BY AL BARBARINO

The storied Manganaro’s Hero Boy will be moving out of its Westside home at 494 Ninth Avenue after the $15.75 million sale of it and an adjacent building, The Commercial Observer has learned.

The seller of the five-story, mixed-use buildings at 484 Ninth Avenue and 492-494 Ninth Avenue, which owns the Manganaro’s, will vacate that retail space, and the new owner, described only as an “opportunistic buyer,” will likely redevelop the century-old properties, sources said.

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BY GUS DELAPORTE

Amcom Software has signed a 10-and-a-half-year deal for the entire 8,620-square-foot eighth floor at 256 West 38th Street, The Commercial Observer has learned.

Asking rent for Amcom’s new space was in the low-$40s but the tenant will pay rent in the high-$30s per square foot, according to data from CompStak.

A subsidiary of USA Mobility, Amcom Software provides solutions for secure smartphone texting, public safety response and clinical alerting. Headquartered in Eden Prairie, Minn., Amcom operates U.S. offices in Bedford, N.H., Jacksonville, Fla., and in New York at 171 Madison Avenue.

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BY BILLY GRAY

Tishman Speyer has announced that the famed Rainbow Room will reopen in the fall of 2014. That's later than was expected last month when Tishman began accepting bids from restaurant product and service suppliers, but a decisive step forward for the sky high 30 Rockefeller Plaza cantine that has been closed since 2009.

"The Rainbow Room space has occupied the collective imagination and memories of generations of Americans and New Yorkers," Keith Douglass, the managing director of Rockefeller Center, said in a prepared statement. "We are pleased to reopen it, and we are committed to operating a Rainbow Room that will offer top levels of dining service and catering for today's visitors while preserving the elegance for which it is so well known."

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BY ROBERT KNAKAL

With last week’s primary elections behind us, the question for the commercial real estate industry now becomes: how will the result of the November mayoral election effect our industry?

Bill de Blasio and Joe Lhota have each articulated positions on various issues and have been surprisingly silent on others.

For participants in New York City’s commercial real estate industry, there are three main areas of concern that it would be great to hear more about from the candidates as they will all materially impact our market’s underlying fundamentals, in both the short- and long-term. They are public safety, affordable housing, and real estate taxes.

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BY RICHARD PERSICHETTI

Last week was the 12th anniversary of 9/11. These events affected everyone throughout the city but also had a significant impact on the city’s commercial real estate market. I remember gathering data and statistics on companies that had been temporarily and permanently displaced from their buildings downtown. Fast forward to today, when my research team is looking at the growing trend of tenants migrating into Lower Manhattan over the past 20 months.

Since January 2012, 94 companies moved from Midtown and Midtown South to Downtown, which accounts for 37 percent of the 5.6 million square feet of new leases signed during this time. Despite having the highest availability rate of the three major markets at 13.6 percent, Downtown has been in high demand. Of these 94 tenants, almost two-thirds of them were from the TAMI sector (37 percent) and professional services (26 percent) industries.

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