NEW YORK CITY-The iconic department store will create a second Manhattan presence with a Downtown store at 504 Broadway. Ground will be broken in the spring and a fall 2003 opening is planned.

NEW YORK CITY- The United Arab Emirates, the African Union and the American University of Beirut each purchase a floor at 3 Dag Hammarskjold Plaza in the United Nations District. Asking prices for the space range from $415 to $500 per sf.

NEW YORK CITY-I/ESG continues its streak of high-profile assignments with the contract to manage Sumitomo Corp.'s 500,000-sf office tower. Sources tell GlobeSt.com CBRE coveted the job, which was formerly held by the Gale Co., but Insignia plucked the plum from an original list of five contenders.

NEW YORK CITY-Locally based real estate firm the Feil Organization and its partner Mall Properties acquire controlling interest in the nine-story vertical mall. Seller JEMB retains part ownership of the property.

NEW YORK CITY-The Long Island REIT sells off two Kmart-anchored shopping centers, one of which commanded the highest base rent of all the Kmart locations in its portfolio. Proceeds will go toward the acquisition of $300 million in shopping center assets.

NEW YORK CITY-The long-aborning sale of the 1 million-sf 1177 Avenue of the Americas building is finally a done deal. A joint venture of German and American investors has purchased the 47-story property from cash-strapped Japanese contractor Kumagai Gumi.

NEW YORK CITY-The locally based sale/leaseback specialist sells bonds backed by more than 60 properties crossing all real estate sectors and located across the US. W.P. Cary officials call the transaction "a watershed moment.

NEW YORK CITY-Derailed by the World Trade Center attacks, plans to convert part of the main US Post Office Building on Eighth Avenue and 33rd Street got a major boost yesterday. The development is expected to take roughly five years to complete.