Prepared by Richard Plehn
Greetings, and welcome to our early December 2023 edition of the Real Estate Newsletter! As we step into the final month of the year, the real estate landscape continues to intrigue and inspire with its unwavering resilience and adaptive spirit. Throughout the past eleven months, we’ve witnessed the market navigate through twists and turns, presenting opportunities, challenges, and a myriad of changes. In this issue, we aim to provide you with comprehensive insights, trends, and updates that have shaped the industry in 2023, setting the stage for what promises to be an intriguing start to a new year in real estate.
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Bisnow
Former SquareFoot CEO, Savills President Joining JLL (bisnow.com
Different By Design: 32 Old Slip, A Flexible Waterfront Office Space For Lease On NYC’s Famed Water Street Corridor (bisnow.com)
Textile Building Lands Large Law Firm Lease After $350M Renovation (bisnow.com)
Hudson Yards, One Vanderbilt Reportedly Got Fast-Tracked Inspections At Adams’ Office’s Request (bisnow.com)
Co-Owner Of Chrysler Building Files For Insolvency (bisnow.com)
Manhattan Office Availability Ticked Back Up In November With Dearth Of Big Deals (bisnow.com)
Real Deal
Full Month Passes With No Big Manhattan Office Leases Signed (therealdeal.com)
Heirs Sue Solil Management’s Jane Goldman in Family Feud (therealdeal.com)
Commercial Observer
Actors Federal Credit Union Expands to 11K-SF at 1560 Broadway – Commercial Observer
Production Company Kinolime Signs on for 5K-SF at Industry City – Commercial Observer
Crain’s New York
Manhattan office leasing on pace for slower 2023 than 2022 | Crain’s New York Business (crainsnewyork.com)
Billionaire Reuben Brothers move to seize Manhattan’s Chatwal hotel | Crain’s New York Business (crainsnewyork.com)
Billionaire Reuben Brothers move to seize Manhattan’s Chatwal hotel | Crain’s New York Business (crainsnewyork.com)
REBNY vows to fight suit alleging breach of antitrust statutes | Crain’s New York Business (crainsnewyork.com)
New York Post
SL Green boosts portfolio with deals at Park Ave. office towers (nypost.com)
Architects are chopping up NYC offices to add more floors for apartments (nypost.com)
Wall Street Journal
Office Landlords Can’t Get a Loan Anymore – WSJ
Think Companies Are Struggling to Fill Offices? Look at the Government – WSJ
Office Stocks Post Biggest Rally in Three Years. Their Real-Estate Problems Remain. – WSJ
New York YIMBY
YIMBY Tours Terminal Warehouse At 261 Eleventh Avenue in West Chelsea, Manhattan – New York YIMBY
Wells Fargo Announces Hudson Yards Expansion In Manhattan (newyorkyimby.com)
Weill Cornell Medicine Announces Research Center At 1334 York Avenue (newyorkyimby.com)
New York YIMBY’s 2023 Third-Quarter Construction Report Shows Sustained Strong Permit Filing Activity – New York YIMBY
