Friday, June 27, 2014

Midtown Manhattan’s Gold ATM

Even though it was to London which the Dick Whittington referral was made about streets being paved with gold, that was the 19th century.  Perhaps now the reference could be changed to Manhattan.  Because in Midtown Manhattan, there is now an ATM that dispenses…gold!  The Stack’s Bowsers Gold-to-go ATM is located on West 57th Street.  Users (with money of course) can access gold through this machine with their credit card or cash.  One ounce gold bars are “retailing” here for approximately $1,300.  For those with less money to spare, 10 gram bars are on “sale” for around $490 and 5 gram bars for $255, subject to market fluctuations. And it’s not just gold.  Silver lovers can buy their coins too, together with a commemorative Bronx Zoo silver coins and pieces. 

The machine was purchased a couple of years ago by Andrew Bowers from TG-Gold-Super-Markt.  At the time, the US only had two others like it – one in Vegas and the other in Atlantic City.  So for those who find themselves walking around the city that never sleeps, here is yet another attraction to keep them entertained!

Tuesday, June 24, 2014

Canal Street Shopping Gets a Boost

It seems like SoHo’s Canal Street shopping is just about to get a whole lot better.  Elli Ausubel – who is a partner with White Bay Group Uriel Cohen – has purchased a large, 25,000 sq. ft. building.  

Ausubel purchased the building – with a group of buyers – for $24.8m. There are future plans to put a further $17.3m into it with renovations, with a bridge loan from Investors Bank.

According to Eastern Union Funding broker David Eisen (who arranged the financing for this investment), the fact that Ausubel received this bridge loan is good news and makes his decision to invest here a logical one.  He said:

"They believe they can secure a marquee national retail tenant for this space.There are a lot of people banking right now that Canal is going to be the next big shopping corridor.It was a real sign of confidence on behalf of the lender in both the borrower and also the way the neighborhood is poised to change."
In addition, given that rents in Canal Street are relatively cheap, it will gain momentum and popularity for shoppers and tenants alike.

Tuesday, June 3, 2014

Midtown Manhattan Comes to Florida

When it comes to high-end buildings, the nation is full of them.  But for those looking for a piece of Manhattan in the sunshine state, that’s not so common.  Thanks to Vladimir Doronin, chairman of Moscow’s Capital Group, that is about to become possible.

Together with Miami developer Ugo Colombo of CMC Group Inc., Doronin is in the final stages of negotiations to develop the extremely high end Brickell Flatiron.  The Flatiron name is most often connected to the iconic Flatiron building located in Manhattan on Fifth Avenue and Broadway.  Likewise it has a triangular shape, akin to the clothing flatirons that used to be heated on stoves.  And hence the name – flat iron.

The project will comprise 552 units and 40,000 square feet of retail development, including restaurant, lounge, rooftop swimming pool, gym, spa, outdoor lap pool and shop space.  Each unit will measure approximately 1,250 sq.ft.