Prepared by Richard Plehn
Welcome to the Weekly Real Estate news!
In this first issue of March, we’re bringing you the latest updates on New York’s commercial real estate market. From major office leases to significant development projects, this edition highlights key transactions and emerging trends shaping the industry. Stay informed with the latest updates driving the industry forward.
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The Real Deal
Congestion Pricing Results Validate Real Estate’s Support – TRD
Aby Rosen Pulls Another NYC Office Building Back From Brink – TRD
Howard Lutnick Shakes Up Newmark Leadership – TRD
Olshan Properties Founder Mort Olshan Dies at 99 – TRD
Rent-stabilized Building Sells At 97% Below Pre-2019 Value – TRD
New York City to Shutter Migrant Shelter, Pose Redev – TRD
Lending Boss Departs A&E After Leadership Shakeup – TRD
Fitch Downgrades Brookfield Portion of New York Times Building – TRD
REBNY, Tenant Advocates Meet to Discuss Federal Policy – TRD
Bisnow
Mort Olshan, Founder Of Olshan Properties And Yankees Part Owner, Dies At 99 – Bisnow
This Week’s N.Y. Deal Sheet: RFR Dodges Fifth Avenue Foreclosure With $160M Recap (February 2, 2025) – Bisnow
New York Business Journal
Extell to demolish Wellington Hotel, build mixed-use tower in Midtown – New York Business Journal
Gitano NYC to open at Pier 17 – New York Business Journal
Office valuations drop; where DOGE may cut GSA space first – New York Business Journal
SoHo Live to open at Live Axe site – New York Business Journal
Accrete increases footprint at FiDi tower – New York Business Journal
Spear Street Capital acquires garage-to-office conversion property in SoHo – New York Business Journal
CommercialEdge: CBD office prices plummet 60% in five years – New York Business Journal
Forte Capital Group moving to One Seaport Plaza – New York Business Journal
Larger leases fuel Manhattan retail activity, says REBNY report – New York Business Journal
Oiji STK to open in Midtown South – New York Business Journal
Roosevelt Hotel to close migrant center; redevelopment may be next – New York Business Journal
The Commercial Observer
Vendor Manager Concertiv Takes 11K SF at PGIM’s 180 Madison – Commercial Observer
Financial Firms Forte Capital, ACI Ink Deals at One Seaport Plaza – Commercial Observer
Did Downtown Miss Out on Manhattan’s Office Market Recovery? – Commercial Observer
Architecture and Design Firm FCA Moves to 6K SF at 261 Fifth Avenue – Commercial Observer
AI Company Accrete Expands to 14K SF at RFR’s 17 State Street – Commercial Observer
Law Firm Knobbe Martens Takes Over 27K SF From Penguin Random House at 1745 Broadway – Commercial Observer
Tech Firm Communify Takes 12K SF at Cohen Brothers’ International Plaza – Commercial Observer
Crain´s New York
Manhattan office buildings can make millions by changing their address | Crain’s New York Business
New York Times building faces tough refinancing | Crain’s New York Business
Retail leasing has picked up on Fifth Avenue after a long cold spell | Crain’s New York Business
NYC office buildings see resurgence as investors pile into bonds | Crain’s New York Business
NYC Deals of the Day: Feb. 28, 2025 | Crain’s New York Business
Kushner Cos. acquires almost 40% stake in Lincoln Square school building for $10.4 million | Crain’s New York Business
Big Midtown landlord forecasts steep decline in 2025 earnings | Crain’s New York Business
New York YIMBY
Two-Tower Development Rises Higher at 80 Clarkson Street in West Village, Manhattan – New York YIMBY
Excavation Begins for 570 Fifth Avenue Skyscraper in Midtown, Manhattan – New York YIMBY
Walker & Dunlop Secures $200M Loan Restructure For Prince Building
Renovation Work Continues on Morgan Stanley HQ at 1585 Broadway in Times Square, Manhattan – New York YIMBY
Foundation Underway at 611 Eleventh Avenue in Hell’s Kitchen, Manhattan – New York YIMBY
New York Post
Wall Street Journal
The Investor Who Won Big on Zombie Malls Is Going All In on Empty Offices – WSJ
