A Midtown South boutique office building has been purchased by Williams Equities for little more than half of its most recent sale price, Realty Check has learned — but there might be more to understanding the deal than the price tag indicates. Williams paid only $147.5 million for 470 Park Avenue South, an historic, 300,000 … Read more
Famed chef Jean-Georges Vongrichten’s new Park Avenue restaurant has become the epicenter of a new, post-pandemic phenomenon for Wall Street’s movers and shakers: the power hour, Side Dish has learned. As soon as the closing bell rings, traders, investors and C-suite executives flock to Four Twenty Five, which opened last December at 425 Park Ave., … Read more
Iconic wine retailer Sherry-Lehmann’s Park Avenue landlord has won permission to finally clear out old shelves, fixtures and leftover bottles of wine at the storied shop — which have been collecting dust for more than a year since it shuttered in scandal. New York judge Suzanne Adams on March 4 approved an “order of ejectment” … Read more
Park Avenue landlords are tooting their horns after we reported last week that Sixth Avenue regained a narrow edge over Park in terms of the least percentage of available space. The Stahl Organization’s 277 Park Ave. between East 47th and 48th streets boasts of nailing down an unreported 175,000 square feet of new and expansion leases in … 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
No, the world isn’t ending — and neither is 360 Park Avenue South, the prewar office tower at East 26th Street where Boston Properties is wrapping up a more than $100 million repositioning and upgrade. Last week, Canada Pension Plan Investment Board unloaded its 29% stake in the tower for exactly $1. The lucky payer … Read more
