THE Palm may help New Yorkers take a bite out of Downtown.
‘Sauces’ tell us a lease is out with the Italian steakhouse and Jack Resnick & Sons for about 9,000 feet at their new residential building at 200 Chambers St. where the asking rent is about $150 per foot.
The family owned multi-location restaurant has been scouring Downtown for a new plate for many months. The sizzling new building is located in TriBeCa, near City Hall, the World Trade Center site and Battery Park City – putting it within the crossed knives of many residents and office workers.
Neither Burt Resnick or Jeffrey Roseman of Newmark Knight Frank, the restaurant’s broker, would be grilled for comments.
The Palm has been located in the Resnick building uptown at 250 W. 50th St. for many years so this deal would continue what is apparently a juicy and tender relationship.
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Along with their deal for the former Howard Johnson’s site in Times Square, American Eagle Outfitters just leased a total of 56,324 feet at 417 Fifth Ave. in a huge new expansion. The office space comprises the entire eighth floor and parts of the ninth and tenth floors of the 410,000 foot, 11-story building. Much of it will be occupied by the company’s new Martin & Osa retail division.
Bernard Weitzman and Jeffrey Kilimnick of CB Richard Ellis negotiated on behalf of American Eagle. The firm is currently across the street in 401 Fifth Ave. where they will remain in over 60,000 feet of area. “It was extraordinarily convenient and the space was there in a tight market and this allows them to have a little campus in New York City,” said Weitzman.
Daniel Gohari handled the Moinian Group in-house through Michael Dreizen and Andrew Udis of Newmark Knight Frank. The asking rent is in the low $60s. Some of the space was recaptured from Atari. The building was bought in July for $235 million and is now 100 percent occupied.
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How did the Downtown Citigroup complex slip from Shorenstein’s grasp to SL Green Realty Corp.’s pockets? Three weeks of sluggish negotiations took a turn to the dark side when the financing markets changed terms and spies said Citigroup was asked to pay more rent for its 13-year deal. The Cushman & Wakefield brokerage team turned to the second round bidders and SL Green stepped up with a bigger chunk of change and got the deal signed up lickety-split.
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Luxe retailers clamoring to take over the current Gucci building at 685 Fifth Ave. at 54th St. are all hitting the $2,000 a foot-mark based on the ground floor. “All the proposed rents are exceeding $10 million for 20,000 feet,” snitched our source.
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Giant law firm Latham & Watkins is getting bigger. The firm is growing by about 70,000 feet in the iconic Lipstick Building at 885 Third Ave. making its total occupancy about 400,000 feet. In the deal negotiated by Scott Gamber of CB Richard Ellis the attorneys will spread into floors 14-16 and 20. They currently occupy 3 through 13 as well as 21-33 and a portion of the 25th floor of the 34-story building.
Brian Gell and Laurence Briody also of CBRE represented Metropolitan Real Estate Investors, which purchased the building back in July for $607 million. This is its first major lease signed since that time and the building has asking rents ranging from $100 to $125 per foot. Metropolitan continues to seek new investments.
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HSBC dumped its subprime business and now it wants to dump 289,106 feet at its gorgeous city building by Bryant Park at 452 Fifth Ave. According to CoStar Group data the assignment for two-thirds of the 500,000 foot tower has been secured by Peter Riguardi, head of Jones Lang LaSalle.
