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BrooklynRider
February 26th, 2003, 01:07 PM
Closed:

HMV on 42nd Street
Food Court at AMC Theaters
Bar Code
WWF Restaurant
Museum Company

There are also more empty billboards than there have been in years. *

dbhstockton
February 26th, 2003, 01:59 PM
Yeah, One Times Square was looking pretty pathetic last time I saw it. *You could actually see the lame 60's style masonry that was underneath the signs all these years.

dbhstockton
February 26th, 2003, 02:05 PM
Though the food court was in a terrible location, a Museum Company in Times square was probably a bad idea to begin with, * Theme Restaurants were in trouble even before the recession, and night clubs come and go. *I guess HMV was the most surprising, though not really, because Virgin is in a much better location. *The retail on "New" 42nd st. never panned out the way Guilianni intended, methinks.

billyblancoNYC
February 26th, 2003, 03:02 PM
I think the Museum Co. went bankrupt. *They closed most (or all) of their stores, incl. one on 5th Ave.

HMV was also closing stores, including the one on 34 and 6th - now it's a massice Victoria's Secret.

Not too surprised about Bar Code, kitsch video game bar.

Was surprised about WWE, but themes never seem to do well in NYC (kinda nice, not a big fan of chains, etc).

A test will be the new club - Show, supposed to be upscale, Moulin Rouge-like.

It seems that some things are doing well, though - Toys r Us, Blue Fin (in the W), Noche. *

I dunno, I think it was just those places.

I would like to see more "attraction stores" - kinda over the top like Hershey's, T R Us, etc. *Also, more bars, clubs, restaurants. Make it like a party-fell area.

Who knows. *Look at Vegas - went from sleeze to family to party to upscale.

Daniel8ty8
February 26th, 2003, 08:50 PM
The Bar Code closed? I've never been there, but that sign always stood out in my mind...

Eugenius
March 3rd, 2003, 11:28 AM
I was never too keen on the 42nd Street retail. *A McDonalds? A cybercafe? I don't think this is the stuff that dreams are made of. *New York has always stood out for the unique stores that are one-off deals, and for flagship ultra-luxury boutiques. *Not flashy mid-market chains.

Fabb
March 5th, 2003, 04:53 PM
NY is just getting ready for its rebirth.

Agglomeration
March 6th, 2003, 12:38 AM
"NY is just getting ready for its rebirth."

Well, so is both Times Square and Lower Manhattan.

ZippyTheChimp
March 6th, 2003, 08:57 AM
No long term trend here.
Just tough times that will turn around.

billyblancoNYC
March 6th, 2003, 09:49 AM
I kinda agree with the "rebirth" of TS, in a way. *They just had an article saying how Charley O's is going to close to be replaced by a more upscale place, fitting in with the new TS.

enzo
March 13th, 2003, 10:12 PM
The best part of Barcode was the sign (I hope they keep it), once inside though it was quite lame game-wise (and ridiculously expensive). WWE was quite nice inside (went to a rave there) but seriously, who needs a "wrestling themed" restaurant? HMV as mentioned above has closed stores all over the city. The one on 86th and Lex is being turned into a Best Buy which personally I couldn't be more happy about!

The Brain
March 14th, 2003, 07:42 PM
The rebirth of 42st betwn 7th/8th was an Ed Koch / Mario Cuomo phenomina. Not Sir Rudys. Although the vision of a sanitized, Disney type mall, widwest shoppers delight sure to mesmerize all the nice Eurotrash visitors was probobly shared by his excellency.

bo
March 28th, 2003, 10:05 AM
Dear "Brain" -

You know nothing, and are probably a suburban transplant. Giuliani is the best thing that eber happened to this city. You NEED an abrasive brush to clean a toilet, you follow?

Fabb
March 28th, 2003, 02:07 PM
Quote: from The Brain on 7:42 pm on Mar. 14, 2003
Although the vision of a sanitized, Disney type mall, widwest shoppers delight sure to mesmerize all the nice Eurotrash visitors was probobly shared by his excellency.


I'm shocked.
But it's partially true.

Kris
April 9th, 2004, 07:30 PM
April 11, 2004

COMMERCIAL PROPERTY | MIDTOWN

For Retailers, Times Square Has Its Glitter Back

By JOHN HOLUSHA

http://graphics7.nytimes.com/images/2004/04/11/realestate/comp.184.1.650.jpg
The Red Lobster at 41st Street and Seventh Avenue is the chain's busiest new restaurant, a spokesman said.

TIMES SQUARE is back, big time, in terms of retail sales and rental rates, brokers and other real estate executives say.

A recent deal by Fleet Bank to lease 5,200 square feet of ground-floor space in the building at 1515 Broadway, between 44th and 45th Streets, produced a rent of $515 a square foot annually, according to executives with knowledge of the deal. That puts Times Square space almost in the same league as the gold coasts of Manhattan retailing, Fifth and Madison Avenues in the 50's and Madison in the 60's.

Executives say that a combination of renewed tourism, increased night life and the presence of thousands of office workers in the new towers that have been built in the last decade have created larger-than-expected retail demand. This is a far cry from the 1980's, when the area was most noted for X-rated entertainment, pinball parlors and phony-identification shops and when the sidewalks were infested with three-card monte players and other con artists.

"This is an area that is alive seven days a week, 18 hours a day," said David A. Green, an executive vice president of CB Richard Ellis, a brokerage and services company. He said he had helped bring retail tenants to the two towers developed by Boston Properties: 5 Times Square, on the west side of Seventh Avenue between 42nd and 41st Streets, and Times Square Tower, across Seventh Avenue from 5 Times Square.

He said some retailers had been lured to the area by the possibility of attracting publicity to their brand in background shots of ABC television and MTV, which both have broadcast studios in the area, and the New Year's Eve celebration, which the Times Square Alliance estimates is watched on television by 500 million people worldwide.

But he said many had been very pleasantly surprised by the numbers of people who had eaten in their restaurants or shopped in their stores. "The Red Lobster at 41st and Seventh is one of the top-grossing restaurants in the chain," Mr. Green said. A spokesman for Red Lobster, which is based in Orlando, Fla., said the location in Times Square was the busiest new restaurant in the organization. While declining to give sales figures for the Times Square store, the spokesman said the average Red Lobster has sales of $3.7 million annually.

"Times Square and Midtown have come back nicely" from the economic downturn, said Faith H. Consolo, vice chairwoman of Garrick-Aug, a brokerage company specializing in retail space.

But unlike the luxury corridor along Fifth and Madison Avenues where high-income people shop for expensive goods, she said, Times Square is a vibrant mix where it is practical to place a Godiva chocolate store next to one selling sneakers (Athlete's Foot). "Times Square draws people and families of all ages and socioeconomic groups; you can put food and shoes next to each other," Ms. Consolo said. "Nothing is wrong in Times Square."

Robert Selsam, a senior vice president of Boston Properties, said all the retail space at 5 Times Square had been leased, including a new location on 42nd Street east of Seventh Avenue for the Times Square Brewery restaurant, which was previously between Seventh and Broadway, where Times Square Tower now stands. "We had to shut them down to build," he said.

Marketing of the retail space in Times Square Tower is just getting under way, he said, since construction shielding is being removed. "You could not see the space until last week," he said.

Times Square Tower will have three levels of retail space: the ground floor and one level above and below. Although ground-floor space may be in the $500-a-square-foot range, lower rents for the less desirable second-floor and below-ground space results in a lowered average rent. "Most of the deals I have seen have been in the $300-to-$350-a-square-foot range," Ms. Consolo said.

Even so, retail rents are higher than for office space, particularly on a second floor or in a basement, and Mr. Selsam said he wanted multilevel restaurants and stores in the building. "One could have the street and go up, another could have the street and go down," he said.

Another hot retail property in the area, generally defined as the "bow tie" where Broadway and Seventh Avenue cross, is Quiksilver, which sells surfing-themed clothing and other items.

Surfing in Times Square?

"It appeals to anyone who has been on a snowboard or skateboard as well," said John J. Gilbert, executive vice president of Rudin Management, which manages 3 Times Square at the northwest corner of Seventh Avenue and 42nd Street, where the store is. "They are looking for a type of lifestyle."

And if the buttoned-down executives in the tower above are not interested in dressing like surfers, their children may be. "There is a big teenage market there," said Benjamin Fox, a partner in Newmark New Spectrum, a retail-oriented brokerage company. He said the heavy pedestrian flows in Times Square (the alliance estimates 1.5 million people a day) and the store's prominent corner location drew customers. "It is the old question of whether you want to pay expensive rent or buy expensive advertising, to get the brand name out," he said.

Michael Hirschfeld, of the Urban Retail Real Estate Development Group of Westport, Conn., who represented Australia-based Quiksilver in talks for the location, said: "Things are flying out the door. The store is close to doing 100 percent better than the first-year forecast."

He said the store had different product lines for boys and girls as well as adult men and women. "It fits the kind of people who go to Times Square," he said. "The whole family can shop there."

Times Square was always a desirable retail location because of its position at the hub of transportation, Mr. Fox said, until it started to seriously deteriorate in the late 1970's. Even afterward, he said, "there was a sizable office population in the area in dire need of retail services."

He said that when he helped place a Gap store at the southeast corner of Broadway and 42nd in 1993 — before the area's redevelopment began — sales were so brisk that the store expanded within months.

Now, after a redevelopment program that demolished most of the old buildings in the area and replaced them with $3 billion to $4 billion in new construction, ground-floor rents of $500 a square foot demonstrate the location's appeal, Mr. Fox said.

There is retail space available in the Times Square area, Mr. Green said, "but most of it has a story."

A story, in real estate parlance, can mean a marketing difficulty because of the configuration of the space, its size or other problems. For example, the triangular building at One Times Square that most recently housed a Warner Brothers Studio store on its ground floor, now stands vacant except for the huge outdoor signs that provide most of its income.

The signs block most of the windows on the upper floors, making them even more unsuitable for office tenants than the basic layout dictates.

Nevertheless, Richard Hodos, president of Madison HGCD, a retail broker who represents the building, said he was talking to an apparel maker who was interested in renting the ground floor for a store if he could lease the upper floors to tenants who did not want windows, like operators of textile showrooms.

But a landlord with a 3,000-square-foot space and no story should have little difficulty finding a tenant even if he is asking $500 a square foot, said Mr. Green, who added, "The rents are sustainable because the business is there."

Copyright 2004 The New York Times Company

Pottebaum
April 9th, 2004, 07:43 PM
Welcome back, Times Square! It's amazing how much has changed since the first post in this thread was made. :D

Are the vacant spaces that the stores mentioned in the first post were in filling up?

krulltime
April 9th, 2004, 11:25 PM
Yeah...what a great story for Times Square! :D

It just turn 100...Happy Birthday Times Square!!!

Ninjahedge
April 12th, 2004, 09:59 AM
The best part of Barcode was the sign (I hope they keep it), once inside though it was quite lame game-wise (and ridiculously expensive). WWE was quite nice inside (went to a rave there) but seriously, who needs a "wrestling themed" restaurant? HMV as mentioned above has closed stores all over the city. The one on 86th and Lex is being turned into a Best Buy which personally I couldn't be more happy about!

Agreed on the Wrestling theme.

Also, be careful about Worst Buy, it does not offer nearly as good a deal as you think....

krulltime
April 18th, 2004, 07:12 PM
From the NYPOST:

April 18, 2004

You could soon be calling it "Times Square Warner."

The growth of Times Square to the north and the southward revitalization from the rejuvenated Columbus Circle is expected to meet somewhere on Broadway to create one of the hottest retail and entertainment corridors in the world.

"In addition to the Time Warner Center serving as an anchor to the north, and Times Square to the South, there has also been a tremendous resurgence in activity around Broadway and Seventh Avenue in the 50s," says Newmark's Jeffrey Roseman, one of Manhattan's top retail brokers.
In less than 10 years, the heart of Manhattan has transformed from the city's most crime-ridden blocks of boarded-up buildings, sex shops, T-shirt stores, drug dealers and prostitututes to the new home of such wholesome ventures as Toys 'R' Us and the flagship Red Lobster eatery.
There's even a bank going in underneath MTV that will be more "youth oriented."

"Right now Times Square is by far the most sought out retail market in New York City," Roseman said. "More so than SoHo, Union Square, and Madison and Fifth Avenues. Practically every chain you can think of is looking for a store there now."

And it's not just the retail chains that are making the move.
Following the lead of ABC, Conde Nast, Reuters and ESPN, businesses large and small are quickly gobbling up the 10 million square feet of new office space, bringing the total to over 25 million feet of office space in the billboard bastion.

According to sources, hip clothier Ecko is about to sign a lease on W. 42nd street. Other clothing stores expected to open in the area include H&M and Urban Outfitters.

Entertainment companies such as House of Blues and Ripley's Believe it or Not will eventually set up shop close to BB Kings and Madame Tussaud's wax museum.

Perhaps the biggest change in the past few years is the proliferation of upscale dining venues, a trend which began with restaurateur Steve Hanson's Blue Fin eatery in the W Hotel and David Emil's nearby Noche, and has culminated at the Time Warner Center, which may house several of the city's best restaurants. Restaurateurs Marc Packer and Guiseppe Cipriani are planning to open a supper club on 42nd St. Further up Broadway, the first West Side Serafina restaurant is expected to open this year. The latest word has Restaurant Associates, Philadelphia's Steven Starr, TV chef Bobby Flay and ARC restaurants all looking in the new corridor.

"Basically, there will be something for everyone," says Roseman. Just like Times Square has always been.

Ninjahedge
April 19th, 2004, 01:57 PM
A bank that appeals to youngsters?

What the hell are they smoking?

Pottebaum
April 19th, 2004, 05:32 PM
Maybe they'll play rap music in the lobby :wink:

Ninjahedge
April 19th, 2004, 06:01 PM
Have that dancing machine videogame set up as the ATM.

In order to withdraw:

left left
left right
front front
back back.....

TLOZ Link5
April 19th, 2004, 11:26 PM
Have that dancing machine videogame set up as the ATM.

In order to withdraw:

left left
left right
front front
back back.....

Dance Dance Revolution (DDR)? I would so open an account at that bank :mrgreen:

krulltime
July 19th, 2004, 08:39 PM
Hip-Hop Store to Open in Times Square Theater


By CHARLES V. BAGLI
Published: July 15, 2004

After years of near misses with proposed theme restaurants and TV studios, the long-dormant Times Square Theater on 42nd Street finally has a tenant: Ecko Unlimited, the high-flying hip-hop clothing and lifestyle company.

The 84-year-old theater, which is on the north side of the street, between Seventh and Eighth Avenues, and features a three-story, 100-foot-long Doric colonnade, is the last of eight historic theaters on 42nd Street to find new life as a result of the 22-year effort to revitalize Times Square. Many of the others are once again home to theatrical productions. But Ecko says it plans to transform the theater into a four-level, $25 million supermarket of what is cool and fashionable in clothing, art, video games, electronics and collectible sneakers for the urban youth market.

"When you think of what's trendy, this is where you're going to be able to find it," Seth Gerszberg, president of Marc Ecko Enterprises, the parent company, said yesterday. "We needed to be in Times Square, where youth culture converges. Finding this place was just meant to be."

Ecko will keep many of the building's historic features, from the 25-foot-high proscenium arch over the stage to the ornamental plasterwork and the domed ceiling.

The theater was built in 1920 by the Selwyn brothers and was home to a string of major theatrical hits - "Gentlemen Prefer Blondes," "The Front Page," "Strike Up the Band" and "Private Lives" - between 1926 and 1933. Legend has it that Tallulah Bankhead bankrolled the theater's last stage production, which flopped. By the 1940's, there was a retail store built on the stage, with its doors on 42nd Street. In the 1980's, the theater showed kung-fu movies.

The state later took control of the property as part of the 42nd Street redevelopment project. But even after the nearby New Victory Theater was renovated and Disney took over the landmark New Amsterdam Theater across 42nd Street, the Times Square remained dark and grimy-faced. At one point or another, Marvel Enterprises wanted to build a theme restaurant with Spider-Man crawling up the side of the building, CBS considered relocating its morning show there, and Livent, MTV, Billboard and Viacom considered live productions. But the deals always fell apart.

Cora Cahan, president of the New 42nd Street, the nonprofit group that oversees seven of the eight historic theaters, said her group had been talking with two prospective tenants when Ecko came along last year. A lease was signed last week, and Ecko hopes to open in early 2006.

"We reversed field, because of their passion and what it was they wanted to do," she said of Ecko. "We've always said diversity of uses on the block was the key to revitalization. For me, the spirit with which they approached the street and the theater was irresistible."


Copyright 2004 The New York Times Company

Ninjahedge
July 20th, 2004, 08:45 AM
"it plans to transform the theater into a four-level, $25 million supermarket "

Great. A boo-yah minimart. Does anyone here get the feeling that they are going to be building up into the open space of the theater? they may be preserving set peices here and there, but I see them putting in extra levels and all sorts of stuff.

Better this than destruction. But not much.

TLOZ Link5
July 22nd, 2004, 01:49 AM
Ecko is definitely a step upward for Times Square. Besides, it could have been K-Mart.

krulltime
July 26th, 2004, 07:29 PM
The 84-year-old theater on 42nd Street:

http://www.pbase.com/image/31836531.jpg

BigMac
November 3rd, 2004, 02:33 AM
New York Times
November 3, 2004

REGIONAL MARKET / MIDTOWN MANHATTAN

Sleaze-Free Times Square as a New Financial Center

By JOHN HOLUSHA

http://graphics7.nytimes.com/images/2004/11/03/business/03real.jpg
Jeffrey Peck, left, of Newmark & Company, and David Gershon, chief at SuperDerivatives, in Mr. Gershon's conference room at 7 Times Square.

Times Square, a once-seedy area that was rife with crime and lowbrow entertainment, has been transformed over the last decade not just into a destination for tourists and shoppers but also a home for companies seeking office space. Increasingly, this includes financial businesses that might previously have set up shop downtown in the financial district.

Among recent arrivals, an executive of a company that combines high technology with high finance said he chose the neighborhood because locating there conveys the idea of "an aggressive, fast-moving" operation. The head of another company, SuperDerivatives, which establishes the values of currency options contracts, said the location suggested his company was "very successful."

"Financial firms like to be near other financial firms," said David Gershon, chief executive of SuperDerivatives, from his corner office on the 35th floor of Times Square Tower, a new skyscraper on a block running from Broadway to Seventh Avenue and from 41st to 42nd Streets. " Morgan Stanley and Lehman Brothers, both clients, are just up the street; Reuters and Ernst & Young are right here; and there have to be 20 banks within walking distance."

The 1.2-million-square-foot building was developed by Boston Properties and opened in April. Officials of the company say it is 79 percent full, despite the demise of Arthur Andersen, the accounting firm that was to be the anchor tenant.

The building, also known as 7 Times Square, is the last of four skyscrapers that are part of the renewal of 42nd Street's intersection with Seventh Avenue and Broadway. Another accounting firm, Ernst & Young, occupies the entire building directly across Seventh Avenue, 5 Times Square, which was also developed by Boston Properties.

The northwest corner is 3 Times Square; it was jointly developed by the Rudin family and Reuters, the news and financial data company. Between 42nd and 43rd Streets on Broadway, 4 Times Square was developed by the Durst Organization and is known as the Condé Nast Building for the publishing company that is its principal tenant.

Most of the rest of the Condé Nast block, running east to the Avenue of the Americas, is to be occupied by 1 Bryant Park, which will be the biggest of the new towers in the area, a 2.1-million-square-foot building being developed by Durst and Bank of America, the principal tenant.

The new buildings are attractive to financial services companies, which want ultramodern space and do not shrink at rentals around $55 to $65 a square foot annually, said Jeffrey I. Peck, a managing director of Newmark & Company Real Estate.

These rents are roughly double those in the Wall Street area, even before city and state incentives are taken into consideration. Some tenants that have moved to Midtown say the difference could be a powerful lure for companies seeking bargains.

"People can get great prices downtown, and that may change things over time," Mr. Gershon said. "Right now, the cycle is trending more toward Midtown, and that may take a few years to reverse."

Mr. Peck, who recently brokered the SuperDerivatives lease and a 5,000-square-foot deal for a finance-related company in Times Square Tower, said some smaller companies were attracted to the prebuilt office suites available in some buildings. Taking space that is already finished means they can set up operations in weeks, rather than the months needed for finishing off raw space.

He said they were also attracted by the high-speed elevators and wireless Internet connections, or Wi-Fi, available in some new buildings.

The elevator system at Times Square Tower, for example, aims to minimize waiting time. After passing through security in the lobby, all visitors go by elevator to a sky lobby on the fifth floor. There, they face three banks of elevators, for the low-, mid- and high-rise sections of the 47- story building.

At the entrance to each bank, there is a keypad, where a visitor can punch in the desired floor. A light and a sound indicate which car will be first to go to that floor. Building managers say the system moves people to their destinations 25 percent faster than conventional elevators.

Kevin Gould, an executive vice president of Mark-It Partners, mentions the elevator speed as one of the building's advantages. He said the company recently made two acquisitions and the new site allowed it to consolidate all its United States operations in one place.

The company is moving into prebuilt space, but the appearance on a recent visit was one of controlled confusion, with workers adding finishing touches and meetings being held in a circle of chairs because the conference table had not yet arrived.

Mr. Gould said Mark-It had grown to more than 300 clients in three and a half years and was still growing. It serves financial companies by collecting their trading data on bonds and other instruments and accounting for their value, or "marking it to market" - hence the name.

"We looked at two spaces," he continued, "and took this on quickly because it is close to the banks and things like the hedge funds on Park Avenue." Mr. Gould said the convergence of subway lines at Times Square was another reason for choosing the location. "If we have to go to Wall Street," he said, "we can get there pretty quickly."

He said that from personal experience, he felt certain the area was growing into a financial center. "A month ago we signed a big contract with a hedge fund," he added, "and now they are opening offices down the hall."

Mr. Gould is aware of Times Square's onetime image, but considers that ancient history. "It was not even a consideration in our decision," he said.

Copyright 2004 The New York Times Company

krulltime
May 23rd, 2005, 04:16 PM
RIPLEY COLLAPSE


http://nypost.com/photos/bizlede05232005.jpg
BAR NONE: Ripley's franchisee failed to put up a security
deposit on the $2.4 million annual rent. Now, the Bar Code space
in the Bertelsmann building is up for grabs.
Photo: N.Y. Post: David Rentas


By STEVE CUOZZO

May 23, 2005 -- Believe it or not, Ripley's Believe It or Not! Museum is not coming to Times Square — despite an expansive New York Times story claiming the deal was done.

The signed commitment for a giant, three-level space at 1540 Broadway, the Bertelsmann building, cratered when the Ripley's franchisee failed to put up a security deposit on the $2.4 million annual rent.

The stunning collapse leaves a yawning black hole in the retail frontage of the Bertelsmann building, designed by Freedom Tower architect David Childs and now owned by Germany's Paramount Group. The building is between 45th and 46th streets.

Other Times Square entertainment venues have flopped — such as the Bar Code video arcade — where the Ripley's museum was supposed to open.

Last Nov. 14, the Times real estate section devoted a half page to the news that Orlando, Fla.-based Ripley's Entertainment was coming to the glittering, family-friendly "new" Times Square.

Prominent retail broker Robert K. Futterman said the 22,365 square-foot Ripley's — joining 28 outposts worldwide — would open this year. Paramount Group CEO Albert P. Behler said Ripley's was "just the right tenant" for the prime space next to the Virgin Megastore.

But Ripley's franchisee, known as Museum on Broadway LLC, "never came to the table," said Jeffrey Roseman, part of a crack Newmark team that's now marketing the space for Paramount. "A deal never should have been announced."

Roseman is now asking even more — $3 million a year — for the space on one of the world's most heavily-trafficked pedestrian venues.

Paramount bought 1540 Broadway from Bertelsmann last summer for $426.5 million. Some insiders speculated that Paramount might prefer a different tenant than Ripley's, whose exhibits include shrunken heads and taxidermied two-headed cows.

But Behler told The Post the deal fell through only because "the franchisee was unable to post the required security deposit, so we exercised our right to terminate the lease."

Futterman termed the breakdown "unbelievable. The landlord is taking a hard line."

He added, "My view is that Ripley's still wants to do the deal by bringing in another franchisee."

Asked to comment on that, Roseman said, "Believe it or not! — That's what he should have said at the end of that quote."

A different retail broker said a new lease for Ripley's was unlikely: "Paramount reached out to Ripley's months ago to fix this, but the company never did."

Times Square Alliance President Tim Tompkins said while "any deal falling through is a problem, we're excited that this offers an opporutunity to meet some of the untapped retail needs in the area, particularly those that cater to people who work there."

A call to Ripley's President Robert Masterson was not returned. No listing could be found for Museum on Broadway, Ripley's franchisee.



Copyright 2005 NYP Holdings, Inc.

ZippyTheChimp
May 23rd, 2005, 07:05 PM
Some insiders speculated that Paramount might prefer a different tenant than Ripley's, whose exhibits include shrunken heads and taxidermied two-headed cows.

Times Square needs more of this, and less of Mickey.

krulltime
June 2nd, 2005, 03:38 AM
Group Takes Aim at Times Sq. Congestion


http://graphics8.nytimes.com/images/2005/06/02/nyregion/02walk_lg.jpg
The Times Square Alliance is considering ways to reduce the area's "pedlock," or pedestrian gridlock.

By THOMAS J. LUECK
Published: June 2, 2005

With the sidewalks and avenues of Times Square overwhelmed by a crush of pedestrians, cars and trucks, the neighborhood's business improvement district, the Times Square Alliance, offered a package of ideas yesterday aimed at reducing what it said would be an increasingly tight squeeze.

Its proposals, most of which would require money and regulatory approvals from the city, include an expansion of sidewalk space by rerouting vehicular traffic through the square's bowtie, where Broadway and Seventh Avenue crisscross between 44th and 45th Streets. Instead of crossing, the two avenues would become parallel arteries through the square.

Traffic signal timing could be altered to increase the flow of pedestrians crossing the square's avenues and traffic islands, the group said. And, in projects for which city funds have already been approved, the group said pedestrian movement would be improved by replacing the TKTS kiosk at Duffy Square, and by permanently expanding sidewalks to the temporary boundaries that have already been delineated by paint stripes or other measures.

"We are dealing with pedlock," said Tim Tompkins, the president of the alliance, using a term to describe the pedestrian gridlock.

The group, which has already documented a soaring rise in traffic on Times Square's sidewalks, said the congestion would become far worse with the construction of several new corporate high-rises planned for the neighborhood.

Its proposals also included ideas to improve the design of street furniture, accommodate public art and better coordinate events that are broadcast from Times Square. They were presented at a forum at the Reuters headquarters at Seventh Avenue and 43rd Street, where the group was joined by the head of the Central London Partnership, a group with similar goals for central London.

While providing only a rough blueprint, the alliance's proposals underscore how its objectives have shifted since it was formed by property owners in 1992, charged mainly with combating crime and urban blight. Now, Mr. Tompkins said, the congestion has displaced all other problems facing Times Square.

And the group's joint forum reflected an expanding network of ideas and experience that are being shared by urban planners and neighborhood groups around the world.

"Your success in Times Square is legendary, the stuff of dinner-party conversations in London," said Patricia Brown, the chief executive of the London group, which she said had benefited from the experience of the alliance and from work done in the urban cores of other European cities.

The most ambitious proposal to improve pedestrian traffic in Times Square would involve enlarging the islands between Broadway and Seventh Avenue. It said pedestrian space could be enlarged by more than 50 percent if the two small islands between 44th and 45th Streets were replaced with a bigger single island, and if crosswalks between all the islands were improved to create a pedestrian passageway running north and south from West 42nd Street to West 47th Street.

The group also offered ideas to improve the street-level appearance of Times Square, and it said that technological improvements should be made in the square so it is "wired" for large-scale broadcast events, reducing the number of vehicles and other equipment in the already congested crossroads.


Copyright 2005 The New York Times Company

Fabrizio
June 2nd, 2005, 05:56 AM
And they must ban any new construction in the area of buildings (residential/hotel/office) with parking garages.

kliq6
June 2nd, 2005, 09:59 AM
Fab may i ask if your against building, why do you coem to this site??

Fabrizio
June 2nd, 2005, 10:48 AM
Fab may i ask if your against building, why do you coem to this site??

Kliq : will you please show me were I have written that I am against building?

The above article opens with the quote: " With the sidewalks and avenues of Times Square overwhelmed by a crush of pedestrians, cars and trucks, the neighborhood's business improvement district, the Times Square Alliance, offered a package of ideas yesterday aimed at reducing what it said would be an increasingly tight squeeze".

To the ideas presented in the article, I feel they should:

"...ban any new construction in the area of buildings (residential/hotel/office) with parking garages".

If you want to lessen traffic, encourage the use of public transportation and don´t build new buildings with on site parking.

Is that clear?

kliq6
June 2nd, 2005, 11:05 AM
A hotel developer wont build a hotel without parking, hotel major money is there convention spaces, are you going to tell a convention cleint they cant park on the premises?

Fabrizio
June 2nd, 2005, 11:24 AM
A hotel developer wont build a hotel without parking, hotel major money is there convention spaces, are you going to tell a convention cleint they cant park on the premises?

Of the three category of buildings I mention, (office,residential and hotel) you are right ...the hotel category will be a sticking point. I feel however that with residential and office buildings there is no question.

As far as hotels go: offer creative solutions in tandem with the city... parking garages in other parts of the city... shuttle buses... I don´t know. And the fact is, there are plenty of great hotels in NYC without on-site parking.

If the goal is to keep TSquare less congested and maintain a vibrant (and why not pleasant) street life, then let´s encourage public transportation. Manhattan is´t LA or Dallas ...and let´s be thankful for the difference.

krulltime
June 2nd, 2005, 12:23 PM
A solution to Times Square congestion?


BY PRADNYA JOSHI
STAFF WRITER
June 1, 2005, 9:15 PM EDT

Day or night, they flock by the thousands.

Every Times Square tourist, resident, employee and passerby knows the gridlock well.

Now, just in time for tourist season, a group of civic, nonprofit and business-improvement organizations are proposing solutions to ease congestion.

"While Times Square is gorgeous from the neck up, it needs a makeover from the neck down," said Times Square Alliance president Tim Tompkins, in a report released last night by the alliance, the nonprofit organization set up in 1992 to improve the district. The streetscape "is ordinary at best, ugly at worst."

Times Square has long been the nexus of New York -- and the nexus of the world for special events -- but the gritty streets of Broadway during the seedy decades hardly had this problem.

With much of the prostitution pushed aside, a 69 percent drop in crime since 1993, the "Disneyfication" of the theater district and other improvements, more people than ever are visiting, living near and working around Times Square. It's a good problem to have -- but it's still a problem.

"Compared to the kinds of problems we had 10 years ago where 42nd Street was the most dangerous block in the city, this is a cakewalk," Tompkins said in an interview.

In fact, so many people are coming these days that they are spilling into the streets, creating accidents and safety problems. Furthermore, in response to terrorism, concrete blockades and other obstacles have been plunked down in front of buildings to foil truck bombs and minimize other hazards.

Certainly, radical solutions such as cutting off vehicular traffic and limiting street performers have long been proposed, but are they would all take away from the quintessential hustle of the place, Tompkins said.

But the wall-to-wall sea of people is taking its toll. The street vendors, performance artists, naked cowboys, Black Israelite street preachers and others further pack in more congestion than the sidewalks can bear.

Among the solutions outlined in the new report: Permanently extend the sidewalks on key avenues to increase space by 53 percent; eliminate the ability of cars to "cross over" where Broadway and Seventh Avenue intersect; and add high-tech equipment underground so that media satellite trucks don't mob the streets during special events.

A key part of the changes will be to expand and rebuild Duffy Square, the central island that's home to the discount-ticket booth TKTS, and make it a dazzling centerpiece for pedestrians, artists and other visitors. Construction is now expected to start early next year.

The swarms are predicted to worsen as new corporate office towers open. Following the opening of new headquarters for Condé Nast, Reuters and Ernst & Young are the Bank of America building just a block down 42nd Street and the gleaming New York Times headquarters, which will open in 2007 close to the Port Authority terminal.

Already, West 42nd Street has seen a 45 percent increase in foot traffic since 1999, and the numbers are expected to nearly double by 2020, the report noted. And already 6 million square feet of new office space has been added since 1996, and 10 million more is projected in the next 15 years.

"There's not enough space for their employees to walk on the streets; there's so much competition for the space there is now," said Tresa Horney, campaign coordinator for Transportation Alternatives, a nonprofit group that advocates cycling and walking.

"The more pedestrian-friendly their space is, the more their space is worth," she said.

Many of these ideas are still being studied, so there are no projects yet. But Tompkins emphasized that city and state officials are very supportive of the ideas and many have already earmarked money for street improvements.

Although the renovation of Duffy Square has been long delayed, Tompkins said many of the other proposals have the support of the city and could move forward quickly.

For the new study, the Times Square Alliance collaborated with 25 architects, public officials, planners and other parties to discuss problems and solutions.


Copyright © 2005, Newsday, Inc.

krulltime
June 2nd, 2005, 12:40 PM
NYPOST REAL ESTATE:


By STEVE CUOZZO

Besides scouring for a tenant at the former Bar Code space, where a deal for Ripley's Believe It or Not! Museum collapsed, Times Square's Bertelsmann building is also trying to replace the underperforming Loews Cineplex in the tower's basement.

Newmark's Jeffrey Roseman said Bertelsmann's owner, Paramount Group, is asking $2 million a year for the 40,000 square-foot space.

"Loews had tried to sublease it, but now that its lease is coming up, the landlord will have control," Roseman said.

Although the theaters are tucked deep inside the Virgin megastore, Roseman said the space "has great visibility, thanks to the huge sign outside on arguably the best block in Times Square."

Roseman said the offering has drawn interest from various prospects "from sublime to ridiculous" — including retailers, theater groups, music venues and even "bowling users."


Copyright 2005 NYP Holdings, Inc.

NewYorkYankee
June 2nd, 2005, 07:06 PM
In that picture at the top, that taxi looks as if he is about to run into those people!

lofter1
June 17th, 2005, 08:22 PM
The taxi pic is a great example of the #1 problem in Times Square -- drivers who completely ignore traffic signals and end up stuck in the middle of pedestrians crossing (it's not just taxis). What happened to "Don't Block the Box"?

I've never been able to figure out why DOT doesn't try the All Walk concept in major intersections (42nd / 7th & 42nd / 8th are perfect examples) -- red lights for all vehicles and pedestrians X-ing every which way at once.

Another traffic story: I lived in Rome about 10 years ago and traffic there was crazy -- especially double parking. Then one day they increased the parking fines by 10x (from about the equivalant of ~ $50 to ~ $500) and Voila! Double parking pretty much went away immediately in the areas where it caused the most problems.

One of the BEST things about living in NYC is that a private vehicle is not needed -- I gave mine away before I moved to NYC 25 years ago and ever since have not missed being a car owner.

NewYorkYankee
June 18th, 2005, 08:37 PM
Being from TN, a car is pretty much mandatory. I drive 30 minutes to a small town to work everyday. But, when I move to NY this Sept. my car is going up for sale.

krulltime
April 22nd, 2006, 06:23 PM
Condos, New Retail To Be Added to Times Square Mix


By MICHAEL STOLER
April 20, 2006

Change is afoot at Times Square, the city's iconic neighborhood that now covers an area from Sixth Avenue to Ninth Avenue and 39th Street to 52nd Street.

Before the end of the month, Boston Properties, which owns 5 Times Square, is expected to announce the winning bidder for the 37-story, 1.1 million square-foot office tower that is leased to Ernest & Young. The winning bidder is expected to be Dubai-based Istithmar, which last week agreed to pay about $600 million for the 40-story, 905,000-square-foot office tower at 450 Lexington Ave., which is subject to a 99-year land lease, industry sources say. The seller is a joint venture of Murray Hill Properties, Westbrook Partners, and the Canadian pension plan SITQ.

In May 2002, what was then the accounting firm of Arthur Andersen opted out of its agreement to occupy space in Times Square Tower, the 48-story, 1.2 million-square-foot building at 7 Times Square and Broadway. A director at Cushman & Wakefield, Joanne Podell, said, "After more than three years of discussion, Ann Taylor Loft has signed a lease in the Times Square Tower. We expect the store to be profitable due to its location, hours of operation, and viability of retail in Times Square."

Directly across the street is 1466 Broadway, also known as 6 Times Square. The 15-story, 298,000-squarefoot office building, built in 1907, houses a three-level Gap store. In November 2004, SL Green Realty sold the building, built for John Jacob Astor IV, to Sitt Asset Management and Steven Sutton for $160 million. The property, at the corner of 42nd Street and Broadway, was formerly the fashionable Knickerbocker Hotel that counted as its customers celebrities such as George Cohan and Enrico Caruso. The building was renovated into showrooms and offices in 1982. At the time of the purchase, the new owners indicated they had an interest in converting the top floors into a hotel or luxury condos. Trade sources indicate that an investor from the Middle East might be the winning bidder at a price of close to $1,000 a square foot.

***

One of Manhattan's most active investors, the Moinian Group, was part of a joint venture including the Chetrit Group and Edward Minskoff, that in May 2004 paid about $121 million, or $316 a square foot, for the 42-story, 382,000-square-foot office tower at 1450 Broadway and 41st Street. In November 2005, the owners announced plans to convert the top floors of the buildings into residential condominiums. Last month, the Moinian Group and its partner, MacFarlane Partners, opened the sales office for the Atelier, a 46-story, 478-unit condo tower at 635 W. 42nd St. This building is part of the first phase of a 1.5 million-square-foot mixed-use complex. The entire project will occupy most of the city block on the north side of 42nd Street between 11th Avenue and the Hudson River. The second phase will include about 300 residential condominiums and 350 rental apartments at 605 W. 42nd St. and 11th Avenue.

The co-president of the Durst Organization, Douglas Durst, said, "I never expected the Times Square and 42nd Street corridor to evolve as a center of office, retail, and residential." Across the street from 1466 Broadway is 4 Times Square Tower, the 48-story, 1.6 million-square-foot building completed in 1999 by the Durst Organization. The office tower is leased to Conde Nast and the law firm of Skadden, Arps, Slate, Meagher & Flom. Adjacent to the building is One Bryant Park, also known as the Bank of America Tower. The building is being co-developed by the Durst Organization and Bank of America.

Last month, Bank of America committed to occupying an additional 522,000 square feet of space. The deal expands the bank's occupancy to more than 77% of the space from 53%. The bank will lease about 1.63 million square feet of space, leaving about 450,000 square feet available. Mr. Durst said, "I don't think we'll have any trouble getting $100 per square feet at the top of the building. Right now we have at least 10 companies who are interested the space."

***

Last October, Equity Office Properties Trust closed on a $505 million purchase of the 41-story Verizon Building at 1095 Sixth Ave., which is across from the Bank of America Tower. Verizon kept about 200,000 square feet of the building as a condominium. Equity plans to spend about $250 million to renovate the tower. Office space is being marketed for rents of more than $1,000 a square foot.

According to industry sources, the 25-story, 227,000-square-foot Candler Building at 220 W. 42nd St. - at the heart of Times Square and home to a three-level McDonald's - is in contract to be sold. The building was built in 1912-14 as a commission from Asa Candler, a founder of the Coca-Cola Company. West of the Candler Building is the 444-room Hilton Times Square. Last month, Sunstone Hotel Investors paid $242.5 million for that property. The seller was a partnership of Forest City Ratner and Hilton Hotels, who completed the hotel in June 2000.

Contracts for about 97% of the residential condominiums have been sold at the Orion, a development of Extell Investment Management and the Carlyle Group. The 58-story, 551-unit midblock building is at 350 W. 42nd St., west of the former McGraw-Hill Building. Extell Investment Management is assembling a site at 131-139 W. 45th St., directly behind the Muse Hotel on West 46th Street, The New York Sun has been told. It plans to develop a luxury hotel on the site.

Last month, Vornado Realty Trust wrote off $6.87 million it had spent on development costs for a project at the Port Authority Bus Terminal. Vornado had planned to use the air rights of the Port Authority to develop a 39-story tower atop the building on Eighth Avenue from 40th to 42nd streets.

As the Sun reported earlier this month, the Paramount Group has retained Douglas Harmon of Eastdil Secured to sell the 44-story, 1.1 million-square-foot building at 1540 Broadway, Bertelsmann's American headquarters. Based on recent purchases, the property, built in 1990, might fetch $1.1 million, or $1,000 a square foot.

A 46-story, 250-unit residential condo tower is planned for the northwest corner of Eighth Avenue and 46th Street, with addresses of 301-307 W. 46th St. and 733-763 Eighth Ave. The owner, New Jersey-based SJP Properties, originally had planned to construct an 80/20 residential rental at 750 Eighth Ave., on the northwest corner of 46th Street, which was once home to McHale's restaurant. Due to the strength of Times Square real estate, the company has decided to build a luxury residential condominium. SJP is also building a residential condominium at 45 Park Ave., on the site of the former Sheraton Russell.

On the corner of Eighth Avenue and 47th Street, a New York-based development company is planning to construct a 40-story luxury residential condominium. A third tower is planned for West 48th Street and Eighth Avenue.

A combination of factors, including creative tax subsidies and demand for more residential and office space in Times Square, has aided in the area's resurgence.


© 2006 The New York Sun, One SL, LLC.

londonlawyer
April 22nd, 2006, 06:49 PM
Thanks for posting this article, Krulltime. I referred to it in another thread.

lesterp4
April 22nd, 2006, 08:46 PM
I wonder why the gaping hole in the ground at 42nd and 8th is not mentioned at all??

lofter1
April 22nd, 2006, 08:59 PM
Because unlike all the others it hasn't changed hands -- just sits there with the dank pond in the center breeding 'skeeters when summer comes around.

lesterp4
April 22nd, 2006, 09:27 PM
Can't the city or the Times Square Development Alliance force Milstein to sell if they aren't going to build on this site?

Peakrate212
April 26th, 2006, 12:29 PM
They could use condemnation, like they did at the new NY Times site. The site was not included in the original condemnation of the 42nd street between 7th and 8th......Obviously the Milsteins have friends in high places, even if they are evil to the core.

kliq6
May 3rd, 2006, 11:42 AM
milsetin, as ive mentione din other posts has done this alot, he sat on a sitenear WTC and then on my near the seaport, and had both taken from him thru Eminent. He has not developed anything in the city since 1984 and the state should not have given him the site over Durst in the first place

pianoman11686
June 3rd, 2006, 11:16 PM
Times Square sees retail rent spike

Residential building boom, new Times headquarters drive up store rents on 42nd Street

By Lauren Elkies

Landlords at the bottom of the crossroads of the world are seeing persistence pay off.

Retail rents at the south end of Times Square, on 42nd Street between Eights and Sixth avenues, saw the largest average increase in the entire city in March, hitting $290 a square foot, a nearly 86 percent jump from last year. That gain was far ahead of average ground-floor retail rents along Manhattan's major retail corridors, which climbed a more modest, but still impressive, 19 percent last year, hitting an average of $329 a square foot, according to the Real Estate Board of New York.

A boom in luxury residential building in the area -- with buyers paying as much as $1,000 a square foot -- is pulling business in its wake.

"That is driving the commercial prices," said Neal Sroka, senior vice president of Corcoran Group Marketing.

The New York Times' new headquarters building on Eighth Avenue between 40th and 41st streets is also giving a lift to an area that's seen its share of ups and downs.

"It's become one of the most important thoroughfares in the country," said Faith Hope Consolo, chairman of the retail leasing and sales division at Prudential Douglas Elliman in Manhattan. "The demand is so high now that it's driven the rents off the charts."

Well known, high-end stores, luxury residential and office buildings, mobs of tourists, a dramatic drop in crime, and a revamped Bryant Park have turned the onetime locus of urban decay into a trendy dining and shopping Mecca.

Modern-day Times Square is home to Junior's Restaurant, Dallas BBQ, Brooklyn Diner, Godiva, Häagen-Dazs, Dave & Buster's, Econo Lodge, Aerosoles, Ecko Unlimited, and Ann Taylor Loft -- some already there and others on the way.

"Retail space is tight everywhere in Manhattan so that creates an opportunity for an up and coming area like Times Square," said Ellen Goldstein, vice president of policy, planning and design at the Times Square Alliance, the business improvement district.

Major retailers and restaurateurs -- including a white tablecloth restaurant -- are even moving to the Port Authority of New York and New Jersey, adding to the bus terminal's 38 existing retail, food, and beverage tenants.

Other Port Authority tenants are sprucing up their existing spaces. While the terminal's food and retail tenants used to rely solely on commuters, "more and more we're diversifying our constituent base," to include residents and office workers, said Frank DiMola, director of real estate for the Port Authority.

Over the last decade, 5,500 new residential units were added to the Times Square residential stock. "You have a very different consumer population moving into the area," said Ellen Goldstein, vice president of policy, planning, and design for the Times Square Alliance, a business improvement district.

Office towers are bringing 160,000 white-collar workers into the neighborhood each day, and the Times building will bring more, Goldstein said.

"We want our new building to be a dynamic presence that enhances the beauty of New York City for residents and visitors alike," Catherine Mathis, the vice president of corporate communications for The New York Times Company, said via e-mail. Retailers hope to meet the demands of the new demographic.

And then there are the tourists, who are coming to Times Square in droves. "The retailers see that and they want to be a part of it," said Cory Zelnik, president of Winick Realty Group, which specializes in commercial real estate. According to the Times Square Information Center, the number of tourists in the area climbed to 1.8 million in 2005; in 1999, it was around 1 million. The information center only tracks the number of visitors to the center.

The owners of Junior's Restaurant, the famous cheesecake business, say 42nd Street may actually be too busy. They hope to capitalize on the traffic of 42nd Street without being overrun by it, and recently moved from their site there. Junior's third-generation owner Alan Rosen, his brother and their father are opening an indoor restaurant, outdoor café, retail bakery and take-out department on 45th Street and Shubert Alley in mid-June.

"I think it's the right space for us," Rosen said. "I think it's going to work." The main thoroughfare "just didn't feel right," Rosen said. "There are so many people on the street it may be intimidating to locals." But at the 45th Street location, which is on the backside of 1515 Broadway, "you can actually walk on the sidewalk," Rosen said.

Times Square is not the crime-infested area it once was. Indeed, major crime dropped to 1,011 incidents in 2005 from 1,753 in 2000, according to the Times Square Alliance.

The revamping of Bryant Park, which spans 40th to 42nd streets from Fifth to Sixth avenues, contributed to the transformation of West 42nd Street. Upon completion of the makeover in 1992, "rents started going through the ceiling," said Dan Biederman, the founder and executive director of Bryant Park Restoration Corporation, a BID. "Then the whole street took off."

Copyright © 2003-2005 The Real Deal.

lofter1
July 19th, 2006, 08:28 PM
Times Square sees retail rent spike


Residential building boom, new Times headquarters drive up store rents on 42nd Street

Modern-day Times Square is home to ... Ecko Unlimited ...

Nothing has happened at the former Times Square Theatre -- slated to be the Ecko flagship store -- for over 18 months since DOB (http://a810-bisweb.nyc.gov/bisweb/JobsQueryByLocationServlet?requestid=1&allbin=1024684&allstrt=WEST+++42+STREET&allnumbhous=217) last issued a permit for this site (that was for the sidewalk shed -- which has been advertising for all these many months that the Ecko store will be "Opening "2006").

No applications or work permits have been filed / issued since November 2004.


This article (http://www.findarticles.com/p/articles/mi_m3601/is_49_50/ai_n6189634) from July 2004 (which announced the lease signing for Ecko at 217 W. 42nd) claims ...
The 30,390 gross s/f, three story space, expected to open in early 2006, will redefine the traditional flagship store mode ...

"Early 2006" has come and gone and yet nothing has happened.


Recent changes at Ecko might move things forward. The Ecko website (http://www.marceckoenterprises.com/mec/pressreleases2.shtml) has a press release from June 2006 that chronicles recent management changes and states that one objective is ...
... the development of its flagship store slated to open in Times Square Spring 2007.


They'll have to work fast to make that happen.

ablarc
July 19th, 2006, 08:49 PM
Retail rents at the south end of Times Square, on 42nd Street between Eights and Sixth avenues, saw the largest average increase in the entire city in March, hitting $290 a square foot, a nearly 86 percent jump from last year. That gain was far ahead of average ground-floor retail rents along Manhattan's major retail corridors, which climbed a more modest, but still impressive, 19 percent last year, hitting an average of $329 a square foot...
Are these figures right or is there a typo? It seems that even after an 89% increase, Times Square rents are below the Manhattan average. Can this be true?

ASchwarz
July 19th, 2006, 09:06 PM
Are these figures right or is there a typo? It seems that even after an 89% increase, Times Square rents are below the Manhattan average. Can this be true?

Apples and Oranges comparison. ALL retail space in Times Square is being compared to STREET LEVEL retail space in Manhattan. Street level is always much more than lower level or 2nd/3rd floor retail.

Rents in Times Square are far above Manhattan averages.

projectsnyc
August 1st, 2006, 07:40 AM
What is going on here?

lofter1
August 1st, 2006, 08:14 AM
^^ More info please ...

Links?

lofter1
September 21st, 2006, 09:57 PM
... the former Times Square Theatre -- slated to be the Ecko flagship store ...

A new sign has gone up on the old Times Square Theatre, soon-to-be-home to the Ecko Flagship Store says:


http://community.eckounltd.com/shopecko/072506/home/ecom_HOME_logo.gif


" Opening Spring 2007 "



A DOB (http://a810-bisweb.nyc.gov/bisweb/JobDetailsServlet?requestid=2&allisn=0001220559&allboroughname=&allnumbhous=&allstrt) Application for Erection of Scaffolding (Approved 4.03.2006) for: "INSTALLATION OF 64' HIGH SCAFFOLD WITH DERBIS NETTING DURING EXCOVATION"


The Application also implies that there will be a new structure going up within the existing theater building.


It states Number of Stories": 20 and "Height": 220'

I've not heard of a larger structure on this site. Those numbers ^^^ could be about transferable air rights (???).

krulltime
November 13th, 2006, 02:21 PM
A SPLASH OF VEGAS IN TIMES SQUARE


By LOIS WEISS
November 13, 2006

A new entertainment-restaurant concept dubbed Spotlight inked a deal for the former Noche space on the corner of 49th Street in Times Square.

The Post has learned the nightspot is the brainchild of a partner in the Pure Nightclub in Las Vegas, one of the hottest clubs in the U.S.

The city's new 22,809-square-foot entertainment emporium will include three high floors above the street level, as well as a penthouse aerie and possibly a rooftop level.

Outside the building, an electronic billboard will show "spotlighted" entertainers and other indoor action.

"It's an awesome concept and a perfect complement to Times Square," said one person familiar with the transaction for 1604 Broadway.

The building is jointly owned by a venture of retail maestro Jeff Sutton and SL Green Realty Trust and was represented by Patrick Smith and Bob Taylor of Staubach.

The tenant was brought in by Robert K. Futterman & Associates. All declined to comment on the deal but CoStar Group data showed an asking rent of $2 million per year for the multilevel space.

Pure Management Group operates the eponymous club at Caesar's Palace where Ivanka Trump held her 25th birthday bash on Oct. 28, the sexy Pussycat Dolls Lounge, as well as Tangerine and Social House at Treasure Island, along with a handful of other Sin City nightspots.


Copyright 2006NYP Holdings, Inc.

stache
November 13th, 2006, 05:50 PM
Outside the building, an electronic billboard will show "spotlighted" entertainers and other indoor action.



Bathroom sex?