BY GUS DELAPORTE

Ecommerce media company HookLogic has signed a four-year, 11,721-square-foot sublease from BGB New York on the ninth floor at 99 Hudson Street, The Commercial Observer has learned.

The tenant will pay rent in the low-$50s per square foot, according to data from CompStak.

To read the full story, click here.

BY AL BARBARINO

Global One Real Estate Fund, led by Robert Nelson, has partnered with NYAH Preservation Fund for the $18.5 million purchase of Promenade Apartments, a 318-unit, 32-story residential Mitchell Lama project in Harlem, where the developer plans an extensive re-positioning.

Global One focuses on infrastructure improvements and replacing outdated building systems, said Eastern Consolidated Senior Director Adelaide Polsinelli, who represented the seller and procured the purchaser in the transaction with Director of Financial Services Scott Ellard.

To read the full story, click here.

BY BILLY GRAY

Park Slope’s Bark Hot Dogs will expand to Greenwich Village after signing a 1,200-square-foot long-term lease at 155 Bleecker Street, The Commercial Observer has learned.

The hot dog, french fry and milkshake spot will take over the space recently vacated after 68 years by The Back Fence music venue. Founder and chef Josh Sharkey intends to honor the old club by retaining much of its original decor.

To read the full story, click here.

BY ROBERT KNAKAL

The investment sales activity in the Manhattan submarket is generally a barometer of broader activity citywide. Due to current market dynamics, the rest of the market is performing very differently than the most prime of the city’s marketplaces.

We define the Manhattan submarket as being south of 96th Street on the east side and south of 110th Street on the west side. If you are a frequent reader of Concrete Thoughts, you know how impactful capital gains tax policy had on sales volumes last year. In fact, last year in the Manhattan submarket, there was a record number of property sales recorded. A total of 1,194 properties traded hands; more than 4.2 percent of Manhattan’s 27,649 buildings sold, eclipsing 1998’s total of 1,078 (1998 was the year the Clinton administration reduced the capital gains rate from 28 percent to 20 percent). The dollar volume of sales last year was not as stellar comparatively as there was $31.4 billion of sales, only the third highest total behind 2007’s $52.5 billion and 2006’s $34.8 billion.

To read the full story, click here.

BY RICHARD PERSICHETTI

Life is full of ups and downs. Just ask the New York Jets rookie quarterback Geno Smith, who through the first seven games of his young NFL career has played a great game followed by a less-than-stellar performance. This made me think of the Midtown Class A average asking rent, which started 2013 at $78.01 per square foot but has been up and down throughout the year.

Midtown Class A average asking rents are actually down from January by $0.80 per square foot to $77.21. But why is this?

To read the full story, click here.