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Uniqlo buys 546 Broadway from Isaac Chetrit
The fashion brand’s flagship has been located in the building since 2006
New York /
Japanese retailer Uniqlo has sewed up a deal to buy its New York City flagship.
The popular clothing brand reportedly paid AB & Sons the firm led by Isaac, Eli and Abraham Chetrit between $160 million and $200 million for the five-story, 95,500-square-foot property at 546 Broadway, sources tell
The Real Deal.
In 2016, AB & Sons secured a $125 million refinancing from Wells Fargo on the property.
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From left: 909 Third Avenue, 79 Fifth Avenue, 240 West 37th Street and 27 East 62nd Street (VNO, Cercone Exterior Restoration, Google Maps)
The 10 largest Manhattan real estate loans recorded in April totaled about $790 million, less than half of March’s total.
Once again, the commercial mortgage-backed securities market produced the month’s largest loan: a refinancing for a Midtown office tower on top of a USPS warehouse. It was also the month’s only loan of more than $100 million.
Here were the borough’s largest real estate loans in April:
1) You’ve got mail | $350 million
Vornado Realty Trust secured a $350 million refinancing for 909 Third Avenue from Citi Real Estate Funding, Bank of America and BMO Harris. The property has a 490,000-square-foot warehouse at its base, which serves as the United States Postal Service’s main mail processing facility in New York City. Major tenants in the office tower include advertising firm IPG DXTRA,
Office space provider Industrious has taken over 23,000 s/f of space at 251 West 30th Street as the company looks to bolster its footprint in New York as the flex space sector looks to lead that office rebound from the coronavirus pandemic.
Industrious is partnering with Resolution Real Estate
Partners LLC to operate three floors of coworking space in the company’s
building 16-story, mixed-use prewar building that were previously occupied by
co-working company, Primary.
The lease is part of a plan to grow Industrious space to
more than 600,000 s/f in the city as employers look for post-pandemic solutions
to their office needs.
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Chetrit to open flex-office location near Penn Station
Flexibility is seen as key to attracting tenants New York / TRD Staff
315 West 35th Street with Isaac Chetrit and DJ Dashti (Google Maps, Linkedin, iStock)
Eli and Isaac Chetrit are joining a growing number of landlords trying to attract tenants by offering more flexibility.
Workville, a flex-office company founded by Isaac Chetrit, Jacob Aini and D.J. Dashti, is opening a 60,000-square-foot location, occupying the entire building at 315 West 35th Street, Crain’s reported. The 14-story building is owned by Eli and Isaac Chetrit as well as Aini, according to public records. Isaac Chetrit and Aini purchased the property for $43 million in 2015.