Here is the scoop on Scoop.
The prime Meatpacking District building at 430 W. 14th St., where Scoop has a 14,000-square-foot shop, has been corralled by Joe Sitt of Thor Equities for close to $100 million, according to sources.
The 61,321-square-foot red brick loft building is on a key block in the sizzling Meatpacking District. As we told you in February, Yucaipa’s Ron Burkle, who paid just $65 million for it late last year, hired Eastdil Secured’s team of Douglas Harmon, Adam Spies and Kevin Donner to flip it with that price in mind.
Along with nearby Soho House, Burkle owns a majority stake in trendy retailer Scoop and can help unlock the value of that under-market lease.
It’s likely that retail-focused Sitt has plans to move or buy out some of the tenants, which include Edris hair salon, designers Rena Lange and Alexander McQueen, and the Hogs N’ Heifers bar.
Last week, Larry Gluck of Stellar Management said he and Rockpoint are giving Harmon and Spies the assignment to sell the Milk Studio Building at nearby 450 W. 15th St. with an expectation of raking in a cool $300 million.
Across from Hogs N’ Heifers, Harmon and his team are working on bringing together the Romanoff family, which own the vacant lot at 860 Washington St., with a recapitalizing and development partner, sources said.
The site between the Standard Hotel and Diane von Furstenberg can host a 125,000-square-foot boutique office and retail building. Stay tuned to see who the Romanoffs’ “marry.”
No one returned requests for comments prior to press time.
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Uptown, the City University of New York is finally in contract to sell 20 East End Ave. at 80th Street to Corigin for what market sources say is “substantially” more than $60 million.
According to sourcs, broker Ira Schuman of Studley juggled a field of wishful contestants including Harry Macklowe, the Wilfs, Brodsky and JD Carlyle. The property will likely be redeveloped into a luxury condo.
Corigin, headed by Chairman and CEO Ryan Freeman and President Ed Baquero, recently redeveloped the Sugar Lofts at 79 Laight St. and The Element at 559 W. 59th St.
The 1939 former Dept. of Health facility is now an administrative building. Funds from the sale will go toward CUNY’s condo/lease at the Durst’s 205 E. 42nd St. and equipment for its science facilities, said a spokesman, who declined to discuss pricing.
Schuman and Baquero did not respond to requests for comment.
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Zeckendorf Development and Eyal Ofer’s Global Holdings break ground this morning on the construction of an 87-unit luxury condominium at 50 United Nations Plaza. The 44-story, 570-foot tall building is opposite the United Nations complex along First Avenue and E. 46th Street just south of Trump World Tower.
While SLCE still appears as architect of record, Norman Foster’s Foster + Partners has taken over for architectural accolades. This is Foster’s first residential building, and it will have a prominent place on the East River skyline.
A new rendering of the facade shows it echoes the half circles of the Corinthian residential condo a few blocks south on First Avenue.
Under a new unit plan, the 241,624 square feet will have four apartments per floor up to the 17th floor, two per floor from the 18th to 34th floors, one apiece from 35 to 42, and one duplex penthouse. The old plan had two duplexes on the top four floors.
When it opens, the building will have a restaurant and a fitness center with a pool. There will also be parking for 87 cars — one for every residence — a big plus from the original plans that called for a paltry 17 spaces.
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Vornado Realty Trust’s new non-amortizing interest-only 3.344 percent $950 million, 10-year loan on 1290 Ave. of the Americas has shaken out some info bits.
If Microsoft renews its lease, it could open a retail store in the base, a report from Morningstar Credit Watch says. A $10 million reserve is in place should it move. The tech giant has been kicking bricks all over including the lower floors of 11 Times Square that include a terrace.
The loan returns $478.8 million in equity so 30- percent partner Donald J. Trump could pocket roughly $150 million when the loan closes in January. Trump, who was in Miami over the weekend, could spread some of that cash into his 800-acre redevelopment of the Doral, which he boasts “will be the greatest golf course in the United States.”
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Retailer Jeremy Argyle will open this month in 600 square feet at 321 Bleecker St. between Christopher and Grove streets where rents are still a “reasonable” $300 to $400 per foot.
Caleb Petersen of RKF represented the retailer, which sells men’s shirts and accessories and already has a spot in Soho.
Betrand de Soultrait of SCG Retail represented the sublessor, Manoucher Hedvat. Earlier this year, de Soultrait was representing Saint James on a deal for the space next door at 319 Bleecker where Hedvat was also the sublessor. Hedvat liked him so much he hired him to be on the ownership side for the 321 space. He reached out to Petersen at RFK, and the ink was signed within three weeks.
Jeremy Argyle is the nom de store for Brian Jeremy Guttman, who grew up on Argyle Avenue in Montreal where his dad founded one of Canada’s largest clothing companies.
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Lobel’s Kitchen will open in 2,450 square feet at Trump Plaza at 1030 Third Ave. on the northwest corner of E. 61st Street. The 15-year deal for the double-height, curved storefront had an asking rent of $250 a foot.
Gary Dana, along with Rick Dana and Adam Kramer of the Dana Group at Prudential Douglas Elliman, represented Lobel’s and worked closely with Allen Weisselberg of The Trump Organization. The asking rent was $250 a foot.
Lobel’s sells quality meats and other items and has a catering business. Founded in 1840, the company has a location on Madison Avenue and at Yankee Stadium.
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Ad firm SpotCo, whose clients include film, TV and publishing companies, will move to 23,402 square feet on the 18th and part of the 17th floor of 114 W. 41st St. between Broadway and Avenue of the Americas.The company is current located at 512 Seventh Ave.
A $7 million capital program created new retail façades, a pass-through lobby and a rotunda.
Carri Lyon and Mark Mandell of Cushman & Wakefield represented SpotCo, while C&W colleagues Tara Stacom, David E. Green, Peter Alden and Ashlea Aaron represented the ownership.
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Insurance adjusters tell me Gov. Andrew Cuomo made their lives harder by announcing he was waiving the “hurricane deductible.”
That’s because in the eyes and nomenclature of the insurance world, a “hurricane” did not hit the New York area.
According to NOAA and the National Weather Service, by the time Sandy hit our shores, she was but a mere tropical storm.
New York homeowner policies contain around a 5 percent “hurricane” deductible.
So if Sandy was a hurricane, you’d be losing $25,000 on a $500,000 claim. That’s not peanuts, and was what Cuomo waived, believing he was doing everyone a favor.
But when insurance adjusters get ready to hand out checks minus the $1,000 or so for a “regular” deductible, some homeowners are still unhappy that they have to pay any deductible.
Just be happy Sandy wasn’t a hurricane, even if Sen. Chuck Schumer is now complaining the insurance companies are “nickel and diming” the policy holders.
Another thing we learned: if a tree fell across your driveway and blocked access to your house, the removal is covered. We know a real-estate guy who had 60 trees fall, none on the house and none on the driveway. None are covered. Firewood anyone?
