A look at what remains of one Fifth Avenue’s premier hotels

Holland House at Fifth Avenue and 30th Street was once one of the city’s premier hotels. Today, it is an office building, but there are still remnants of its Gilded Age splendor. “Every window in the Holland House, at Fifth Avenue and 30th Street, was glowing with light last night when the doors were opened to hundreds of visitors bidden to see the beauties of the new hostelry,” the New York Times wrote December 6, … [more]

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Vector earnings outperformed estimates

Douglas Elliman’s parent company Vector Group is having a heyday on the stock market, with shares outperforming expectations. And Vector’s director Bennett Lebow – partner to president and CEO Howard Lorber – is cashing in. Lebow sold 25,000 shares of Vector stock on the open market on Wednesday, according to Sleek Money. The shares sold at an average price of $22.41, making the total total transaction worth $560,250. Lebow now directly owns about 1.55 million … [more]

Corruption probes slowing 421-a, rent control talks: Cuomo

Federal corruption probes into the practices of state lawmakers are making it difficult for the Legislature to resolve contentious issues — particularly the extension of rent control for New York City, Gov. Andrew Cuomo said. “If it was a different time in Albany, frankly, and Albany was [in] a little bit more stable situation, I would normally take these negotiations to Albany and try to work it out among the parties,” Cuomo told business leaders … [more]

Hell’s Kitchen hoteliers face boycott after meeting with Ted Cruz

The owners of a hotel located at 510 West 42nd Street in Hell’s Kitchen are facing a boycott after meeting with Republican presidential hopeful and anti-gay marriage activist Ted Cruz. The OUT co-owners Ian Reisner and Mati Weiderpass, who also own a stake in gay beach resort the Fire Island Pine, met with Cruz on Monday, and criticism from hotel clients and activists has mounted since, according to DNAinfo. AIDS charity Broadway Cares canceled a … [more]

Chinese investments in New York could total $50B in coming years

Chinese investors could bring more than $50 billion to the New York City real estate market, according to Cushman & Wakefield chairman of New York investment sales Bob Knakal. While last year saw record-levels of Chinese investments — including Anbang Insurance’s nearly $2 billion purchase of the Waldorf Astoria — more is likely coming to the city, according to the Street.  “Believe it or not, they’ve been testing the market over the past two years,”JDS Development’s Michael Stern … [more]

MoMA store in Soho mulls move

The Museum of Modern Art Design Store could be moving to another location, due to rising rents. The store’s 14,500-square-foot space at 81 Spring Street is on the market, according to Crain’s. The three-level retail space has an asking rent of an annual $2.5 million, according to the website, about three times more than what the MoMa shop paid when it moved in 13 years ago. MoMA‘s lease expires in July 2016. While the store is negotiating … [more]