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PRESS

[vc_row css_animation=”” row_type=”row” use_row_as_full_screen_section=”no” type=”full_width” angled_section=”no” text_align=”left” background_image_as_pattern=”without_pattern”][vc_column][vc_column_text]Abraham Hidary, president of Hidrock Realty, is planning to turn the ugly duckling
he paid $58M for into a swan.

As REW reported September 3, a joint venture of Hidrock and Meritage Properties purchased the 162,000 s/f office building, known as the Mary McFadden Building,
at 240 West 35th Street, between Seventh and Eighth Avenues.[/vc_column_text][/vc_column][/vc_row][vc_row css_animation=”” row_type=”row” use_row_as_full_screen_section=”no” type=”full_width” angled_section=”no” text_align=”left” background_image_as_pattern=”without_pattern”][vc_column][vc_column_text]VIEW FULL ARTICLE [/vc_column_text][/vc_column][/vc_row]

[vc_row css_animation=”” row_type=”row” use_row_as_full_screen_section=”no” type=”full_width” angled_section=”no” text_align=”left” background_image_as_pattern=”without_pattern”][vc_column][vc_column_text]A joint venture of Hidrock Realty and Meritage Properties has purchased the Mary McFadden building at 240 W. 35th St. from Eretz Group for $58 million. The 17-story building contains 162,000 square feet and sits between Seventh and Eighth Avenues.

Hidrock is also the owner and landlord of three properties along West 36th Street –
35, 53, and 65 – all located between Fifth and Sixth Avenues.[/vc_column_text][/vc_column][/vc_row][vc_row css_animation=”” row_type=”row” use_row_as_full_screen_section=”no” type=”full_width” angled_section=”no” text_align=”left” background_image_as_pattern=”without_pattern”][vc_column][vc_column_text]VIEW FULL ARTICLE [/vc_column_text][/vc_column][/vc_row]

[vc_row css_animation=”” row_type=”row” use_row_as_full_screen_section=”no” type=”full_width” angled_section=”no” text_align=”left” background_image_as_pattern=”without_pattern”][vc_column][vc_column_text]A joint venture of locally based Hidrock Realty and Scarsdale, NY-based Meritage Properties has acquired a 162,000-sf office building, known as the Mary McFadden Building, at 240 W. 35th St., between Seventh and Eighth avenues. According to
a source close to the deal, the purchase price was $58 million. The seller was the
Eretz Group, who couldn’t be reached by deadline for comment; however the source
tells GlobeSt.com that the reason for selling was simply that it was “offered a good
price,” for the asset.[/vc_column_text][/vc_column][/vc_row][vc_row css_animation=”” row_type=”row” use_row_as_full_screen_section=”no” type=”full_width” angled_section=”no” text_align=”left” background_image_as_pattern=”without_pattern”][vc_column][vc_column_text]VIEW FULL ARTICLE [/vc_column_text][/vc_column][/vc_row]

[vc_row css_animation=”” row_type=”row” use_row_as_full_screen_section=”no” type=”full_width” angled_section=”no” text_align=”left” background_image_as_pattern=”without_pattern”][vc_column][vc_column_text]The Futures Group Holdings, Inc. has leased 2,023 SqFt on the sixth floor of 53 West 36th Street for its headquarters, according to Abraham J. Hidary, President of Hidrock Realty, the building’s landlord. The asking rent was $45 per SqFt.

The tenant, a boutique-recruiting firm that specializes in the financial industry, will take immediately occupancy of the space for a term of seven years.[/vc_column_text][/vc_column][/vc_row][vc_row css_animation=”” row_type=”row” use_row_as_full_screen_section=”no” type=”full_width” angled_section=”no” text_align=”left” background_image_as_pattern=”without_pattern”][vc_column][vc_column_text]VIEW FULL ARTICLE [/vc_column_text][/vc_column][/vc_row]

[vc_row css_animation=”” row_type=”row” use_row_as_full_screen_section=”no” type=”full_width” angled_section=”no” text_align=”left” background_image_as_pattern=”without_pattern”][vc_column][vc_column_text]53 Design Corp. has leased 2,000 s/f 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 square foot.

The tenant has a string of fashion boutiques on Seventh Avenue and decided to open a new wholesale division due to the stores’ popularity. 53 Design Corp. will conduct its wholesale operations from the new retail space.[/vc_column_text][/vc_column][/vc_row][vc_row css_animation=”” row_type=”row” use_row_as_full_screen_section=”no” type=”full_width” angled_section=”no” text_align=”left” background_image_as_pattern=”without_pattern”][vc_column][vc_column_text]VIEW FULL ARTICLE [/vc_column_text][/vc_column][/vc_row]

[vc_row css_animation=”” row_type=”row” use_row_as_full_screen_section=”no” type=”full_width” angled_section=”no” text_align=”left” background_image_as_pattern=”without_pattern”][vc_column][vc_column_text]By Abraham Hidary

During an economic downturn, commercial landlords have one primary focus – to keep their buildings filled and their vacancy rates low. Of course, at such times it is extremely important that both the owners and their brokers take an active role in retaining and attracting tenants. But during tough times, this poses a significant challenge that is
easier said than done.

One of the first things that landlords and brokers should do in this economy is evaluate their companies’ business plans and determine if their current strategies would suffice
in a tougher economy.[/vc_column_text][/vc_column][/vc_row][vc_row css_animation=”” row_type=”row” use_row_as_full_screen_section=”no” type=”full_width” angled_section=”no” text_align=”left” background_image_as_pattern=”without_pattern”][vc_column][vc_column_text]VIEW FULL ARTICLE [/vc_column_text][/vc_column][/vc_row]

[vc_row css_animation=”” row_type=”row” use_row_as_full_screen_section=”no” type=”full_width” angled_section=”no” text_align=”left” background_image_as_pattern=”without_pattern”][vc_column][vc_column_text]Featuring Abraham Hidary

Reports that consumer prices spiked 1.1 percent in June raises the issue of inflation, which has in the past been advantageous to real estate investors. In the current state of the market, it’s not clear if rising inflation will end up being a boon or a burden on top of the credit cards.

During the inflationary periods of the 1970s and 1980s, many investors who held real estate made out reasonably well, reinforcing the idea that real estate is a good investment for bad times.[/vc_column_text][/vc_column][/vc_row][vc_row css_animation=”” row_type=”row” use_row_as_full_screen_section=”no” type=”full_width” angled_section=”no” text_align=”left” background_image_as_pattern=”without_pattern”][vc_column][vc_column_text]VIEW FULL ARTICLE [/vc_column_text][/vc_column][/vc_row]

[vc_row css_animation=”” row_type=”row” use_row_as_full_screen_section=”no” type=”full_width” angled_section=”no” text_align=”left” background_image_as_pattern=”without_pattern”][vc_column][vc_column_text]When Gavin Macrae-Gibson moved his architecture firm from Midtown Manhattan to the Garment District in 1995, he had no idea he would be soon followed by many others in his trade.

Once a thriving manufacturing area where an immigrant influx spurred the growth of the apparel industry, the Garment District, bounded roughly by Fifth and Ninth avenues and 34th and 42nd streets, by the 1990s had become one of the most depressed parts of Midtown Manhattan with the gradual loss of clothing factories, suppliers and wholesalers due to pressure from cheaper clothing imports.[/vc_column_text][/vc_column][/vc_row][vc_row css_animation=”” row_type=”row” use_row_as_full_screen_section=”no” type=”full_width” angled_section=”no” text_align=”left” background_image_as_pattern=”without_pattern”][vc_column][vc_column_text]VIEW FULL ARTICLE [/vc_column_text][/vc_column][/vc_row]

[vc_row css_animation=”” row_type=”row” use_row_as_full_screen_section=”no” type=”full_width” angled_section=”no” text_align=”left” background_image_as_pattern=”without_pattern”][vc_column][vc_column_text]Hidary recently supervised the nearly completed $2 million capital improvement and tenant build-out project at the newly purchased 53 West 36th Street. He joined Hidrock Realty in 2002 after graduating from Pace University. He discovered his niche when he worked on the renovation of a neglected 12-story, 60,000 s/f loft building, which had been recently purchased by Hidrock.[/vc_column_text][/vc_column][/vc_row][vc_row css_animation=”” row_type=”row” use_row_as_full_screen_section=”no” type=”full_width” angled_section=”no” text_align=”left” background_image_as_pattern=”without_pattern”][vc_column][vc_column_text]VIEW FULL ARTICLE [/vc_column_text][/vc_column][/vc_row]

[vc_row css_animation=”” row_type=”row” use_row_as_full_screen_section=”no” type=”full_width” angled_section=”no” text_align=”left” background_image_as_pattern=”without_pattern”][vc_column][vc_column_text]Hidrock Realty has negotiated a 97,846-square-foot lease at 186-196 Main Street in Paterson, New Jersey, for Apogee Retail, a national thrift store which sells unique clothing and household goods purchased from charities throughout the country, according to Abraham J. Hidary, president of Hidrock.[/vc_column_text][/vc_column][/vc_row][vc_row css_animation=”” row_type=”row” use_row_as_full_screen_section=”no” type=”full_width” angled_section=”no” text_align=”left” background_image_as_pattern=”without_pattern”][vc_column][vc_column_text]VIEW FULL ARTICLE [/vc_column_text][/vc_column][/vc_row]