Prepared by Richard Plehn
Welcome to the Weekly Real Estate news!
Kicking off our first issue of February, we’re covering the latest developments in New York’s dynamic commercial real estate market. From significant office leases to transformative projects, this week’s update highlights the key trends and transactions shaping the city’s skyline and influencing markets beyond the Big Apple. Stay tuned for all the insights you need to stay ahead.
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The Real Deal
BCN ’s Craig Nassi Eyes Office-To-Resi Conversion – TRD
Cushman Fires Back at JRT Realty Corruption Lawsuit – TRD
Eliot Spitzer Shopping 208-Unit UES Rental Building – TRD
A Suspicious Property Flip of a Midtown East Townhouse – TRD
Spectrum Reach Takes Signs Lease at 3 Times Square – TRD
Bisnow
This Week’s N.Y. Deal Sheet: IBM Expands At SL Green’s One Madison (January 1, 2025) – Bisnow
Cushman & Wakefield Seeks To Dismiss Lawsuit Over NYC Leasing Contract – Bisnow
Interest In NYC Office Space Is Back To Prepandemic Levels – Bisnow
Owners Of Not-Quite-Trophy Buildings Getting More Malleable To Compete For Tenants – Bisnow
Blackstone’s Gray Says ‘Office Has Bottomed,’ Eyes 1.5M SF Manhattan Tower – Bisnow
While The NYC Office Market May Look Challenged, A Cushman & Wakefield Report Tells A Different Story – Bisnow
RFR Evicted From Chrysler Building, Ending Feud With Cooper Union – Bisnow
New York Business Journal
4 apparel companies ink new leases in Manhattan’s Garment District – New York Business Journal
GuideWell to lay off hundreds; Truist looks for growth in three states – New York Business Journal
Vinile Italian Chophouse to open at former Aldea location – New York Business Journal
Spectrum Reach to move NYC headquarters to 3 Times Square – New York Business Journal
460 Park Avenue set for $200M office renovation with tax breaks – New York Business Journal
Cole Haan to open third NYC store in Flatiron District – New York Business Journal
SharkNinja to open New York City office – New York Business Journal
Schmackary’s to open location in Union Square – New York Business Journal
Venezuelan café and cocktail bar Lulla’s to open in Williamsburg – New York Business Journal
SoMA, the US’ largest office-to-residential conversion, starts leasing – New York Business Journal
The Commercial Observer
Bra Maker Ariela & Associates Inks 27K-SF Lease at 218 West 40th Street – Commercial Observer
Finance Company BasePoint Expands to 20K SF at 75 Rockefeller Plaza – Commercial Observer
Outerwear Maker S. Rothschild Renews 47K-SF Space at 1407 Broadway – Commercial Observer
Consulting Firm Gardiner & Theobald Keeps 28K SF at 535-545 Fifth Avenue – Commercial Observer
Financial Services Firm ISS Moving to 1156 Avenue of the Americas – Commercial Observer
NYC’s Independent Budget Office Requests 19K-SF Office at One Battery Park Plaza – Commercial Observer
The Office Market’s Busiest Side Hustle: Renting Out Amenity Space – Commercial Observer
New York Office Owners’ Financials Under Sharper Scrutiny – Commercial Observer
Advertising Firm Spectrum Reach Moving HQ to 56K SF at Rudin’s 3 Times Square – Commercial Observer
Appliances Company SharkNinja Takes 14K SF at Rudin’s 41 Madison Avenue – Commercial Observer
Crain´s New York
NYC Deals of the Day: Jan. 24, 2025 | Crain’s New York Business
Paramount Group sells 45% of 900 Third Ave. | Crain’s New York Business
NYC Deals of the Day: Jan. 27, 2025 | Crain’s New York Business
Cushman & Wakefield moves to dismiss suit claiming corruption in city leases | Crain’s New York Business
BXP warns of falling cash flow and occupancy in 2025 | Crain’s New York Business
RFR has been evicted from Chrysler Building | Crain’s New York Business
Blackstone set to buy 1345 Sixth Ave. | Crain’s New York Business
New York Post
Could MidSo become the next FiDi? – NY Post
Exclusive | This is the highest pool in Manhattan – NY Post
Office-to-apartment conversions booming NYC thanks to new city measures – NY Post
New York YIMBY
LPC Reviewing Proposal For 122-128 West 3rd Street In South Village – NY YIMBY
Two-Skyscraper Proposal Revealed For 629 West 54th Street, 801 Eleventh Avenue in Hell’s Kitchen, Manhattan – New York YIMBY
LPC To Review Proposal For Renovation Of Grace Church – NY YIMBY
Façade Installation Begins on 525 Sixth Avenue in Greenwich Village, Manhattan – New York YIMBY
Permits Filed for 116 West 28th Street in Chelsea, Manhattan – New York YIMBY
222 LES Tower + Lofts Reaches Completion In Lower East Side – NY YIMBY
18 West 55th Street’s Façade Continues to Progress in Midtown, Manhattan – New York YIMBY
Permits Filed for 51 Little West 12th Street in the West Village, Manhattan – New York YIMBY
Wall Street Journal
Investors Who Shunned the U.S. Office Market Are Coming Back – WSJ
