Population Statistic: Read. React. Repeat.
Thursday, September 09, 2021

What I witnessed a couple of days ago, on lower Broadway:

Some hipster tossed his half-finished latte into a public trashcan — and missed, badly. The paper cup bounced off the lid, onto the road off the curb, spilling a coffee puddle onto the street. A typical urban mess.

The really amazing thing: The hipster, instead of walking hurriedly off without a second glance, actually stopped, went back, and picked up the cup. He then deposited his trash into the can. He even dispersed the spilled coffee with his foot, in an attempt to prettify the mishap. (And note that there was no cop in sight to influence this behavior.)

I was walking my own way at a brisk clip myself, but I caught enough of this scene to be both bemused and impressed. Thinking back to the New York of years past, when the more typical outcome would have been just more litter piling up, it’s really jarring to see this self-conscious civic caretaking in effect.

by Costa Tsiokos, Thu 09/09/2021 11:59pm
Category: New Yorkin', Society
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The neighborhood borderland between Chelsea and the West Village is an unlikely site for the re-juicing of Manhattan’s commercial real estate market. But that’s what the owners of 111 Eighth Avenue are banking on, as the massive edifice is about to go on the block for a 10-figure dollar sum:

At nearly three million square feet, 111 Eighth is the fourth-largest office building in New York City (55 Water Street, with 3.8 million square feet, is the largest), packed with high-profile tenants like Google, barnesandnoble.com, Nike USA, Lifetime Entertainment and Deutsch advertising. It is practically full, and next year it will generate net operating income of nearly $100 million.

“There haven’t been any sales of this size post-financial crisis,” said Dan Fasulo of Real Capital Analytics, a real estate data firm. But, he said, “it’s a unique, mixed-use property in one of the best submarkets in Manhattan.” He added, “The real estate investment trusts will be all over it.”

The funny thing: Up until only last week, I was a daily visitor to 111 Eighth. I’ve been doing onsite client work since April at that location, until the company moved my workgroup up the street to another office building in Hell’s Kitchen. I’m only a couple of days into getting used to my new commute (C/E trains instead of the L), and I definitely miss the funkier neighborhood. Small world.

Following this theme of major New York economic machinations having something to do with my presence, I’ll have to assume that they waited for me to vacate the premises before putting the “For Sale” sign up. I hope that’s worth an extra mil or two come closing time.

by Costa Tsiokos, Thu 09/09/2021 10:59pm
Category: Business, New Yorkin'
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