Schimenti Construction Company is in the midst of doing a total gut and reconstruction of a historic NYC building to create the first COS (Collection of Style) store in the U.S.
The building is located at 129 Spring St. Schimenti is turning the current structure, built in 1817, into a 7,600 s/f, five-story retail space while preserving the historic façade and windows. The project includes lowering the basement floor, excavating soil, removing the roof and installing a new elevator and a feature staircase.
Begun in May, the project is slated for completion this fall. The project architect is Office/AO Architecture PLLC of New York City.
COS is an H&M brand that features modern and functional design for women and men.
Norwich, CT Tim Hines of Horvath & Tremblay has facilitated the sale of 200 multi-family units totaling $16.24 million. Hines arranged the sale of an 83 unit multi-family portfolio in Cromwell, Middletown and Norwich, Conn. Horvath & Tremblay exclusively represented the seller and procured the buyer to complete the transaction at a sale price of $9 million.
Now what? As the year comes to a close, the state of retail is always in the news. The answers vary greatly depending on who in the various related industries you ask, each offering a unique lens on the challenges and opportunities ahead.
This may seem self-serving, and I’ll be the first to admit it. But unlike some of the artificial intelligence tools now reshaping our industry, I am fully aware of my own bias. So, hear me out. The rise of AI in commercial real estate is not a distant threat or a speculative headline.