Robert Knakal has long had a simple philosophy about selling real estate.
The way he sees it, there are approximately a million buildings in the city, and the broker that gets to sell any one among the multitude that will hit the auctioning block at a given moment is, sometimes, simply the person who happens to pitch their services to the right seller at the right time. Read More
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. Read More
One down, two to go.
The Related Cos. is a bit closer to paying rent on the West Side rail yards–valued at about $1 billion over the course of its 99-year lease with the M.T.A.
The commercial Architecture Billings Index has, for three months now, been slightly over 50 (it was 50.4 in July). Scores Read More
Two years after it was first designated the winning bidder of the West Side rail yards, the Related Companies has signed a contract with the M.T.A. to embark on a $15 billion development on the 26-acre site by the Javits Center, the company announced Wednesday.
The firm, led by Stephen Ross, also announced a new Read More
The M.T.A. on Monday made public its new $1 billion deal with Stephen Ross’ Related Companies to develop the West Side rail yards, and in it are some details about just when the agency can start to expect taking in rent for selling off the air over its giant 26-acre LIRR yard by the Read More
A $1 billion deal to develop the giant West Side rail yards is up for approval by an M.T.A. committee on Monday, as the development giant Related Companies has nearly completed an agreement with the M.T.A. to develop the property.
The deal calls for Related to begin paying rent on the property, a 26-acre swath of Read More
Apparently it takes a lot longer to sign a development contract when construction is only theoretical, compared with when shovels are ready to hit the ground.
For the second time in three months, and the fourth time in a year and a half, the anticipated contract for the Related Companies to develop the Read More
Giant developer Related Companies will have another two months before it must sign a contract with the M.T.A. to develop the West Side rail yards, Manhattan’s largest remaining development site, pushing back a deadline that was set to expire at the end of this month.
Related and the M.T.A. recently reached a revised agreement Read More
The Related Companies, the real estate giant that built the Time Warner Center, is nearing an agreement to commit to building over the West Side rail yards, an oft-delayed project that could be Manhattan’s single biggest development.
The firm envisions $15 billion of new office, hotel and apartment towers on a 26-acre Read More
There was a less-than-subtle undertone to a Monday morning mayoral press conference in Chelsea.
Speaking in the wake of the City Council’s rejection of a proposed mall project in the Bronx, Mayor Bloomberg, side by side with Council Speaker Christine Quinn, emphasized “creating jobs;” of “progress” on development projects; of cooperation with the City Council.
On Read More
