Expertise-driven hedge fund Two Sigma is available in the market for a serious house enlargement and consolidation that could possibly be value a fortune to a lot of Manhattan landlords.
Though it’s not often within the press, the worldwide, privately held agency boasts $58 billion in property below administration. It’s presently headquartered in a mini-campus at 100 and 101 Sixth Ave. in Tribeca, based on its Web page.
Now, we’re instructed by sources that the setup and flooring plates there now not work for the corporate. With lease expirations looming in 2023, Two Sigma is prowling for bigger new digs — of 400,000 to 600,000 sq. toes — in both the FiDi space or Midtown South. Cushman & Wakefield is alleged to be main the search.
Touchdown Two Sigma could be a breakthrough for a number of older workplace buildings which are both vacant or quickly will likely be. Amongst them: EQ’s 1740 Broadway, Paramount Group’s 60 Wall St., Rudin’s 3 Occasions Sq. and 80 Pine St., RXR’s 5 Occasions Sq. and Nightingale’s 111 Wall St.
Giant blocks are additionally up for grabs at Brookfield’s brand-new Two Manhattan West, Tishman Speyer’s Spiral and L&L Holdings’ 425 Park Ave., in addition to at two fully redesigned towers — Brookfield’s 660 Fifth Ave. and Olayan Group’s 550 Madison Ave.
There’s life finally for the long-planned Alamo Drafthouse cinema complicated at Fosun’s 28 Liberty St. The Texas-based luxurious chain accomplished its chapter sale to Altamont Capital Companions final week and plans to open the FiDi location this fall.
Progress was gradual at 28 Liberty since we first reported Alamo’s 40,000 square-foot lease there again in 2017. Repeated delays have been blamed on building points associated to the tower’s landmark standing.
Nonetheless, the latest stall clearly needed to do with the corporate’s troubled funds after the pandemic shut down film theaters in March of 2020.
Now, as cinemas reopen and Hollywood gears up for main manufacturing once more, Alamo plans to broaden with a number of new theaters round the US, together with one on Staten Island.
The favored Higher East Aspect eatery Flex Mussels will quickly be flexing its muscle mass — and getting extra legroom — when it strikes later this yr from cramped quarters at 174 E. 82 St. to extra spacious digs at 1431 Third Ave., across the nook.
The brand new location was previously Turkish cafe Beyoglu. Flex Mussels proprietor Alexandra Shapiro made the deal by CBRE brokers Gary Trock and Zach Parisi.
Shapiro needed a brand new residence close by for Flex Mussels earlier than the pandemic shutdown final yr. Trock and Parisi noticed a possibility on the Beyoglu location, the place the lease was expiring.
The brand new house has 1,690 sq. toes on the bottom, 1,770 sq. toes on the second flooring and 1,770 extra within the basement — permitting for a lot of extra seats than the present 2,000 sq. toes on East 82nd Road.
As well as, Flex Mussels may have 30 outside seats at its new digs, in contrast with solely eight on the outdated spot. It can reopen on June 8 and transfer within the fourth quarter this yr or the primary quarter of 2022. Flex additionally has an outpost within the West Village.
The menu affords mussels in 22 totally different broths, from traditional French white wine, garlic and herbs to Thai-style curry-coconut broth, lemongrass, kaffir lime, coriander, lime and ginger.
The Occasions Sq. Alliance has a brand new chief: Tom Harris, who served as appearing president after former President Tim Tompkins stepped down in December after 19 years.
It shouldn’t come as a shock. Harris — a 23-year veteran of the NYPD and a graduate of St. Joseph’s Faculty and Marist Faculty — has spent 13 years on the Alliance. Nonetheless, a search committee led by Alliance board Chairman Eric Rudi spent months on an “exhaustive” seek for Tompkins’ everlasting successor.
With Broadway theaters nonetheless darkish and places of work largely empty at the same time as vacationers return, the alliance faces presumably the hardest problem of all the town’s 76 business-improvement districts.
“Occasions Sq. is .1 p.c of the town landmass and 15 p.c of the town’s economic system.” Harris stated. “We won’t get well from this pandemic till Occasions Sq. recovers.”