Prepared by Richard Plehn
Welcome to the Weekly Real Estate Newsletter! In this June 16, 2025 edition, we’re sharing the latest developments in New York’s commercial real estate market — including major lease agreements, upcoming projects, and shifting market dynamics. Whether you’re keeping tabs on top transactions or looking for expert insights, this roundup delivers the essential updates driving the industry across the five boroughs and surrounding areas.
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The Real Deal
SL Green Puts Pair of Properties on the Market – TRD
Samsung Doubles Down at Vornado’s Penn 1 – TRD
Blackstone’s Deal With Fisher Values 1345 Sixth Ave at $1.4B – TRD
Related Looking to Sell Portion of 35 Hudson Yards – TRD
Safra’s AVRS Backs Vanbarton Group Office Conversions – TRD
Kering Considering Stake Sale at 717 Fifth Avenue – TRD
Chetrit Org Lands Members-Only Club for Soho Building – TRD
Paramount Global Puts 355K SF on Sublease Market – TRD
Joe Moinian Loses Midtown Hilton Garden Inn To Mezz Lender – TRD
Tavros, Charney Land $525M for 55-Story LIC Project – TRD
Clipper Sells Upper West Side Rent-Stabilized Building – TRD
Ben Ashkenazy Amasses $750M War Chest for Acquisitions – TRD
Office Activity Has Come Back in NYC & Miami, Not Elsewhere – TRD
New York Bans Rent-Setting Software – TRD
Bisnow
Billionaire Property Mogul Ben Ashkenazy Raises $750M For Comeback – Bisnow
Hudson Yards To Get More Affordable Housing As Related, Adams Strike Deal – Bisnow
Investors In Once-AAA-Rated Bond Tied To Shorenstein Tower Could Face Losses: Fitch – Bisnow
This Week’s N.Y. Deal Sheet: Blackstone Buys Into 1345 Sixth Ave. At $1.4B Valuation (June 10, 2025) – Bisnow
One Year Postbankruptcy, WeWork Is Profitable, Mature And Growing Again – Bisnow
New York Business Journal
NYC Human Resources Administration seeks new office space – New York Business Journal
Wilson Daniels takes new space in Flatiron District – New York Business Journal
Lender sees few ‘easy’ Manhattan office-to-resi conversions left – New York Business Journal
Tom Ford to relocate New York City headquarters – New York Business Journal
Charles Tyrwhitt to move Madison Avenue store – New York Business Journal
Paramount Global to sublease 355,000 square feet in Midtown – New York Business Journal
Spa Lala kids’ hair salon to open in Manhattan’s Flatiron District – New York Business Journal
AIA index shows prolonged slump in architecture-firm activity – New York Business Journal
Figma’s NYC office footprint to reach 100,000 square feet – New York Business Journal
Center for NYC Neighborhoods takes office space in FiDi – New York Business Journal
WatchHouse opens second NYC coffee shop in Chrysler Building – New York Business Journal
Surmount doubles NYC footprint with 30,000-square-foot lease – New York Business Journal
Studio Pilates International to open first Manhattan location – New York Business Journal
Manhattan tech real estate surges with best start to year since 2000 – New York Business Journal
The Commercial Observer
Brookfield Closing In on Equity Investment in 63 Madison Avenue – Commercial Observer
Wine Distributor Wilson Daniels Signs 12K-SF Lease at 250 Park Avenue South – Commercial Observer
SL Green Looking to Sell Two Manhattan Buildings for Combined $300M – Commercial Observer
Developer Southern Land Company Takes 13K SF at 99 Park Avenue – Commercial Observer
Menswear Brand Charles Tyrwhitt Signs 4K-SF Lease at 477 Madison Avenue – Commercial Observer
Tom Ford Fashion Takes 11K-SF Lease at 500 Park Avenue – Commercial Observer
The Bit Apple: What Cryptocurrency Firms Want in New York Office Space – Commercial Observer
Media Company Paramount Global Subleasing 355K SF of Office in Manhattan – Commercial Observer
Two Tenants Sign 14K SF in Leases at 60 Broad Street – Commercial Observer
EMP Capital Secures $40M Refi for Crown Heights Commercial Condos – Commercial Observer
New York Cancer & Blood Specialists Signs Lease at 210 East 86th Street – Commercial Observer
CRE Firm Surmount Signs 30K Lease at 1185 Avenue of the Americas – Commercial Observer
Jewish Broadcasting Service Extends 4K-SF Lease at 1560 Broadway – Commercial Observer
Crain´s New York
SL Green looking to sell Midtown, SoHo buildings | Crain’s New York Business
NYC Deals of the Day: June 6, 2025 | Crain’s New York Business
Equinox gym, hotel in Hudson Yards eyed for sale | Crain’s New York Business
20 Exchange Place loses massive tenant as ‘Life and Trust’ play closes | Crain’s New York Business
NYC Deals of the Day: June 10, 2025 | Crain’s New York Business
New York’s broker fee ban takes effect June 11, 2025. Here’s what to know. | Crain’s New York Business
Manhattan rent sets record for third time in four months | Crain’s New York Business
NYC Deals of the Day: June 13, 2025 | Crain’s New York Business
New York YIMBY
1 Park Row’s Façade Nears Completion in Financial District, Manhattan – New York YIMBY
1522 First Avenue Wraps Up Construction on Manhattan’s Upper East Side – New York YIMBY
Superstructure Rising at 500 East 81st Street on Manhattan’s Upper East Side – New York YIMBY
201-207 Seventh Avenue’s Façade Nears Completion in Chelsea, Manhattan – New York YIMBY
Linden Lane’s Exterior Nears Completion At 349 West 51st Street in Hell’s Kitchen, Manhattan – New York YIMBY
New Renderings Released For Mabel And Anagram Turtle Bay
Demolition Wrapping Up At 1655 First Avenue on Manhattan’s Upper East Side – New York YIMBY
Construction Nears Completion on 125 West 57th Street in Midtown, Manhattan – New York YIMBY
Permits Filed for 298 Bowery in Noho, Manhattan – New York YIMBY
Construction Progresses on The Lirio at 364 West 54th Street in Hell’s Kitchen, Manhattan – New York YIMBY
Excavation Continues for KPF-Designed Skyscraper at 570 Fifth Avenue in Midtown, Manhattan – New York YIMBY
Hudson Yards West To Increase Affordable Housing Units By 50%
Construction Moving Along at ODA’s 126 East 57th Street in Midtown East, Manhattan – New York YIMBY
321 West 38th Street Nears Completion in Midtown, Manhattan – New York YIMBY
The Breuer Building Quietly Begins Its Commercial Transformation At 945 Madison Avenue on Manhattan’s Upper East Side – New York YIMBY
Rendering Revealed for 140 Lexington Avenue in Rose Hill, Manhattan – New York YIMBY
70 Hudson Yards Breaks Ground in Hudson Yards, Manhattan – New York YIMBY
New York Post
Big Apple office conversions seen cutting inventory by nearly 4% – NY Post
Crucial NYC tax credit for downtown Manhattan gets last-minute renewal – NY Post
New homes for Charles Tyrwhitt, Tom Ford – NY Post
Exclusive | Controversial tax credit to save Downtown Manhattan on verge of getting renewed: sources – NY Post
