Saks Fifth Avenue owner developing luxury hotel, apartments in former department stores
Saks Fifth Avenue is considering expanding its brand into hotels and luxury apartments as it seeks to grow beyond the tough retail industry, according to information obtained by The Washington Post. Following the shock announcement that Saks’ parent company, HBC, would acquire rival Neiman Marcus for $2.65 billion, HBC is developing a hotel and 56 […]
Related Companies to build 1,200-foot skyscraper on Madison Avenue
Related Companies plans to build a 1,200-foot-tall skyscraper on Madison Avenue, Related CEO Jeff Blau told Realty Check. Cloudbuster, which would include luxury condominiums, shops and possibly a hotel, is planned to be built at 625 Madison Ave., including the adjacent 39 E. 58th.Number St., the former location of restaurant Lavo. Related’s desire to build […]
Major traffic jams expected as New York City’s Third Avenue Bridge gets suck
Photos show a New York City bridge became stuck open on Monday afternoon after overheating due to the summer heat. The Third Avenue Bridge, which crosses the Harlem River and connects Manhattan to the Bronx, became stuck at about 2:46 p.m., when metal on the 126-year-old bridge overheated, causing it to expand, according to FOX […]
Park Avenue office tower lures another tenant amid major upgrades
Park Avenue’s rental boom shows no signs of slowing. In the latest big deal, Tradeweb Markets signed for two floors, 76,000 square feet at 245 Park in SL Green. The company, which operates an electronic platform for interest rates, credit, equity and financial markets, is relocating from 1177 Sixth Avenue in Silverstein. Asking rents at […]
Saks Fifth Avenue parent to buy Neiman Marcus Group for $2.65 billion
Saks Fifth Avenue’s parent company, HBC Announced Thursday The deal to acquire Neiman Marcus Group, the parent company of Neiman Marcus and Bergdorf Goodman, for $2.65 billion. HBC said if the deal closes, it will create Saks Global, which will include Saks Fifth Avenue, Saks Off Fifth, Neiman Marcus and Bergdorf Goodman. Each of the […]
Saks Fifth Avenue and Neiman Marcus to merge in $2.65B deal
Saks Fifth Avenue and Neiman Marcus have reportedly agreed to a major merger that would combine the nation’s two largest luxury retailers, with Amazon also participating in the deal. Saks parent HBC, which The Washington Post first reported last summer that it was in merger talks with its longtime partner, is buying Neiman Marcus for […]
Want to Understand the Inflation Problem? Look to Harvey Road, Not Pennsylvania Avenue
Estimated Reading Time: 4 minutes As news headlines have reported, the US economy today suffers its worst inflation in two generations. Not coincidentally, US public debt is also at its all-time high. As if on cue, opposition pundits are blaming the Biden administration, whose apologists, in turn, blame Russia and corporate greed while touting the success of Washington’s […]
Twin-towered residential project 1515 Surf Avenue nears completion in Coney Island
The upcoming completion of LCOR’s 1515 Surf Avenue is the best news for Coney Island since the parachute jump was designated a city landmark. Located just a short walk to the ocean, the twin tower apartment complex offers exactly what the neighborhood needs: more market-rate housing. The project’s 16- and 26-story towers will house 324 […]
NYC vandal scrawls ‘Palestine’ on wall of Park Avenue Synagogue
Anti-Israel vandals have targeted another Jewish landmark in New York City, this time carving “Palestine” into one of Manhattan’s largest synagogues. According to the New York Police Department, the graffiti was discovered around noon Friday on the exterior wall of the Park Avenue Synagogue. The photo shows the word “Palestine” graffitied underneath the Bible verse, […]
Puerto Rican Day Parade descends on NYC’s Fifth Avenue for 67th year
A national parade celebrating Puerto Rican Day took place Sunday down Manhattan’s Fifth Avenue, in what organizers called the “largest display of cultural pride” in the United States. Now in its 67th year, the raucous event began near 44th Street and wound its way uptown along Manhattan’s boulevards, winding its way to East 79th Street […]