MTA Stays at 469 Seventh Avenue

The Metropolitan Transportation Authority has elected to renew its lease at 469 Seventh Avenue. The building is located in Midtown by West 36th Street, and is co-owned by Dan Shavolian of Foremost Real Estate and Eric and Marty Meyer of Colliers International. The MTA will continue to occupy 34,000 square feet on the 11th and 14th floors of the nearly fully leased building. [TRD]

Growing Attraction at Garment District

Once aptly named, the Garment District is quickly becoming a favorite amongst retailers. The neighborhood, along Fifth and Ninth Avenues between 35th and 41st Streets, has traditionally been the home of fabric shops. Now, however, retailers are beginning to open coffee houses, fancy restaurants, and even an Urban Outfitters in the area. This renewed interest in the Garment District has raised average asking rent for ground retail space to between $200 and $350, up from the asking range of $125 to $150 just two years ago. [TRD]

A look at Manhattan West

Brookfield Properties has released a new promotional video  illustrating the changes afoot at their Manhattan West project. The video showcases that the completed residential building will stand at 702 feet tall with 64 stories and 790 units. The video also demonstrates just how pedestrian friendly the site will be, allowing residents and visitors easy access to the High Line and the Hudson Yards. [newyorkyimby]

Manhattan West’s First Tenant

Law firm Skadden, Arps, Slate, Meagher & Flom is Brookfield Office Properties’ first tenant at Manhattan West. The law firm  will occupy 500,000 square feet of Brookfield’s megaproject, when its lease at 4 Times Square expires in 2020. With rents ranging from about $75 to 85$ per square feet, this will be one of the biggest deals this year. [TRD]

Hell’s Kitchen Heats Up

Hell’s Kitchen has long had a reputation of being one of the rougher, grittier, only for the brave neighborhoods of Manhattan. Its persona as a “bad boy,” however, is seemingly coming to an end as it benefits from recent residential development and the ongoing construction at nearby Hudson Yards. The Real Deal conducted a panel to learn a little more about the changes afoot at Hell’s Kitchen. [TRD]