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Commercial Observer
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Edited by Jotham Sederstrom | Jsederstrom@observer.com

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Tuesday September 10, 2013
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Three Tenants Lease at 20 West 37th Street

BY GUS DELAPORTE

Landlord Neuss Real Estate has signed three new tenants to long-term deals at 20 West 37th Street, The Commercial Observerhas learned. Asking rent for the building—now 100 percent leased--is $38 per square foot.

“This location is really picking up a lot of steam because Midtown South has become very pricey,” said Paul Walker of CBRE, who represented ownership in the transactions. “This neighborhood is great for transportation and the product is very similar to that of Midtown South.”

The building owner has its own in-house architect and will provide the build out for each tenant. Occupancy is expected between September 1 and November 1.

To read the full story, click here.

Malkins Reject Offers, Proceed with ESB REIT

BY AL BARBARINO

Anthony Malkin and Malkin Holdings plan to move ahead with plans for a public REIT that would include the Empire State Building as an asset, according to a letter filed with the Securities and Exchange Commission and sent to investors on Friday.

The announcement comes despite a string of unsolicited offers made over the course of the last several months to buy the Empire State Building, as well as separate offer for the second largest building in the proposed REIT.

To read the full story, click here.

Park Slopers Slam Hospital Expansion Plans

BY BILLY GRAY

Just as hospital closures throughout the city become a centerpiece issue of the mayoral race, a new organization called Preserve Park Slope is gearing up its battle against Methodist Hospital’s expansion plans in the area.

In a statement to neighborhood blog F’d in Park Slope, the community group speaks out against the hospital's potential growth spurt in the increasingly wealthy beacon of brownstone Brooklyn. “If this project moves forward as currently proposed,” the statement reads, “they will build a 300,000 square foot 8 story building that will take up nearly an entire city block, create a multi-lane auto and pedestrian pass through tunnel between 6th & 5th Streets and destroy as many as 15 brownstones in the process.”

To read the full story, click here.

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