News/Events
Fashion Boutique Atelier Secures Retail Space at 181 MacDougal Street
Fashion boutique Atelier New York is upgrading its retail footprint in Manhattan’s Greenwich Village. The multi-brand luxury boutique will be the inaugural tenant in the commercial component of the Straus Group’s newly constructed 181 MacDougal Street luxury condominium building, Commercial Observer has learned. Asking rent for the 2,130-square-foot retail space was $250 per square foot,…
Fintech Firm Stash Financial Leases 12K SF at 641 Avenue of the Americas
This fintech firm is stashing away some new office space. Stash Financial, a digital personal finance and micro-investing company offering financial advice, has inked a 12,322-square-foot office lease at Spear Street Capital’s 641 Avenue of the Americas, Commercial Observer has learned. The lease was signed in mid-August, according to a source close to the deal.…
Two Roads Settles Biscayne 21 Condo Suit, Paving Way for Edition Condo in Miami
Two Roads Development can finally start building its luxury condo development in Miami’s Edgewater neighborhood after reaching a settlement to gain complete control of the waterfront site. The settlement caps a three-year legal stalemate, which had threatened to derail a prominent luxury condo development: the 55-story, Edition-branded high-rise. The Miami-based development firm paid $50 million…
Bank OZK Lends $76M for Connecticut Office-to-Resi Conversion
A joint venture between Saber-Hightower and Granoff Real Estate has sealed $75.5 million of construction financing for an office-to-residential conversion project in Connecticut’s Fairfield County, Commercial Observer has learned. Bank OZK provided the loan on the sponsorship’s 286-unit M7 Lofts development in Norwalk, Conn., where two eight-story office buildings now sit within the Merritt 7…
Seafood Restaurant Crab House Takes 7K SF at 11 East 13th Street
It’s the catch of the day! All-you-can-eat seafood chain Crab House has secured its fourth New York City location at 11 East 13th Street in Manhattan’s Greenwich Village neighborhood, Commercial Observer has learned. The 6,500-square-foot space between Fifth Avenue and University Place went fishing for a new proprietor in early August, following the departure of…
AI Is Turning Retail Leasing Into an Underwriting Business
Retail real estate has never lacked data. It has lacked a reliable way to connect that data to the health of an individual store. A rent roll shows what a tenant is obligated to pay. Demographics describe the households surrounding a property. Traffic counts estimate the number of cars passing a site. None of those…
Manhattan Housing Seasonality: When the Borough Sees its Peaks and Valleys
School calendars, holidays and even the weather can all have an impact on housing market activity across the borough of Manhattan. So can assumptions from buyers when it comes to the strength of the spring and fall markets. The months of March, April, May, June and October have historically — at least from 2015 through…
Robert Milne of Prospect Ridge: 5 Questions
Prospect Ridge has closed its second commercial real estate credit fund with $800 million in capital commitments, the firm announced The Prospect Ridge Real Estate Debt Fund II, which has roughly $3 billions of total lending capacity, will execute first-mortgage loans, mezzanine loans, and preferred equity investments across the U.S. in a variety of property…
The Plan: At 44 West Eighth Street, the Goal Is a ‘Wonderful Visual Cacophony’
Craftsmen often like to leave a bit of themselves behind in the things they create, and that is especially true at 44 West Eighth Street, a new ground-up condominium development in Manhattan’s Greenwich Village. The exterior facade is made from handmade Petersen brick, which is sourced from Denmark, and each brick bears the thumbmarks of…
