Real estate mogul loses eviction battle at Chrysler Building — and is ordered to pay M in back rent
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Real estate mogul loses eviction battle at Chrysler Building — and is ordered to pay $21M in back rent

ByNews Polite

A New York judge on Thursday ordered Chrysler Building tenants to pay their rent to Cooper Union instead of the real estate company that owns the leasehold — and ordered the firm’s mogul Aby Rosen to pay $21 million in back rent to the school. The stinging setback comes after…

Owner of 60 Wall St. makes risky bet with massive 0M revamp
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Owner of 60 Wall St. makes risky bet with massive $250M revamp

ByNews Polite

The struggling Financial District’s brightest hope — and biggest challenge for its owners — is 60 Wall St., the vacant, 1.6 million square-foot tower where Paramount Group launched a marketing and leasing campaign as it completes a $250 million transformation. The 47-story tower developed for JPMorgan in the 1980s more recently belonged…

Desperate office owners are using this conversion trick to make deals
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Desperate office owners are using this conversion trick to make deals

ByNews Polite

What is the owner of a Manhattan office tower to do in the age of work-from-home? Hotel or residential conversions are complex and costly. Building renovations that add amenities in hopes of luring top tenants are expensive and may not even work. But for those left holding the bag, there…

Why office landlords and developers are partnering with NYC’s top chefs
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Why office landlords and developers are partnering with NYC’s top chefs

ByNews Polite

The Howard Hughes Corporation’s recent purchase of a $55 million chunk of Jean-Georges Vongerichten’s global restaurant company made one thing clear: It’s getting harder to tell where the restaurant world ends and the real estate world begins. Although simple-minded pundits blame the closing of every “iconic” bagel shop on greedy…