It’s year-end look-back time, folks. But rather than put you to sleep with statistics, we’ll share a bunch of our favorite fun facts and phenomena from the ever-entertaining world of commercial real estate. OFFICES REDUX. Confounding predictions that work-from-home and high interest rates would kill the market for good, Manhattan’s best buildings have so little space … Read more
Beloved Soho seafood staple Lure Fishbar will likely get the hook when its lease expires — because luxury retailer Prada has its sights set on the prized location, The Post has learned. The Milan-based company wants to boot Lure from its underground space at the corner of Prince Street — where it has been for … Read more
Shrugging off speculation that the Ladies’ Mile shopping corridor was losing its juice, Burlington Coat Factory is doubling its space by moving to 620 Sixth Ave., the 1896-vintage, cast-iron building that’s one of the most iconic structures on the avenue between West 14th and West 23rd streets. The clothier signed for just under 80,000 square feet, … Read more
From 2020 bust to 2024 boom. Manhattan’s office market mounted a stirring recovery from its pandemic doldrums, with space so tight that tenants wanting to move or expand are out of luck. Companies such as Singapore-based sovereign wealth fund Temasek, which has 27,000 square feet at the Seagram Building at 375 Park Ave., wanted to grow … Read more
Century 21, the discount fashion department store, slimmed down from 250,000 square feet to 100,000 square feet when it reopened in May 2023 after more than two years of pandemic closure. But the ASG Equities, the real estate arm of the store’s owners, the Gindi family, went right to work finding new tenants and uses … Read more
Improvement comes slowly to Coney Island’s retail and eating scenes. So we’re glad to report every new arrival. LCOR’s 1515 Surf Avenue is among several new apartment projects bringing middle-class residents to the oceanfront neighborhood. The new 1515 Surf Ave. in Coney Island features more than 320 market-rate and 130 affordable rental apartments. LCOR The developers … Read more
The “flight to quality” that’s benefitted owners of prime Manhattan properties is remarkably mirrored in London, the market that’s most relevant to New York’s. According to Knight Frank, the UK’s leading property management and leasing firm, vacancy rates have plunged in the most desirable London submarkets and in the newest office towers especially — which should … Read more
Restaurant-watchers might be stunned by Monday’s opening of Aqua New York, a block-long leviathan at 902 Broadway between East 20th and 21st streets. If they never heard of it, it’s because it hid in plain sight during more than 18 months of construction, with no advance publicity or social media hype. The two-level Aqua spans … Read more
The city’s largest commercial landlords enjoyed big boosts from Bloomberg LP’s sustained and growing stake on Midtown’s East Side. The media giant’s 924,876 square-foot renewal and expansion at 919 Third Ave., which we reported first, came as a welcome surprise to landlord SL Green. Bloomberg LP will lease nearly 1 million square feet at SL … Read more
The biggest relocation lease of October was private equity powerhouse TPG’s move to eight high floors in Tishman Speyer’s Spiral, aka 66 Hudson Boulevard. Its 301,276 square feet was runner-up in size only to Bloomberg’s 749,000 square feet at 919 Third Ave. that was mostly expansion space at the same location. TPG will move from 888 … Read more
