percent. Read More

By Dan Geiger 11/21/11 2:16pm

The Lease Beat

Guggenheim's Madison Avenue trophy.

EXCLUSIVE: Guggenheim Partners to Relocate 222,000 SF to Madison Avenue

Guggenheim Partners is looking to bring its New York headquarters to 330 Madison Avenue, sources told The Commercial Observer this afternoon.

The investment and financial services firm would take several floors in the base of the Vornado Realty-owned tower. Estimates vary how much space Guggenheim could fill in the building, but several people with knowledge of the firm’s requirements pinned the potential deal at 220,000 square feet or larger. Read More

By Guelda Voien 11/01/11 11:57am

The Lease Beat

The most popular building on the block.

Greene Street Asset in Soho Nets Hundreds of Potential Buyers

Last Friday David Schechtman of Eastern Consolidated listed 57-63 Greene Street. In fact, the listing went public around mid-day. By yesterday morning, however, he’d received more than 260 calls from prospective buyers all across the city for the Soho retail condo.

He will offer the 13,721-square-foot condominium for $19 million with his Eastern Consolidated colleagues Peter Hauspurg, Lipa Lieberman, Marion Jones and Gary Meese, he said yesterday. Read More

By Jotham Sederstrom 11/01/11 10:50am

the sit-down

Peter Riguardi and Jones Lang LaSalle will move to 330 Madison Avenue.

Jones Lang LaSalle's Tristate President on Big Poaches and Big Moves

Since joining Jones Lang LaSalle in 2002 as president of New York operations, Peter Riguardi has spearheaded a rapid expansion drive that has culminated in the hiring of no fewer than 100 new brokers over the past nine years. Mr. Riguardi, 50, spoke to The Commercial Observer last week about that ambitious hiring phase, the firm’s leasing assignment at 85 Broad Street and, for the first time, his plans to move the firm to 330 Madison Avenue.

Read More

By Dana Rubinstein 3/31/09 10:49pm

Vornado to Beautify 330 Madison for $100 M.

Billionaire and golfing ace Steven Roth believes in New York City’s real estate market, no matter how battered and bloodied and black and blue it may appear at the tail end of a brutish winter.

His gesture of confidence: Vornado Realty Trust, of which he is CEO and chairman, will within three months begin Read More

By Chris Shott 7/22/08 11:31pm

The Penn Is Mightier

Veteran punk rocker Jello Biafra didn’t trash his hotel room during a recent trip to New York. It was already trashed.

“The air-conditioners are so old and beat up, I figure why waste electrical power during an energy crunch when I can just take off all my clothes and work nude?” quipped Mr. Biafra, Read More