Crain's Reports NY Property Prices Still Falling

 Massey Knackal, which tracks sales of all commercial property types, including office buildings, multi-family properties and industrial spaces had their chairman Robert Knakal on the market as it stands. Knakal stated "There is a better vibe in the market, and there is a perception that values have bottomed out, but that is not correct.” He further noted statistics indicate that “the market is trying to find a solid footing.” He added, “We are not quite there yet.”
Average property values are still sinking, despite a big pick up in the number of commercial buildings sold last year.
 For the full story, please go here.

The Advance Group Does Furniture Installations

Did you know The Advance Group does furniture installations? The Furniture Installation Business Unit of The Advance Group is called FITCO.

Office furniture installation involves several key components, including an experienced and professionally trained staff, rigorous attention to detail, extensive pre-planning, and thorough execution. FITCO has successfully completed installations for the most demanding clients for over 15 years in the tri-state area.
FITCO has some of the most experienced talent and management-level team in the industry and prides itself on providing cost-effective, and highly coordinated responses to your most challenging projects.

Call us for more information on FITCO at 877-308-3170 and check out our FITCO webpage.

Time Square Theater close to signing a tenant

According to the New York Post, Times Square Theater is close to signing a tenant,
After sitting vacant for almost two decades. Broadway 4D is the potential leasee, and would take over the 30,000 square foot facility at 217 West 42nd Street. Sources say the deal is massively complex and far from complete. Back in 2004,  Landlord New 42nd Street, a non-profit group, came close to nailing down a long-term tenant when designer Marc Ecko signed a lease, only to walk away from the deal a few years after. 
 The Real reports "It was not immediately clear what the asking rent is on the building or which brokers are involved with the deal."
To read the whole story go here.

WTC sees a change in potential tenants

In a rare positive turn of events for the landlords involved, the World Trade Center will most likely not have the government "Offices of General Services" leasing out 600,000 square feet as planned. Normally this would come as bad news, but Conde Nast's letter of intent 1 million square feet in the 2.6 million square-foot tower comes as  a good surprise, as "government offices generally cheap a commercial buildings's image." states NY Post writer Steve Cuozzo. Read the full story here.