Testimonial

Efficiency is key in order to have a stress-free move and that comes from an experienced, hard working relocation team. Our exceptional customer service standards are what set The Advance Group apart from other relocation companies. From our sales estimators, right down to our moving crews, we pride ourselves on going above and beyond for our clients. Our team is large and experienced, which allows us to provide quality service to each and every relocation project. Intelligence, genuine concern, and strong teamwork yield a smooth move and pleased customers.

 

Dear Advance Group - My husband Patrick Connelly has already sent a brief thank you and acknowledgement of your movers' professionalism during our March 26, 2013 move, but I would like to add to it.  Specifically I would like to name the 3 men:  Ryan, Gerald, and Rich.  As a team, they were excellent.  Their patience and hard work were noteworthy as we asked them to moves items from our old office to three separate locations.  All items were treated carefully and arrived at their destinations unscathed.  Ryan efficiently took apart our sofa that has two reclining ends and then put it together again at our home.  As Patrick noted, we greatly appreciated their respect for the need for quiet in a suite of psychotherapy offices.  In addition, they were very polite and friendly and it really felt like the five of us were working as a team.  They went above and beyond through little things, like writing a "FREE" sign and putting it on the old sofa they moved out of our house to the street. It was all these big and little things that made our moving day so smooth, and reduced our stress significantly.  We hope their hard work is acknowledged by management.  Thank you again for such wonderful service.  

 

Lauren Picciano, Psy.D.

$26M for Clinton Hill warehouse

Ryerson Equity, a company based out of Borough Park, is in contract to purchase an eight story warehouse building, along with a one-story structure in Clinton Hill. The transaction will cost Ryerson Equity $26.25 million. The plan is to convert the purchased structures into a hotel, retail and offices. The structure at 29 Ryerson Street and the lot next door at 256-266 Flushing Avenue, make up 200,070 square feet that Ryerson Equity will attain. The property is currently owned by Robert Lewis, the owner of Total Records Information Management.

After purchasing the property, the buyer plans to lease. Expectations include a three floor hotel, two floors of offices, two floors to make up a gym, and retail on the ground floor. Sources say that the rooftop will be used for a bar as part of the hotel.

The deal, started February 27, is expected to close in mid-May.

http://therealdeal.com/blog/2013/03/20/clinton-hill-warehouse-slated-for-transformation-in-contract-for-26m-sources/

Four New Tenants at Times Square Plaza

Four new companies have signed leases at Times Square Plaza. The SJP developed building at 11 Times Square will be home to eMarketer, Senor Frog’s restaurant, Bank of America and Off the Wall Frozen Yogurt. The digital marketing, media and commerce data provider, eMarketer, is reportedly inking the deal for 53, 573 square feet of office space this week. Senor Frog’s, a Mexican themed restaurant signed a deal for 21,000 square feet, while Bank of America signed for a 2,393 square-foot location and Off the Wall Frozen Yogurt signed for 2,500 square feet. Tenants of this building also include Microsoft (230,00 square feet for its new headquarters).

http://therealdeal.com/blog/2013/02/11/four-new-leases-signed-at-11-times-square/

RXR Realty to Occupy 75 Rockefeller Plaza

The office tower at 75 Rockefeller Plaza has been around since 1947-originally known as the ‘ESSO Building’ for the Standard Oil Company. Time Warner Corporation has occupied it since 1993.

The building will undergo renovations after a switch in occupancy. LEED certification is becoming an essential aspect in creating new buildings and new opportunities in New York City. The upcoming project for a new building in Rockefeller Center is no exception. RXR recently signed a 99-year lease for 75 Rockefeller Plaza in Midtown. Renovations of the building are to start in summer of 2014 (when Time Warner’s net lease expires). Scott Rechler, Chairman and Chief Executive Officer of RXR states “When renovations are complete it will be the newest, most advanced, LEED Certified building in all of Rockefeller Center.”  There is a plan to have multi-floor retail occupancy.

http://www.rew-online.com/2013/01/24/11538/

Twisting Tower coming to Manhattan West

Manhattan West continues to grow. A twisting tower is coming to 3 Hudson Boulevard. The 1.7 million square foot tower will be located between 34^th street & 35^th street (near Hudson Yards). Dan Kaplan of FXFOWLE designed the building which will rotate 22 degrees from the base, up. The aesthetically pleasing tower will also be LEED platinum, due to the efficiency of the building.  The tower will stand roughly 1,000 feet high and will add to the stunning New York City skyline.

Residential dwellings will most likely be towards the top of the building where as the bottom will be used for retail and trading. At the top of the building, there will be several terraces and a rooftop deck. The roof top deck will include shielding from the wind. The exterior of the building will catch the sunlight, and also views of the Hudson River. With an ideal location and an eye catching design, this twisting tower will most definitely be an asset to the ever-evolving West Side.

http://www.nypost.com/p/news/business/realestate/commercial/lucky_at_hudson_blvd_1vlWlcVUhWwWkXtdAPt3HI

$4.5 Billion Manhattan West Development

Penn Station, Madison Square Garden and Times Squares are all staples of Midtown. The new Midtown West Development that is underway will add another attraction to this location. The unique aspect of this new development is that it will be built over the active rail yard.

The Manhattan West development was started this week by Brookfield Properties. The 4.5 billion dollar project will stretch along Ninth Avenue and Dyer Avenue, from West 31^st to West 33^rd streets.  A platform will be built which two of the office towers will sit on. In order to build the platform over the rail yard, a series of 16 bridges must be made first.  The platform alone will cost 680 million dollars. The third tower, which will be utilized for retail and residential housing, will be built on land. A 1.5 acre public space will also be included where pedestrians may congregate. The entire project is set to be available for tenants by 2016.

http://www.dnainfo.com/new-york/20130115/chelsea/work-starts-on-45-b-west-side-skyscraper-project

Hudson Yards Aiming for Platinum LEED Certification

The future looks bright for the Hudson Yards. Manhattan’s west side will get a make-over within the next few years. Oxford and Related have leased the site which stretches from West 30^th Street to 33^rd Street, and from Tenth Avenue to Twelfth Avenue. The 1 billion dollar lease between Oxford and Related and the MTA, will be in effect for 99 years. The once industrial area was rezoned in 2005 and will include apartments, parks, office buildings, shops and event spaces in the years to come. The first building to go up is expected to open in 2015 and is striving for LEED Platinum certification. Committed tenants to this tower include Coach, and two other unidentified parties. For more information about this please click on the link below.

http://greensource.construction.com/news/2012/12/121205-at-last-hudson-yards-breaks-ground.asp

 

Meatpacking District Gold LEED Cretified

When people think of the meatpacking district, they associate it with the historic character that can only be found in New York City. Through past years the neighborhood has been booming with artists, designers and creative firms working alongside the meatpacking plants. This trend continues to strive with the newest addition to this district of Manhattan, the new retail hub emerging with the ground breaking by Taconic Partners and Thor Equities. It consists of a 55,000 s/f retail/office building across from the High Line. The new structure is more of a work of art than a building with a steel frame stretching toward the sky and a brick base that can only maintain the historic charm of the meatpacking district. Not only will this new structure preserve the meatpacking district New Yorkers love, it is also expected to earn LEED gold certification. This new addition to one of the most iconic neighborhoods shows how the future will continue to flourish and strive. For more information about this please click on the link below.

http://www.rew-online.com/2012/12/12/gutsy-meatpacking-move-for-thor-taconic/ 

High Profile NYC Restaurants go bust; leave empty space

"I wouldn't identify a theme to it, because all the closings happened for completely different reasons," said JDF Realty's Leslie Siben, a prominent restaurant broker.
But many of NYC's major high end restaurants are going bust, including Angelo & Maxie's steakhouse at 233 Park Avenue South and its sister eatery, Maxie's Grill. Already this year, the industry has seen theclosings of Tabla, Matsugen, Japonais, Montenapo, and, most buzzed about, the abrupt shutterings of Convivio and Alto, high-end Italians owned by Chris Cannon. 
However, plenty of new restaurants are opening as well.  Cushman & Wakefield's Brad Mendelson sees lots of activity in Midtown. But, "It's kind of funny," he said, "We're seeing tenants out of Florida and other parts of the country, not local."Read the full story at the New York Post.

Broadway Partners seeks capital infusion at 280 Park Ave

The Real Deal reports that Scott Lawlor's Broadway Partners is seeking a capital infusion at 280 Park Avenue. The building's interest reserves have been dwindling, and the partners have hired Edgerock Realty Advisors to help find investors, as was reported to Crain's Business News.
In 2007, Broadway acquired the 1.2 million-square-foot trophy property with Investcorp for around $1.2 billion. The building has around $440 million in outstanding securitized debt, and while the loan payments are current, reserves are only at around $36 million. To see the full article, please go here.

Greg David of Crain's Reports Economic Growth Likely to Accelerate

It's looking like the number of jobs the city gained last year will be revised upward from the preliminary stats that showed 55,000. Greg David stated " This is what usually happens in the first year of a recovery, as the paperwork that shows new hires often lags." Greg David also cited the Crain's article "Big Tenants getting spaced out" as evidence that business services sector is hungry for larger spaces, indicating expansion and new hires. He also stated that the private school sector is on the rise, with applications rising to 10% and entrepreneurs opening new schools. He also cited a report that stated 192,000 jobs have bee added in the US in February, and that New Yorkers should pay attention to Fed Chairman Ben Bernanke's statement last week that the public sector job cuts "would not derail economic growth." To read the full article, please go here.

Target and developers buy a Bronx Postal Service Building

The Real Deal Reports that Target and developers bought a Bronx Postal Service in the Throgs Neck section of the Bronx, for $35.2 million, where they plan to build a 300,000-square-foot mall.

The owner was listed as Lafayette Nominee Owner LLC, with an address at Target's corporate headquarters in Minneapolis, Minn. The acquisition of the site at 815 Hutchinson River Parkway at Lafayette Avenue went into contract in November and closed Feb. 11, city property records published last Wednesday show. 

"We plan to build about 300,000 square feet of retail," said Paul Slayton, a principal with PA Associates. Target would own its own portion as a condominium, and the rest would be leased to other tenants. 
For the full story, please go here.

Tishman Construction Goes Global

Los Angeles based Aecom Technology Corporation, primarily an engineering and design firm, bought Tishman last year in $245 million deal. John Livingston has now been named as the leader of the new division, Aecom Construction Services, whose clients will include large commercial and instituional clients. Integrated delivery is a godsend for many clients,” said Mr. Livingston. The merge allowed Tishman to "be global in one day.”
Tishman built the original World Trade Center and are now working on the new WTC. 
For more information or to read the full article, please go here.

The Advance Group's Commitment to Green

 THE ADVANCE gROUP'S GREEN POLICY...

Our philosophy at Advance Group has always been different than our competitors: we believe that profitability, environmental responsibility and social contribution go hand in hand. Our success can be measured not only in money made but in the good we create for our community. We are the first in the industry to amass a network of strategic partners who share our vision of sustainability and have joined the force for good.   The Advance Group takes seriously the obligation to maintain and support environmentally responsible policies and practices, and is responsive to our clients who are engaged in LEED (Leadership in Energy and Environmental Design) certified projects. Each of our business units employs specific green strategies, including truckload consolidations to conserve fuel, executing our moves with environmentally friendly equipment whenever possible, and recycling according to NYS DEC and EPA guidelines. Our technology recycling process adheres to governmental guidelines, and we observe a zero-landfill policy. We shred and recycle 100% of your retired assets.

The Wall Street Journal Reports seizing of Willets Point

In the first 20 acre phase of a 62 acres real estate development project, the Bloomberg administration plans to seize land in Willets Point from private property owners. The site is filled with small manufacturers, auto repair shops and junkyards and borders Citifield.
The site is slated to contain a hotel, retail stores and 5,000 apartments.
To read more, please visit here.

Real Estate Weekly Reports building bought

Real Estate Weekly reports that Starwood Capital Group has bought a troubled Class B office building for $72M, located at 1415 Sixth Ave. The reported plans include turning the building into a hotel. The building has 138,000 square feet of empty office space with retail space near 58^th street. It was also supposed to be converted into a hotel by the previous owner, Murray Hill Properties.
For the full report, please visit here.

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.