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$19.45 million 25 Columbus Circle #ST68A $11 million 212 Columbia Heights 923 Fifth Avenue #17C 46 Morton Street 407 East 75th Street
Corcoran
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Source: StreetEasy and The Real Deal. Data is for closed deals filed with the city between Jan. 30 and Feb. 24, where both a broker and an address can be identified. Chart only includes sellers brokers.
Last Drake Hotel site holdout drops motion stalling related development
By KAtherine ClArKe Jacob & Co., a high-end watchmaker headquartered at 48 East 57th Street, has withdrawn a motion for an injunction against the developer of the nearby Drake Hotel site. The withdrawal, filed last month in New York Civil Court, marks the end of Jacob & Co.s latest dispute with the developer, CIM. The two have wrangled since Jacob & Co. initially refused to sell the East 57th Street property to CIM, which had hoped to raze the building as part of its Drake Hotel master plan. The watchmaker stood firm, even when the other remaining holdout, British retailer Turnbull & Asser, sold its 57th Street location to CIM last year for $32.4 million. In October, Jacob & Co. filed a lawsuit against CIM, alleging that the demolition of an adjacent townhouse damaged the Jacob & Co. property, resulting in a significant loss of revenue, according to the complaint. Jacob & Co. did not respond to requests for comment about why the Joseph Cayre The Drake Hotel site suit was dropped.
102 March 2012 www.TheRealDeal.com
Reader comments
The rise of Rapid Realty:
Why open so many franchises all over Brooklyn? This isnt 1990, where every neighborhood needs a broker. Everything is done online.
Friends star demolishes EV townhouse as LPC comes knocking:
Paolo Zampolli