H& M shopping at WTC
H&M may be joining the lineup at the World Trade Center.
The cheap chic Swedish retailer may be taking the second floor in the base of 4 World Trade Center, sources said.
The key location would put the outlet directly across Church Street from the offprice luxury destination the Century 21 department store.
Westfield, which paid $ 1.4 billion to operate the World Trade Center’s retail, declined to comment and an H& M spokesperson said in an email that it has nothing to announce.
If H&M eventually moves in, it will be located just belowthe eagerly awaited Eataly, which has leased 41,000 square feet on the third floor.
These are among the few stores at the 16acre site that are not underground.
The Shuberts have expanded at 520 Eighth Ave. to around 34,000 square feet.
The Broadway theater company had 18,790 square feet and added 14,481 square feet on the 11th floor of the building. The longterm leases also co-terminate in the future.
Brian Waterman and Lance Korman of Newmark Grubb Knight Frank represented the theater owners.
Business is booming not only on Broadway but around theworld.
The Shuberts have strategic alliances with other theaters and their space also houses Telecharge.
“They also have touring companies,” added Waterman. “It’s an international business.”
Eric Gural, principal with Newmark Holdings, represented the building, which had an asking rent in the mid$ 40s per square foot.
Workday is jumping from one Empire State Realty Trust building to the centerpiece namesake tower.
It currently occupies 7,000 square feet at One Grand Central Place on East 42nd Street and will expand and move to 21,401 square feet on the 49th floor of the Empire State Building later this fall.
This is the second company that will be moving from OGCP to ESB. Media General is also making the leap.
Robert Lowe and David Berke of Cushman & Wakefield represented Workday, which provides apps to corporations.
Ryan Kass and Fred Posniak of ESRT, along with William Cohen, Jonathan Tootell and Shanae Ursini of Newmark Grubb Knight Frank, represented the building.
The asking rents have been rising and were in the high $ 50s per square foot at the end of the year.
ESRT is now asking $ 65 per square foot for prebuilts on the 48th floor.
Slate Property Group and Meadow Partners have closed on the purchase of a development site at 111 Flatbush Ave. in Brooklyn for $ 59 million.
It was just a year ago that the sellers, Capstone Equities and the Carlyle Group, purchased the twostory building for $ 35 million.
The buyers paid a record price for the 120,000 square feet of development rights.
The upcoming 20story rental building will have 30,000 square feet of dramatic retail in three stories at its base. It will also include a fitness facility.
The CREW NY luncheon panel that Between the Bricks moderated at the 101 Club on Tuesday included Ann Cole of JPMorgan, Lisa Gomez of L+ M Development Partners, Sara Queen of Brookfield Properties, Sara Mirski of Sam. Boymelgreen and
Laura Pomerantz of Cushman & Wakefield, who discussed the market and their careers before a soldout and appreciative crowd.
The panelists complained that good deals were difficult to find, but were working their portfolios and/ or their clients.
Pomerantz said retailers are still paying $ 3,000 to $ 5,000 per square foot for the best space on Fifth Ave.
This is another reason the $ 1.775 billion Jeff Sutton and GGP venture for the Crown Building’s expanded 110,000 square feet of retail space at the best corner in the world, along with the possible $ 500 million spinoff of its topmost 290,000 square feet to Vlad Doronin of Amanresorts and Michael Shvo, looks as brilliant as its gilded crown.