Welcome to the September 28 edition of our Commercial Real Estate News.
As September comes to a close, we’re taking a look at the latest activity across New York City’s commercial real estate market, including office leasing, investment activity, development, and the trends shaping tenant demand.
Here’s a look at the CRE stories and market updates worth following this week..
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The Real Deal
Tishman Speyer Selling 148 Lafayette Street To Shorenstein – TRD
Nothing is Stopping Office-to-Resi Conversions in NYC – TRD
AI Leasing Race Heats Up Between New York And San Francisco – TRD
Nearly 5K NYC Buildings Losing Abatements by End of Decade – TRD
Vornado’s Penn District Leasing Momentum Picks Up – TRD
George Comfort Corrals $386M Loan to Refinance 200 Madison – TRD
The Commercial Observer
Two AI Companies Ink Full-Floor Deals at 61 West 23rd Street – Commercial Observer
AI Firm Rogo Technologies Doubles 360 Park Avenue South Footprint to 46K SF – Commercial Observer
Allied Global Marketing Renews 28K-SF Lease at the Woolworth Building – Commercial Observer
Distyl AI Doubles Its 135 Madison Offices to 30K SF After Less Than a Year – Commercial Observer
On, Sneaker Maker Beloved by Roger Federer and Kylian Mbappé, Moves NYC HQ to Penn 1 – Commercial Observer
Irish Arts Center Signs 4K-SF Lease at GFP’s 630 Ninth Avenue – Commercial Observer
Conduct AI Takes 7K SF at Capstone’s 140 Crosby Street for First U.S. Office – Commercial Observer
Nomic AI Inks 5K-SF Deal at 99 University Place Near Union Square – Commercial Observer
Cerity Partners Expands to 68K SF at Global Holdings’ 99 Park Avenue – Commercial Observer
Bisnow
Office Owners Pulling Back On Flexible Leases As AI Clouds Future Of Work – Bisnow
Marty Burger-L&L Venture Debuts With $245M Third Avenue Deal: The N.Y. Deal Sheet – Bisnow
Crain´s New York
Cerity Partners leases adds additional 19K at Global Holdings’ 99 Park Ave. – Crain’s New York Business
SL Green will sell an office building on SoHo’s utterly transformed Greene Street – Crain’s New York Business
Manhattan office rents soar, but Evercore ISI warns rising rates will devour gains – Crain’s New York Business
New York YIMBY
Chelsea Beacon Breaks Ground At 550 West 20th Street In Chelsea – New York YIMBY
750 Third Avenue’s 639-Unit Residential Conversion Progresses in Midtown East, Manhattan – New York YIMBY
Façade Installation Progresses on Lucien At 303 East 44th Street in Midtown East, Manhattan – New York YIMBY
LPC Approves Lobby Renovation At 30 Rockefeller Plaza In Midtown
Dyer Avenue Deck-Over Progresses for PABT Redevelopment in Midtown West, Manhattan – New York YIMBY
L&L Infinite Completes $245 Million Acquisition Of 600 Third Avenue
New York Post
Sephora moves to new Meatpacking home right next door to iconic Apple store – NY Post
Signs of life return to puzzlingly empty Midtown Sixth Avenue site – NY Post
New York Business Journal
Astor & Rowe to convert Midtown East office to 24 apartments – New York Business Journal
Normal Computing, Inspiren lease space in Flatiron District – New York Business Journal
L&L Infinite buys 600 Third Ave. for $245 million – New York Business Journal
Suburban coworking locations surge, urban sites lags – New York Business Journal
NYC to convert Gold Street office into 4,000 apartments – New York Business Journal
Distyl AI doubles office space in Midtown South – New York Business Journal
New York Commercial Real Estate News – New York Business Journal
