CANALI has paid $10.6 million for a new showroom space in the Meatpacking District, where it will eventually move from its current location at 712 Fifth Ave.
The luxury menswear designer will move to 415 W. 13th St. in about a year after its current occupant, Sperone Westwater Gallery, moves into its new location planned for the Bowery.
Sperone is leasing back the location until its new Sir Norman Foster-designed building is ready at 257 Bowery.
“We’re still working out all the kinks and details,” said Maryse Brand of Sperone. “The foundation work has started and we expect to be there in a year.”
Gene Spiegelman and Michael O’Neill of Cushman & Wakefield led the clothing firm in its new space search.
Stuart Siegel of Grubb & Ellis represented the gallery in the deal, which includes the leaseback.
Rents could go for well over $70 a foot, he said, declining to discuss deal specifics.
The gallery’s 8,000 square feet on the second floor and 4,000 feet of finished basement space is entirely temperature- and humidity-controlled and constantly monitored and secured to ensure the precious artwork is kept pristine.
It’s the only office condominium product in the area. Siegel said, “Thirteenth Street is becoming a real power block because it’s sandwiched between the new Standard Hotel and the Gansevoort Hotel with Soho House, Spice Market and Fig & Olive in between.”
Back in December, Siegel sold the 8,000-foot ground-floor store plus 8,000-foot basement to investor Yaron Jacobi and Scoop owner Uzi Ben Abraham for $18 million.
PBS Real Estate is currently offering that retail space.
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A prime six-acre parcel along the Hudson River in Yonkers is being marketed for $33.5 million.
The Altman Lighting parcel is just north of a Metro North station and is a key piece in the city’s Alexander Street redevelopment master plan.
According to Massachusetts-based broker David Hubbard of Denenberg Realty Advisers, Yonkers expects the four-acre upland site to host more than 400 residential units and 58,000 square feet of office and retail space, while another two acres under water can serve as a marina.
Hubbard says his client will relocate and is willing to do a joint venture with an appropriate developer.
The parcel is near the Yonkers pier where Peter Kelly‘s restaurant X20 is drawing crowds and where water taxis dock to bring commuters to the World Financial Center.
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With rents becoming more reasonable, Madison Avenue’s vacant shops are back to attracting global tenants.
Swiss watchmaker F.P. Journe just signed a lease for the prime, 800-foot former Graff jewelry store at 721 Madison Ave. between 63rd and 64th streets.
While the company has stores in cities around the world as well as in Boca Raton, Fla., the Manhattan location will become the US flagship.
Diane Mandel of The Lansco Co. represented the watchmaker. The owner Winter Organization was represented in-house by James L. Winter and Robert C. Fink.
Rents along the venue range from $700 to $1,200 a foot.
Precision-focused founder François-Paul Journe designs each intricate timepiece him self and certain lines are in such demand that there’s a two-year waiting list.
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A tenant that fled from the 91st floor of the North Tower of the World Trade Center to Paramus, NJ, is finally heading back to the city.
ABS, a global shipping and marine facilities research group based in Houston, has now leased the entire 12,712 foot, 42nd floor of 60 E. 42nd St. near Grand Central Terminal.
“They wanted to put their toes back in New York but with workers coming from Westchester and New Jersey, wanted something in Midtown,” said Fred Posniak of W&H Properties, the owner of the building.
The previous tenant, EDO, wanted to consolidate elsewhere, so W&H worked out a cancellation.
The asking rent was $55 a foot.
Robin Fisher and Frank Recine of Newmark Knight Frank brought the group to the building, which is represented by Billy Cohen and Ryan Kass, also of NKF. [email protected]
