The Manhattan office market is still wallowing in a slowdown that is expected to continue, though many brokers bet Midtown South neighborhoods will weather the storm better than their neighbors to the north and south, a shift largely attributed to its lower rents.

The Jeweler Town of New York, a jeweler, has leased approximately 500 s/f of retail space at 372 Fifth Avenue, announces Abraham J. Hidary, president of Hidrock. The asking price was $200 per square foot.

Featuring Abraham and Eddie Hidary

Injecting new life and vigor into older buildings was the topic of a presentation by Abraham and Eddie Hidary, president and chief operating officer respectively, of Hidrock Realty, at the recent Commercial Real Estate Due Diligence Conference, held at the Harmonie Club. They covered a broad range of topics, including tenant relations, lobby design and the demolition of old spaces and uses.

Cititailor, which makes and sells custom clothing for men and women, leased 1,400 sf
for its second location at 29 East 61st Street. Cititailor, in business for three decades,
will take immediate occupancy of its new space for a term of five years. The retailer is
also located at 675 Madison Avenue.

Only eight months after Hidrock Realty purchased the 12-story office building at 53
West 36th Street, the firm is near completion of a $2 million capital improvement and tenant build-out project, according to Abraham J. Hidary, president of Hidrock Realty,
the building’s landlord.

The renovations include a new lobby, a modernized elevator system with new cabs,
a new roof and new windows. Hidrock also remodeled the common public corridors and bathrooms on multi-tenanted floors and completed build-outs for all full-floor tenants.

Dinko Nikolic has joined Hidrock Realty as the firm’s controller. In his new role, Mr. Nikolic will oversee all of Hidrock’s financial and reporting activities, including the preparation of financial statements, capital account reports, project budgets, monthly and quarterly reports for institutional partners, and annual audit, tax returns and forecasts.