Henri Bendel To Close It’s Doors After 123 Years Following Holiday Season

L Brands, the parent company which owns retail icon Henri Bendel, has announced that they will be closing all 23 locations after 123 years. The closings will take place following the 2019 holiday shopping season, giving nostalgic shoppers a last chance to make their purchases from the iconic retailer. The Henri Bendel closing will leave the 86,000 SF 712 Fifth Avenue, which is owned by the Paramount Group, vacant. The lease carries $6.5 million in annual rent commitments and runs through February 28, 2021. L Brands has decided to focus on their larger holdings which include Victoria’s Secret and Bath & Body Works. They initially purchased the retailer in 1985 before expanding to 11 states.

Featured Listing: Once The Most Expensive Listing in NYC, This 834 Fifth Avenue Co-Op Has Relisted With a $20 Million Price Chop

834 Fifth Avenue Unit 7-8A was once the priciest listing in New York City, asking $120 million, before slashing the price to $96 million. Now, the unit is back on the market (listed 9/13/17) for a cool $76 Million. The unit is over 12,000 SF and features 20 rooms including a library, a walk-in safe, chauffeur's room, walk-in wine cellar, formal dining room, and a large master suite complete with a sitting room with a fireplace. The residence also features incredible detail including beautiful hardwood flooring, high ceilings, class original moldings, grand staircase, 2 fireplaces, and a stunning marble and mirror bathroom. The limestone clad 834 Fifth Avenue was built in 1931 and designed by Rosario Candela. The building rises 14-stories and features the highest levels of security, privacy and service. 834 Fifth Avenue is currently listed for $76 million with John Burger and Richard Ziegelasch of Brown Harris Stevens and Larry Kaiser of Berkshire Hathaway HomeServices New York Properties.

Featured Listing: Take an Exclusive Tour of the Fifth Avenue Penthouse in Olympic Tower Asking $16,995,000

A stunningly designed Fifth Avenue penthouse at the luxurious Olympic Tower is currently listed for $16,995,000. The building was designed by Skidmore, Owens and Merrill and was financed by Aristotle Onassis. Located on the 50th and 51st floors, the residence's floor plan features 4 bedrooms and 4.5 bathrooms spread over 4,187 SF. The unit also offers stunning views of Central Park via floor-to-ceiling glass oversized windows, a private elevator, Crestron home automation system, 11' 9" ceilings, a meticulously designed dining room, butler's pantry, a library with a wood burning fireplace, staff quarters, and a lavish master-suite with an en-suite spa style master bathroom with a sauna and massage table. Olympic Tower's five-star amenities and services include 24-hour doorman, concierge, elevators, valet service, gym, and bike room. 641 Fifth Avenue PH1 is currently listed for $16,995,000 with Dina Scheinman of Halstead.

150 Fifth Avenue to Undergo Redevelopment Complete With 2 Story Rooftop Addition

L&L Holding Co. has announced a major redevelopment of Flatirons's 150 Fifth Avenue, an office tower originally completed in 1890. When the redevelopment is complete the updated office building will feature 227,500 SF of office space complete with the addition of a unique, 2 story rooftop complete with a roofdeck. In all, 150 Fifth Avenue features 11 floors of rentable office space with open floorplans. The ground floor features 15,000 SF of rentable space, floors 2-8 feature 23,000 SF of rentable space each, floor 9 features 21,000 SF, before dropping to 16,000 SF and 14,500 SF respectively on 10 and 11. The redevelopment is being designed by Studios Architecture with Higgins Quasebarth & Partners. OC Development Management will be the project manager. Construction is expected to begin in February 2018 and wrap-up late summer 2019. According to TheRealDeal, Mastercard was negotiating with L&L Holding Co. in May 2017 lease the entire building at 150 Fifth Avenue where they reported average rent for office space in the Flatiron District was $72 SF. 150 Fifth Avenue was originally built in 1888 and was completed in 1890, undergoing a major renovation in 2003 and was selected in 2005 as BOMA’s Renovated Building of the Year.

Featured Listing: Fifth Avenue Co-Op with Central Park Views Back on Market for $38 Million

1060 Fifth Avenue 10B is back on the market, this time with a far different asking price. After a $27 million price drop, the unit is now listed for $38 million, down from the original $65 million ask when it came to market last year. The unit was also previously listed in a $74 million combo unit listing with an adjacent unit. 10B is 6 bedroom and 6 bathroom co-op in one of Fifth Avenue's most prominent prewar buildings. Original details were meticulously maintained and the co-op spans 15 rooms including grand dining room, formal living room, and library. The unit features breathtaking views of Central Park that just simply cannot be replicated. 1060 Fifth Avenue is a hyper-exclusive, private co-op that offers residents white glove services including doorman and 24 hour concierge, full service staff, health club, lap pool and basketball court. The building was built in 1929 and designed by J.E.R. Carpenter. 10B is currently listed for $38 million with Dolly Lenz of Dolly Lenz Real Estate, LLC. 

Kushner Companies Explores Bringing Zaha Hadid Skyscraper to 666 Fifth Av

One of the world's premier address', 666 Fifth Avenue has been shrouded with uncertainty as the Kushner Companies look for a large cash infusion to renovate the aging, yet iconic building. Everything from Jared Kushner's new role as a senior top advisor to President Donald Trump to the cashflow issues on the property have caused snags and confusion. Last week it appeared they had struck a deal with Anbang Insurance Group in order to help reconstruct the building into a supertall tower designed by Zaha Hadid, although talks have seemed to stall. Kushner Companies plans to move ahead with their plan to build a Zaha Hadid designed supertall at 666 Fifth Avenue with Anbang on board or not. The new proposed tower would be 1,400 SF tall and would require stripping the current structure down to the inner steel core at points to add an additional 40 floors. The project would include ultra-luxury condos which would sell for up to $6,000 SF, a hotel and over 500,000 SF of retail. Construction is expected to begin in 2019 pending the financing is sorted out and completion could be as early as 2025.