Tuesday August 20, 2013
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| New York Retail Rents Second to Hong Kong |
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BY GUS DELAPORTE
Despite asking rents on Fifth Avenue topping $3,000 per square foot, New York prime retail space still trails the Hong Kong market, where asking rents are $4,328, according to CBRE’s quarterly ranking of the world’s top 10 retail markets.
“Global retailers continue to desire premier retail locations in gateway cities because of the global shoppers those corridors attract and the value delivered for brand visibility,” said Anthony Buono, executive managing director of Americas Retail Services at CBRE, in a statement.
To read the full story, click here.
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| The South Bronx Gets Its First Boutique Hotel |
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BY BILLY GRAY
Empire Hotel Group expanded beyond Manhattan for the first time this weekend, giving the Bronx its first boutique hotel with the Opera House.
The 60-room lodging, located in the former Bronx Opera House, opened yesterday at 436 East 149th Street in the Melrose neighborhood.
To read the full story, click here.
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| Engineering Firm Relocates to Times Square |
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BY AL BARBARINO
Engineering firm Simpson, Gumpertz & Heger, Inc. has signed a seven-year, 11,695 square-foot lease and relocation to 550 Seventh Avenue.
The full, 10th floor space will be used as the company’s New York City headquarters after its relocation from its West 34th Street offices, where the company was leasing several floors. The new space features windows on three sides.
To read the full story, click here.
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| Soho, Noho Boast Lowest Availability Rate |
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BY RICHARD PERSICHETTI
Which submarket out of the 17 submarkets tracked by Cassidy Turley claims the lowest availability rate through the first seven months of 2013?
Well, if you guessed the Soho/Noho/Village submarket, you would be correct! I have to admit, before I worked in Manhattan real estate, the only thing I knew about this area is that it was home to Little Italy, where I make it a point to attend the Feast of San Gennaro every September. But working in real estate, I had to learn more about this quirky neighborhood that has a mix of many different tenants, from artists and designers to tech and media.
To read the full story, click here.
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| Eight Great Questions to Ask on a Site Tour |
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BY SCOTT SPECTOR
You’ve found an office space and it looks ideal—at least at first glance. Now it’s time for a more thorough walk-through, also known as a “due diligence site tour.”
So, what do you need to know, from an architectural perspective, before you commit? Here are eight questions to ask:
To read the full story, click here.
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