In Todays New York Post
Posted: May 25, 2016 4:00 pm
Parrotheads rejoice. Margaritaville may be heading to Times Square’s Brill Building thanks to its cutting a deal with the landmark building’s new owners, who take control next week.
We hear that Jimmy Buffett’s entertainment restaurant concept could soon change that northwest corner of West 49th Street and Broadway into Parrothead Way.
If it comes, expect a multi-level restaurant and shop at the street level for all the land sharks, as well as a unique outdoor experience on the top of the 11-story building.
The rooftop alone has 12,700 square feet and includes a patio area where folks will be able to chow down on a cheeseburger in not-quite-paradise.
The sale of the building at 1619 Broadway — to Ilan Bracha and Haim Binstock ’s B+B Capital and partners that include Conway Capital and others — is due next week with a slight pricing boost.
That’s because it took a while for the sellers, Eric Hadar’s Allied Partners and Brickman & Associates, to get City Landmarks approvals to include a special, three-story LED sign. The sign will be used to full effect by Margaritaville and another fashion tenant also heading to the property.
Margaritaville just branded a new hotel in Hollywood managed by the same group that manages the Savoy Hotel in Miami Beach, which is owned by Allied Partners — and sources said had been discussing this deal for some time.
Originally marketed by Richard Baxter, Ron Cohen, Jon Caplan and Scott Latham and Stephen Shapiro of JLL and contracted for $295 million, we hear B+B and partners will now pay around $300 million. Allied and Brickman paid $185.5 million in 2013.
The building is a mecca for songwriters and is the setting for HBO’s “Vinyl.” It sits along the corridor off the Bow Tie that could benefit from the “Nordstrom effect” when that department store opens a few blocks north.
Those reached declined comment as the deals are all pending closing.
Link to article below:
http://nypost.com/2016/05/25/will-under ... ing-space/
We hear that Jimmy Buffett’s entertainment restaurant concept could soon change that northwest corner of West 49th Street and Broadway into Parrothead Way.
If it comes, expect a multi-level restaurant and shop at the street level for all the land sharks, as well as a unique outdoor experience on the top of the 11-story building.
The rooftop alone has 12,700 square feet and includes a patio area where folks will be able to chow down on a cheeseburger in not-quite-paradise.
The sale of the building at 1619 Broadway — to Ilan Bracha and Haim Binstock ’s B+B Capital and partners that include Conway Capital and others — is due next week with a slight pricing boost.
That’s because it took a while for the sellers, Eric Hadar’s Allied Partners and Brickman & Associates, to get City Landmarks approvals to include a special, three-story LED sign. The sign will be used to full effect by Margaritaville and another fashion tenant also heading to the property.
Margaritaville just branded a new hotel in Hollywood managed by the same group that manages the Savoy Hotel in Miami Beach, which is owned by Allied Partners — and sources said had been discussing this deal for some time.
Originally marketed by Richard Baxter, Ron Cohen, Jon Caplan and Scott Latham and Stephen Shapiro of JLL and contracted for $295 million, we hear B+B and partners will now pay around $300 million. Allied and Brickman paid $185.5 million in 2013.
The building is a mecca for songwriters and is the setting for HBO’s “Vinyl.” It sits along the corridor off the Bow Tie that could benefit from the “Nordstrom effect” when that department store opens a few blocks north.
Those reached declined comment as the deals are all pending closing.
Link to article below:
http://nypost.com/2016/05/25/will-under ... ing-space/