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Amid the litany of high end retailers who have been compelled to shutter their doors due to a precipitous drop in revenue from the average shopper has been the iconic fashion designer, Ralph Lauren. Mr. Lauren is better known in common parlance amongst native New Yorkers as Ralph Lipschitz, originally from the Bronx.
Since the lights have been shut for the final time in Mr. Lauren’s Fifth Avenue flagship store, it has been reported that the struggling fashion house has been still shelling almost $70,000 per day in rent.
Back in 2013, Mr. Lauren took out a 16-year lease at the tony location of 711 Fifth Avenue which totaled $400 million. Breaking that down, it amounts to a $25 million payout to the landlords per annum or $68,493 per
Pistilli Realty Group is an investment firm based in Astoria, Queens. They are led by the Pistilli family. Recently, according to The Real Deal real estate reporting site, they made a purchase of six buildings in the Bronx to the tune of $38.5 million, or $206 per square foot.
The purchase was made from Kassirer Emerald Equity Group, which had ownership of the properties since October of 2015. Back then, Isaac Kassirer had purchased them as part of a bigger real estate portfolio (known as
The United States’ largest lender JPMorgan Chase & Co. is planning to increase the size of its technology hub in New York City by more than three times. Bloomberg reports that this is in order to make more space for the bank’s coders and data engineers.
The firm is looking to lease an additional 300,000 square feet from Brookfield Property Partners LP in 5 Manhattan West’s upper levels. In the same building, JPMorgan currently occupies only 125,000 square feet. Although the bank is now
On Thursday, April 20, developer Two Trees Management announced that in the summer of 2018, the giant new public park will open along the Williamsburg waterfront. The park is one component of the overall Domino redevelopment project.
The new waterfront park will span a quarter of a mile and be called Domino Park. The same firm that headed the construction of the High Line, James Corner Field Operations, have designed this new park.
According to Curbed New York, “Much like the High Line
The Georgica Pond home, which belongs to the investment banker Carl Tiedemann, is back on the market for $85 million— almost double its initial asking price.
The Wall Street Journal reported that the lot at 19 and 23 Chauncey Close in East Hampton, is 7.1 acres and was originally on the market for $45 million in 2015. The price was pulled back to $32 million and then taken off the market, due to sale prices dropping in all parts of the Hamp-tons in the last quarter of 2016, reported Douglas