Everyone knows that Michelle Obama helped put Jason Wu on the map. But
the subsequent publicity blitzkrieg couldn’t have come at a more apropos time.
Wu was already riding a high from a previous (self-dubbed “breakthrough”)
spring 2009 show, which saw a $1.2 million jump in sales. “We were ready for
that next area of expansion,” Wu, 27, remarks.

And expand he has. Of all the designers in the Obama fashion tribe, Wu has
taken most obvious advantage of his fortuitous moments in the spotlight. In the
past year, the Taiwanese designer launched a pre-fall collection, sales of which
are already 45 percent over initial projections; sunglasses, with Modo Eyewear;
his own GE digital camera, licensed by General Imaging; a capsule collection
with Tse Cashmere, and has plans to enter the footwear market by 2011.

Hidrock is announced as the winner of the 2009 Property Improvement Award
from the Fashion Center Business Improvement District

The award is in recognition of its significant renovations at 53 West 36th Street.

“We are proud of our accomplishments at the 53 West 36th Street property,” said
Eddie Hidary, vice president at Hidrock Realty. “With a $3 million dollar building-wide renovation project, we were able to effectively improve the building’s overall look
and feel, as well as its efficiency, including a complete redesign of the lobby, front entrance and facade.”

Hidrock purchases the building at 960 Sixth Avenue

Abe Hidary of Hidrock Realty has paid $40 million to Societe Generale for
its non-performing $95 million mortgage at 960 Sixth Avenue.

“We own five other assets within two blocks and are confident if we had
to run it, we could operate it and lease it,” said Hidary, who obtained a $7
million mortgage from Signature Bank for the purchase.

Less than one year after a joint venture of Hidrock Realty and Meritage Properties
purchased the building at 240 West 35th Street, the renovation of the 18-story,
162,000 square foot building is yielding results. Leasing momentum is strong and
the building’s transformation is nearing completion.

A handful of leases have recently been signed.

Risk Protective Services, a provider of trained security personnel to a myriad
of companies, expanded into Suite 1002.

Also on the 10th floor, Westside Clothing, an apparel designer located in the building
since 2004, expanded into Suite 1000.

By Abraham Hidary

AIG, Bear Sterns, Citigroup, Lehman Brothers, Washington Mutual, Bernard Madoff –
the financial world has collapsed over the past year. It’s trickled down into all facets of the economy and has dramatically impacted all disciplines of the real estate business.

Many complained about the high prices of property that resulted during the recent boom, saying they’d buy a house or invest in a commercial building when prices came down – only to find that with prices down, market liquidity is impaired and it is difficult to commit to a purchase. So when will it be the right time to buy again?

Featuring Abraham Hidary

Office building owners struggling to retain their tenants in the weak economy are more likely to pay a full broker’s commission on a renewal lease compared to a year ago, landlords said.

Peter Braus, executive vice president and principal at property owner and manager Sierra Realty, said tenant brokers have more leverage in the commercial leasing market today as vacancy rates rise and new tenants are hard to find.

53 Design Corp. has leased 2,000 SqFt of retail space on the ground floor of 53 West 36th Street, announces Abraham J. Hidary, President of Hidrock Realty, the building’s landlord. The asking rent was approximately $85 per SqFt.

The tenant has a string of fashion boutiques on Seventh Avenue and decided to open
a new wholesale division due to the store’s popularity. 53 Design Corp. will conduct its wholesale operations from the new space.

Shaw Industries, Inc signs a lease at Hidrock’s 53 West 36th Street building

Shaw Industries, Inc, a leading manufacturer of flooring, has leased 2,575 s/f of office space on the 5th floor of Hidrock Realty’s 53 West 36th Street, according to Abraham J. Hidary, president of Hidrock.

After Hidrock’s purchase of the building in the summer of 2007 with joint venture partner Assurant, the building’s renovation was completed in September 2008. This lease brings the lease-up campaign to 92% complete.

Lisa Vidal, 27, has joined Hidrock Realty as a leasing director.

In this role, Ms. Vidal will support Hidrock’s office and retail leasing teams.
Her responsibilities include the creation of marketing materials, the handling
and coordination of all space showings, and neighborhood market research.

ZMIX Inc. has leased a 2,100 SqFt on the ground level of 53 West 36th Street to house
its new wholesale division, announces Abraham J. Hidary, the building’s landlord. The asking rent was approximately $85 per SqFt and the lease is for a term of eight years.

ZMIX’s successes with several retail boutiques in Manhattan’s SoHo neighborhood lead the firm to venture into wholesale operations.