News: Owners Developers & Managers

Hidrock Realty to complete $2m project at 53 West 36th St.

Only eight months after Hidrock Realty purchased the 12-story office building at 53 West 36th St., the firm is near the completion of a $2 million capital improvement and tenant build-out project, according to Abraham Hidary, president of Hidrock, the building's landlord. The renovations include a new lobby, a modernized elevator system with new cabs, a new roof and new windows. Hidrock also remodeled the common public corridors and bathrooms on multi-tenanted floors and completed build-outs for all full-floor tenants. The new lobby comprises stone flooring, wood and frosted glass wall panels, as well as stainless steel front entrance doors with transoms that bring in more natural light. Thin vertical strip LED (light-emitting diode) lighting was installed under the wall panels, allowing light to shine through the frosted glass. "Our goal in rehabilitating this side street building was to attract a new class of office tenants to Times Square South," said Hidary. "As a result, 11 new leases have been signed in the past seven months. Brokers and tenants have reacted very favorably to the building's transformation." New tenants include China Construction Design International USA, Converseon, Inc., Core Products, I-Net Technologies Ltd., Nicourt Apparel, Schnakel Engineering, Shine Media and WBTL Architects LLP.
READ ON THE GO
DIGITAL EDITIONS
Subscribe
Columns and Thought Leadership
Hunt Commercial Real Estate Question and Answer:  Evaluating the buyer - by David Hunt

Hunt Commercial Real Estate Question and Answer: Evaluating the buyer - by David Hunt

The Purchaser: This is usually a subjective decision. As an example, a large public company may be a desirable purchaser because it is financially strong, but
IREON Insights:  Research and development tax credit: Very important deadline for amendments is July 6 - by Richard Levychin

IREON Insights: Research and development tax credit: Very important deadline for amendments is July 6 - by Richard Levychin

If you are a company that either claimed or qualify for the research and development tax credit you need to be aware of the following update resulting from the One Big Beautiful Bill Act (OBBBA).
Follow the upside: How NYC  investors are rethinking real estate - by Thomas Donovan

Follow the upside: How NYC investors are rethinking real estate - by Thomas Donovan

In my earlier years of brokerage, my team had our investor list divided into five brackets – multifamily, retail, office, industrial and development. For the most part, multifamily investors only wanted to see multifamily
Hunt Commercial Real Estate Q&A:  Location, location, location? - by David Hunt

Hunt Commercial Real Estate Q&A: Location, location, location? - by David Hunt

In working with our clients, we break down our search objectives into two categories. The first category involves the specific needs of your business such as warehouse height, amount of office space and number of loading