11/14/2023 0 Comments Sephora tower 28![]() ![]() Going against the grain, a prestigious accounting firm specializing in non-profit clients is leaving Midtown East for Downtown. It would be about 230 units of rental housing if I went that route, but I haven’t decided yet.” Trump said the Delmonico “will be redone in some form. Trump compared his strategy to that of legendary Green Bay Packers coach Vince Lombardi, “who said, ‘I draft the athlete – not the position.’ “ “I’m in no hurry.” As Trump sees it, he didn’t buy a hotel: “I bought a location – the best corner in the city.” “I’m in the process of deciding what to do with it,” he said yesterday. Trump himself seemed to give that notion credence. But McConnell said, “That wasn’t really a hotel deal.” ![]() Of course, there was one recent hotel deal – the $115 million sale of the partly-residential Delmonico, at Park Avenue and 59th Street, to Donald Trump. Ira Drukier, who with partner Richard Born owns the new Chambers, the Mercer, and the larger Wellington, said he’d take a look at the Gorham, on which “we made an offer once years ago.” He declined to guess what it might be worth. Sean Hennessey, hotel analyst for Pricewaterhouse Coopers, noted that in 2001 overall, “revenues for hotels in the city declined 20 percent, but profits declined 50 percent.” 11, it put an absolute damper on transactions,” he acknowledged. “The industry was so badly banged by Sept. “The Gorham, with 125 rooms, will appeal to somebody who wants a mid-market property, or somebody who wants to boutique it,” said Insignia/ESG hotel specialist Tom McConnell, who’ll be taking offers. 55th St., are putting the 16-story hotel across from City Center on the block. In a wobbly market, the European owners of the compact little Gorham, at 136 W. It’s the best location in Times Square.”Ī Sephora spokesperson declined comment on the backtrack, but said: “We’re extremely pleased with our portfolio of stores and are committed to Manhattan, where we just opened our seventh store and have plans to add more in the future.” “When someone asks what we want for the space,” Mendelson said, “I say we want what we got for Sephora – over $500 a square foot for the 75-foot Broadway frontage, if you value the back at $125 a square foot. outlets were “growing at a double-digit rate.” Just over a month ago, an LVMH spokesman painted a cheery picture of Sephora’s U.S. LVMH boss Bernard Arnault denied that the whole Sephora division was for sale. The Post earlier reported that Sephora was closing all its stores in Japan. The store was supposed to move into the 21,000 square-foot corner from its 8,000 square foot home one block south, at 1500 Broadway. He wouldn’t say why – or how – Sephora got out of a lease it signed a year ago. Insignia/ESG honcho Brad Mendelson, the agent for the landlord Moss family, was trudging through the snow yesterday showing the space to clients. The retailer has backed out of a deal to expand into a jumbo space in the “Bow Tie” building at Broadway and 45th Street, next to the booming new Toys ‘R’ Us. SEPHORA, the LVMH-owned beauty and cosmetics chain battered by losses worldwide, just sounded the trumpet of retreat in Times Square. ![]()
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