‘Toxic’ lawsuit driving down value of apartments at 432 Park Avenue
Eighteen units in a $1.5 billion luxury tower on Manhattan’s Billionaire’s Row that’s been home to celebrities like Jennifer Lopez are now for sale as the owners try to sell the apartments at a loss following a lawsuit alleging construction defects. Once the tallest residential high-rise in the Western Hemisphere, 432 Park Avenue has been […]
Metro riders react to fatal shooting at Potomac Avenue station | FOX 5 DC
Metro flags are lowered to half-staff to remember the life of one of their own. 64-year-old Robert Cunningham was killed trying to … source
Lower Fifth Avenue retail scene thriving after several high-profile deals
Manhattan’s retail industry is too complex to generalize. The New York State Real Estate Commission reports fewer stores are available and rents are higher than last year, but overall the situation is across the board. For example, Soho and Upper Madison Avenue are strong, while Broadway on the Upper West Side resembles a wasteland of […]
Park Avenue vacancy rate lower than before pandemic
It’s no secret that some midtown office hallways fare better than others. Still, Savills’ new research contains some notable findings. Park Avenue’s current vacancy rate of 8.9% not only compares favorably to Midtown as a whole at 17.6%, but also compared to Park Avenue’s pre-pandemic vacancy rate of 11% in Q4 2019. Excellent. Park Avenue’s […]
Kim Kardashian’s Skims leases space on NYC’s Fifth Avenue
Kim Kardashian’s popular shapewear brand Skims has acquired 20,000 square feet of space on New York City’s coveted Fifth Avenue for at least 75% less than previous tenant Versace paid. I leased it. This figure means Skims paid less than $200 per square foot for the property at 647 Fifth Avenue near East 52nd Street, […]
Park Avenue landlords boast new leases after glowing Sixth Ave. report
Park Avenue landlords are sounding the alarm after reporting last week that Sixth Avenue had regained a narrow lead over Park in terms of minimum percentage of available space. The Stahl Organization’s 277 Park Avenue location between East 47th and 48th Streets boasts an unreported 175,000 square feet of new and expanded leases signed in […]
Sixth Avenue reclaims title as Midtown’s No. 1 office-leasing corridor
6th Avenue has regained the title of Midtown’s No. 1 office rental corridor, as measured by lowest vacancy rates. It’s the latest change in leadership in the never-ending bragging rights battle with Park Avenue. Colliers reported that 6th Street’s fourth-quarter occupancy rate was 11.5% of available space, the lowest of any Midtown corridor and just […]
Boston Properties wrapping up $100M revamp of 360 Park Avenue South
No, the world hasn’t ended. That’s not the end of 360 Park Avenue South, the prewar office tower on East 26th Street that Boston Properties is completing over $100 million in relocation and renovation. Last week, the Canada Pension Plan Investment Board unloaded its 29% stake in Tower for just $1. The lucky payer of […]
Cyclists rage about horse carriages blocking new 10th Avenue bike lane
It’s not a stable situation. Bikers in the city are complaining that a Hudson Yards horse-drawn carriage driver driving into Central Park is violating their lane. Cyclists complain that buggies are jamming the newly widened bike lane on 10th Avenue between West 38th Street and West 52nd Street, forcing them to slow down or go […]
Gucci owner pays nearly $1B to scoop up tower on red-haute Fifth Avenue
Gucci's owners purchased a prime Fifth Avenue retail property on Monday for a whopping $963 million. This could mean an exit from its flagship store for rival fashion house Armani. Gucci's parent company, Kering, is building a 115,000-square-foot, three-story retail space at 715-717 Fifth Avenue at East 56th Street, at the base of a 28-story […]