It’s major news that Sweden’s Ingka Investments, which owns most Ikea stores, formed a “strategic alliance” in Extell’s planned, one million square-foot mixed-use tower at 570 Fifth Ave. Developer Gary Barnett has long planned to build a large new skyscraper at the precious Midtown site. Ingka will hold a one-third stake in the project and have full … Read more
Sixth Avenue has reclaimed its title as Midtown’s No. 1 office-leasing corridor, as measured by the least percentage of vacant space — the latest lead change in the never-ending bragging-rights battle with Park Avenue. Colliers reports that Sixth Avenue’s fourth-quarter occupancy at 11.5% of space available was the lowest of any Midtown corridor and slightly bested … Read more
It’s high-five time at Nine West, the near-mythic office tower at 9 W. 57th Street enjoying new life under Stefan Soloviev, the son of late developer Sheldon Solow. The 50-story skyscraper with over 1.6 million square feet behind its famous sloping facade inched closer to 100% occupancy with a newly signed lease with French global … Read more
Arc’teryx, the Canada-based maker of high-end outdoor apparel and equipment with five Manhattan stores, is braving the biggest retail stage of all — Rockefeller Center. The company signed a lease for 12,689 square feet at Tishman Speyer’s 600 Fifth Ave. between East 48th and 49th Streets. The two-story location will replace Aritzia, which the Commercial … Read more
