Prepared by the Richard Plehn team
Welcome to the May 4 edition of our newsletter — the first issue of the month.
As May begins, we’re highlighting the latest leasing activity, development updates, and market trends shaping New York City’s commercial real estate landscape. From new office transactions to projects continuing to move forward across the boroughs, this week’s issue offers a snapshot of the deals and developments driving the market.
Below is a roundup of the key CRE headlines and stories making an impact across NYC this week.
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The Real Deal
Moloco Inks Sublease At 2 Gansevoort Amid AI Lease Boom – TRD
New York Top Real Estate Deals: Friday, April 24, 2026 – TRD
Former Meta, Buzzfeed Home May Be Next Conversion Candidate – TRD
Long-Time Tenant Expands by 44K SF at 1 World Trade Center – TRD
SL Green Teams Up With Hyundai On 15 Laight Street – TRD
New York City’s Top Construction Permits: April 24, 2026 – TRD
Anthropic Eyes 466K SF Lease for Full Hudson Square Building – TRD
New York Top Real Estate Deals: Thursday, April 30, 2026 – TRD
Steve Madden Walks Into 60K SF at ESRT’s 501 Seventh Avenue – TRD
Midtown South Dominates April Leasing Activity – TRD
Bisnow
Hyundai Taps REIT To Find Tenants For $274M Building It Never Occupied – Bisnow
Sovereign, HudsonPoint Buy 575 Fifth Ave. For $378M: The N.Y. Deal Sheet (April 28, 2026) – Bisnow
REPORT: Anthropic Closing In On Full-Building Lease In Hudson Square – Bisnow
The Commercial Observer
AI Platform Spade Data Inks 7K-SF Lease at 155 West 23rd Street – Commercial Observer
Energy Capital Partners Expands to 70K SF at One World Trade Center – Commercial Observer
Artificial Intelligence Firm Moloco Secures 25K SF at 2 Gansevoort Street – Commercial Observer
New York City’s Class B and C Office Recovery Is Real — and Accelerating – Commercial Observer
Canadian Men’s Fashion Brand Jack Victor Expands to 11K SF at 8 West 40th Street – Commercial Observer
The Office Operating Model That Converts Uncertainty Into Occupancy – Commercial Observer
Data Center Developer Cipher Digital Signs 26K-SF Lease at 101 Park Avenue – Commercial Observer
Self-Care Brand Athena Club Relocates HQ to 12K SF at 140 Broadway – Commercial Observer
Marketing Agency Sportfive Inks 18K-SF Lease at RFR’s 477 Madison Avenue – Commercial Observer
Fashion Designer Pamella Roland Takes 10K-SF Office at 462 Seventh Avenue – Commercial Observer
U.S. News & World Report Relocates Offices to 10K SF at Vanbarton’s 31 Penn Plaza – Commercial Observer
Lighting Design Firm Tillotson Renews 5K-SF Office Lease at GFP’s 40 Worth Street – Commercial Observer
AI Giant Anthropic Near Deal to Lease All of 330 Hudson Street – Commercial Observer
Steve Madden Inks 60K-SF Office Lease at ESRT’s 501 Seventh Avenue – Commercial Observer
Manhattan Office Demand Surpasses Averages With 3.6M SF Leased in April – Commercial Observer
Law Firm Cleary Gottlieb Inks 475K-SF Lease at Brookfield’s One Liberty Plaza – Commercial Observer
Health Platform Tennr Takes 125K SF at Hudson Square Properties’ 345 Hudson Street – Commercial Observer
Events Company Skylight Expands By 11K SF at Two Trees’ Refinery at Domino – Commercial Observer
Jump Trading Inks 99K SF at Related Companies’ 50 Hudson Yards – Commercial Observer
AI Firm Sierra Signs 94K-SF Deal at Rockrose’s 11 East 26th Street – Commercial Observer
Crain´s New York
Spades Data signs full-floor lease at 155 W. 23rd St. – Crain’s New York Business
Lenders agree to conversion plan for 233 Park Avenue South office tower – Crain’s New York Business
Athena Club signs lease to more than double its Manhattan HQ – Crain’s New York Business
Sportfive signs full-floor lease at RFR’s 477 Madison Ave. – Crain’s New York Business
SL Green partners with Hyundai Motor Group at 15 Laight St. – Crain’s New York Business
Study shows widening gap in rents at Manhattan office buildings – Crain’s New York Business
Premier Equities sells NoMad office building – Crain’s New York Business
Vornado expands Park Avenue portfolio with another acquisition – Crain’s New York Business
Empire State Building reports strong results but investors aren’t impressed – Crain’s New York Business
Hikari Power Z acquires multifamily building for $15.2M – Crain’s New York Business
Colliers report finds two 100K+ office leases drove activity in April – Crain’s New York Business
New York Business Journal
Moinian Group converting 17 Battery Place office to apartments – New York Business Journal
Sportfive takes full floor at 477 Madison Ave. – New York Business Journal
Vornado Realty Trust acquires 49% stake in Park Avenue Plaza – New York Business Journal
AI firms eclipse 2025 NYC office leasing – New York Business Journal
Chainguard opens first office in NYC; remote work stays optional – New York Business Journal
New York YIMBY
Retrofit Begins For Nomad Tower At 1250 Broadway In Manhattan – NY YIMBY
Renderings Revealed For 625 Madison Avenue In Midtown, Manhattan – NY YIMBY
Wall Street Journal
Why AI Startup Offices in NYC Are Flashy but Mostly Empty – WSJ
New York Post
Third Avenue’s resurgence continuing with commercial, residential projects – NY Post
Cushman & Wakefield’s 101 Park Ave. at 98% after three new leases – NY Post
One Liberty tenant Cleary Gottlieb renews lease – NY Post
World Trade Center now rivals Midtown’s prime corridors as leasing frenzy boosts asking rents – NY Post
