Prepared by Richard Plehn
Welcome to the September 2 edition of our Weekly Commercial Real Estate Roundup! Kicking off the first issue of the month, we’re excited to bring you the freshest updates on market trends, major deal breakdowns, and key developments shaping the commercial real estate arena.
From cutting-edge strategies in office environments to significant transactions in the retail and industrial sectors, our detailed analysis equips you with the insights needed to stay ahead in this fast-paced industry. Join us as we dive into the market forces and standout deals driving the landscape this week.
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Wall Street Journal
The Anti-Adam Neumann of the Co-Working Industry – WSJ
Rockefeller Center Reinvention Aims to Buck Midtown Malaise – WSJ
Exclusive | Arizona Deal Latest Sign of Booming Demand for Sites to Power AI – WSJ
Apartment Construction Is Slowing, and Investors Are Betting on Higher Rents – WSJ
Work Group Strategies
GM Orders More White-Collar Workers Back Into The Office (gmauthority.com)
Five Experts on What We’ve Learned about Returning to the Office | Time
To mandate or not to mandate? How to lure employees back to the office | The Seattle Times
Brokerages Turn to AI to Gain Advantages – Banker & Tradesman (bankerandtradesman.com)
Top 16 Use Cases and Real World Examples of AI in Real Estate (appinventiv.com)
The Real Deal
Related, Wynn Unveil Plan for Hudson Yards Casino Development (therealdeal.com)
Cushman, Cappelli sued for LGBTQ, antisemitic discrimination (therealdeal.com)
Sugar Hill Loses Rent-stabilized Harlem Building to Foreclosure (therealdeal.com)
John Catsimatidis Gets Jeanne D’Arc Residence in $23 Million Deal (therealdeal.com)
Foot Locker Walks Away from Vornado-owned NYC Headquarters (therealdeal.com)
Yitzchak Tessler Puts 172 Madison Units Into Bankruptcy Again (therealdeal.com)
Brodsky’s Flatiron Building Conversion Comes Into Focus (therealdeal.com)
Bisnow
Adams Reportedly Directs Agencies To Cut City’s 550-Property Office Footprint (bisnow.com)
The Ghost Of Office Past, Present And Future: How Landlords Are Managing After WeWork’s Bankruptcy (bisnow.com)
This Week’s N.Y. Deal Sheet (August 8, 2024) (bisnow.com)
20 Broad St. On Verge Of Default In What Could Be An Omen For Other Office-To-Residential Projects (bisnow.com)
The Commercial Observer
E.l.f Beauty Expanding by 26K SF at 16 West 22nd Street – Commercial Observer
Wellcom Worldwide Signs 24K-SF Lease at 16 Madison Square West – Commercial Observer
Adams Administration Looks to Reduce NYC’s Office Footprint – Commercial Observer
NYC Poison Control Center Eyes 215 Lexington Avenue as Office Antidote – Commercial Observer
Injective Labs Moving to Bigger Offices at 205 West 28th Street – Commercial Observer
Why the Manhattan Office Leasing Market Has Been So Busy This Summer – Commercial Observer
Crain´s New York
In the Markets: BXP bucks conventional wisdom about interest rates | (crainsnewyork.com)
Prominent Chinese husband-and-wife artists snap up second SoHo spread | (crainsnewyork.com)
NYC Deals of the Day: Aug. 30, 2024 | (crainsnewyork.com)
Nasdaq to vacate former Times Square headquarters | (crainsnewyork.com)
New York YIMBY
New Lease Signed At 205 W 28th Street In Chelsea, Manhattan (newyorkyimby.com)
New Renderings Showcase Related Companies and Wynn Resorts’ Master Plan for Phase Two of Hudson Yards – New York YIMBY
Vuori Opens New Storefront At 120 Fifth Avenue In Union Square (newyorkyimby.com)
520 Fifth Avenue Approaches Final Set of Floors in Midtown, Manhattan – New York YIMBY
25 Water Street’s Residential Conversion and Expansion Progresses in Financial District, Manhattan – New York YIMBY
Permits Filed for 66 University Place in Greenwich Village, Manhattan – New York YIMBY
Construction Goes Vertical on 68-Story Skyscraper at 100 West 37th Street in Midtown, Manhattan – New York YIMBY
