Real Estate News, Information, Data and Insights for New York City Real Estate
Tim Ho Wan Has Closed on 9th Avenue in Hell’s Kitchen
By Manhattan Real Estate Tracker, August 23, 2025
Manhattan Real Estate Tracker, 2025
After eight years, the last day open for the Tim Ho Wan restaurant was August 10, 2025. They will continue to operate at 85 4th Avenue in the East Village. A great article on the closing can be found at W42ST.nyc.
By Manhattan Real Estate Tracker, August 13, 2025
Elephant and Castle Closing in the West Village After 52 Years
After 52 years of operation, the Elephant & Castle restaurant located at 68 Greenwich Avenue will close its doors for good this Sunday, August 17. Dr. George Schwarz started the restaurant in 1973 . Here is a great article on the closing by Eater.
One Times Square Renovation Nearly Complete, Opening Fall 2025
By Manhattan Real Estate Tracker, August 12, 2025
Manhattan Real Estate Tracker, August 11, 2025
The building at One Times Square is located at 1475 Broadway right off West 42nd Street in Times Square. Built in 1904, it was formerly known as the New York Times Building, the New York Times Tower or the Allied Chemical Tower. The building is 25 stories with a relatively small footprint. The tower building was originally built as the headquarters of The New York Times
One Times Square is one of the most valuable advertising venues in the world because of the significant cash generated by its signage. The annual New Year’s Eve “ball drop” is atop of the tower. The building has been owned by Jamestown L.P. since 1997.
The building formerly was the site of Walgreens which closed around 2021. A $500 million renovation of the building began in 2022. The newly renovated building will feature an observation deck, a museum space, and a glass exterior, and is scheduled to be completed in 2025. The website for the new project is onetimessquare.com.
By Manhattan Real Estate Tracker, February 16, 2025
The lot for a delayed residential development in Tribeca has been sold by HAP Investments to the Rabsky Group for $58M.
By Manhattan Real Estate Tracker, December 23, 2024
Party City to Close All Stores
Manhattan Real Estate Tracker has learned that 40-year-old party store retailer Party City will be closing all of its stores in the next few months. Party City operates two stores in Manhattan and eight stores in the five boroughs. Several stores in New Jersey will be closing by the end of February.
Barry Litwin, the company CEO said that the company was hurt by stubbornly high inflation that sent costs soaring and deterred consumers from spending. “It’s really important for you to know that we’ve done everything possible that we could to try to avoid this outcome,” Litwin said. Unfortunately, it’s necessary to commence a wind-down process immediately.”
(Google)
By Manhattan Real Estate Tracker, December 23, 2024
The Container Store Files for Chapter 11 Bankruptcy
Manhattan Real Estate Tracker has learned that the Container Store has filed for Chapter 11 bankruptcy protection. The store at one time had more than 1400 locations and now is down to about 100 locations. There is one store in Manhattan at 629 Sixth Avenue near the Flatiron Building.
The 1970s-founded store of organizing and storage solutions, The Container Store, has declared bankruptcy as a result of growing losses and cash flow issues. At the same time as demand for its products is being strained in a challenging housing market, where skyrocketing prices and high mortgage rates have slowed sales, the Texas company has seen an increase in competition from retailers such as Target and Walmart. The stores will continue to operate as it restructures.
Photo of the Container Store at 629 Sixth Avenue (Google)
By Manhattan Real Estate Tracker, July 26, 2024
Photo: Crains New York Business
Trader Joes is coming to Harlem at 123 West 125th Street. This will be their first store in Harlem. The store is 18,000 sq. ft. in size and the company said that over 100 employees will be hired. The 125th Street corridor has transformed over the past 10 years into an amazing blend of local and national retail stores and restaurants. Neighbors to this new store include Whole Foods, Marshall’s, Old Navy, Shake Shack, McDonald’s, Bath and Body Works, Chipotle, Wingstop and Checkers.
Trader Joe’s was founded in California in 1967 and has grown to 571 stores nationwide. There are now 10 stores in Manhattan.
By Manhattan Real Estate Tracker, July 2, 2024
The lottery for a newly constructed 19-story building at 339 West 38th Street is open until August 19, 2024. The Department of Housing Preservation and Development states that the apartments in this building have washers and dryers. There is also a lounge, outdoor terrace, fitness center, ping pong center, bike storage, tenant storage, and conference center in the building. The building will also have a 24-hour lobby attendant and two package rooms. Tenants will pay for electricity including electric cooking and heating, the rent includes hot water. The eligible household income range is $31,612 to $218,010. More information can be found at the HPD website at Lottery Details -Housing Connect (nyc.gov)
Photos of 339 West 38th Street from HPD
From: Yimby
Image from Google.com.
BY: VANESSA LONDONO 6:30 AM ON SEPTEMBER 24, 2022
Permits have been filed for an 11-story mixed-use building at 489 Ninth Avenue in Manhattan’s Midtown West. Located between West 37th and West 38th Streets, the lot is four blocks from 34th Street-Penn Station subway station, serviced by the A, C, and E trains. Susan Wu of ZD Jasper Realty is listed as the owner behind the applications.
The proposed 120-foot-tall development will yield 63,264 square feet, with 57,250 square feet designated for residential space and 6,013 square feet for commercial space. The building will have 59 residences, most likely condos based on the average unit scope of 970 square feet. The concrete-based structure will also have a cellar and a 30-foot-long rear yard.
Archimaera Architecture is listed as the architect of record.
Demolition permits will likely not be needed as the lot is vacant. An estimated completion date has not been announced.
From ABC News:
For all of modern American history, the movie theater has been a cornerstone of our culture.
It has become a gathering point for families, friends and maybe a first date.
And for more than 30 years, people in the Bronx turned to Concourse Plaza Multiplex Cinemas, but next month, the theater that has housed laughs, cries and everything in between, will shut its doors.
The theater first opened its doors in 1991 when “Home Alone” and “Thelma & Louise” were screening, but just ahead of summer, the final film will flicker across the theater’s iconic screens.
Locals are convinced the boom in digital platforms has made the movie-going experience more irrelevant.
“All these streaming networks, that’s probably what it is. Instead of spending money on movies, they probably just want to stay home,” resident Brook Schuler said.
The Bronx has just two theaters left. Once the multiplex shuts down, moviegoers will have to make their way to Bay Plaza in Co-op City.
Showcase Cinemas, the parent company of Concourse Plaza Multiplex Cinemas, was apparently unable to reach a new lease agreement.
Bronx Borough President Vanessa Gibson says the shutdown does not come as much of a shock.
“This is happening across the board where you sometimes have landlords and owners that are raising the price exorbitantly where the tenants can no longer afford it and they’ll say it’s not worth it anymore,” Gibson said. “We’re losing customers, we’re losing revenue, we can’t meet payroll and we just can’t maintain a business we’re operating at a deficit and no one wants to do that.”
Meanwhile, Feil, the landlord of Concourse Plaza, rejects claims that a new leasing deal could not be reached.
“Despite negotiating with the theater company and getting them to renew the lease, they chose to leave the community,” a representative for the company said
They said they are hoping to replace them with another theater.
The theater is just the latest entity in the once bustling shopping center on 161st Street to shutter. A food court and a grocery store also closed their doors for good in recent years.