BY GUS DELAPORTE

DelShah Capital has acquired 58-60 Ninth Avenue in the Meatpacking District for $18.2 million, it was announced yesterday.

“We knew the tenant was leaving and that this was a very high-traffic space,” Michael Shah, principal at DelShah Capital, told The Commercial Observer. “We saw it as an opportunity to re-lease the space.”

The 10,839-square-foot building is located across from the Apple Store on West 14th Street. Restaurant Pop Burger is currently located in the space, but vacates May 1 and is unlikely to be replaced by a similar tenant.

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BY BILLY GRAY

Eight years after opening in Red Hook, Baked bakery is set on a Manhattan expansion, but owners Matt Lewis and Renato Poliafito are "having the darndest time finding a space." So, they're asking fans of Baked's cakes, cookies and muffins to join in the effort.

"You see," reads a post on the Baked website, "finding a retail space in Manhattan is nearly as difficult as finding a decently priced apartment in Manhattan." The crowdsourcing effort asks customers to suggest ideal locations, and a winning suggestion will net the tipster a sweet prize.

But first, some qualifications on the Manhattan satellite. "We’d love to be somewhere between midtown and the financial district, though if you find a great space anywhere in the city, let us know," the owner says. "Maybe it will work." Baked is looking for around 1,500 square feet of retail space in addition to a basement for prep and storage.

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BY AL BARBARINO

Cushman & Wakefield represented ownership at 500 Fifth Avenue in a 10,346-square-foot lease renewal to The University of Oxford, completing a string of five recent leases at the building.

The Oxford lease and four other recent leases arranged at the 680,000-square-foot Class-A skyscraper total roughly 20,000 square feet and are reflective of the building’s flexibility, which attracts a range of tenant types and a blend of the old with the new, brokers said.

“They all have a different story,” said C&W’s Harry Blair, who represented 500 Fifth Avenue Inc. with Sean Kearns in the transactions. “500 Fifth Avenue offers tenants a prestigious Midtown Manhattan address combined with high-quality space with plenty of natural light and spectacular views of Bryant Park.”

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BY MICHAEL EWING

Join the REIT Center at the NYU Schack Institute of Real Estate for its 18th annual symposium on real estate investments and trusts. Hamid Moghadam, chairman and chief executive officer of Prologis Inc., has been selected as the keynote speaker and will receive the Visionary Award.
NYU Schack Institute of Real Estate: 18th Annual REIT Symposium, Pierre Hotel, 2 East 61st Street, 7:30am-4pm; contact Jessica Estrada-Watson at (212) 992-3618 or jessica.watson@nyu.edu for more information.