The new date is Dec 14, 2021, 12:11pm.
The Wall Street Journal reported Tuesday that Paramount Group, a real estate investment trust company, and a partner agreed to pay more than $190 million for the retail space occupied by M&M's World in Manhattan.
M&M's World is located in Manhattan.
The images are from the same company.
According to the Journal, M&M's World's lease is set to expire in 2036.
The sale of the retail space was put on hold because of the flu.
The M&M store at 1600 Broadway has three levels.
In September, a retail condo at 530 Fifth Ave that houses UGG, among others sold for $190 million, while in June, a Japanese clothing brand purchased the property at 556 Broadway that has been home to its flagship store since 2006 for $160 million.
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A Real Estate Board of New York biannual report published in April states that the trickle of tourists and office workers is injecting much needed life into day time commuter/transit oriented retail corridors. It said that traffic in most retail corridors is not close to pre-pandemic levels.
The key background.
According to the real-estate company, 1600 Broadway was purchased in 1987 as an office building. Studebaker, a horse carriage manufacturer, and an automobile factory and showroom used to be on the property before it was torn down to make way for a 25-story tower. The latest retail deal was brokered by a commercial real estate services firm. The firm didn't respond to a request for comment.
M&M's World Store is in a sweet sign.
Retail recovery is being led by open-air shopping centers.
