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November News Roundup

The weather may be getting colder, but the Flatiron District continues to heat up with lots of events and real estate news. Below is our monthly roundup of notable highlights from the district:

  • In a sign of continued economic development, CBRE recently released a report highlighting economic growth in the Flatiron District and NoMad. The Manhattan Retail MarketView report for third quarter 2015 credited the opening of the Ace Hotel at 20 West 29th Street as the spark that lit the retail fuse in NoMad (via Real Estate Weekly).
  • Earlier this year, Porcelanosa, celebrated the grand opening of its NYC showroom on Fifth Avenue at 25th Street in the Flatiron District. A leader in innovation, design, manufacturing, and distribution of luxury tile, kitchen, and bath products, Porcelanosa undertook a complete renovation of the former Commodore Criterion building to create its new US headquarters. Santiago Manent, Porcelanosa’s director of sales and marketing, recalled seeing the building for the first time saying, “Suddenly everybody knew it was right. It’s a very unique building, and it’s between Fifth Avenue and Broadway—two of the most prominent streets in the world.” (via Metropolis Magazine).
  • November saw a couple of high-profile retail transactions. ABS Partners Real Estate secured an 11-year, 12,790 s/f retail lease for Ethan Allen at 915 Broadway. The new store is expected to open by summer 2016 (via Real Estate Weekly). TF Cornerstone recently announced the signing of a long-term 11,000 s/f retail lease with Artisinal Fromagerie Bistro, one of New York City’s top-rated French restaurants, at 387 Park Avenue South. The new restaurant is expected to open its doors in summer 2016 (via Real Estate Weekly).
  • November was another busy month for the BID. On Wednesday, November 18th, the BID and the Van Alen Institute unveiled SOFTlab’s Nova, the winner of the Flatiron Public Plaza Holiday Design Competition that serves as the centerpiece of the BID’s annual holiday programming. SOFTlab’s installation will remain on view through the holidays as part of the BID’s annual “23 Days of Flatiron Cheer” programming (via DNAinfo and TimeOut New York). Also in November, the BID held its annual real estate forum and broker breakfast. The event featured a panel discussion on “The Synergies of Real Estate and Coworking Cultures”, and the BID issued its fifth "Flatiron: Where Then Meets Now" report, which detailed the growth of coworking spaces in the Flatiron District (via Real Estate Weekly and The Real Deal).



Clocktower spring blooms 🌸✨
📸:  <a target="_blank" href="">@mkvisuals_ig</a>
Clocktower spring blooms 🌸✨ 📸: @mkvisuals_ig
3 days ago