Welcome to the November 2 edition of our CRE Newsletter
A new month is here, and there’s plenty happening across New York City’s commercial real estate market.
This week, we’re looking at the latest office leasing deals, investment activity, development updates, and market trends shaping NYC CRE as we head into November.
What we’re watching in NYC’s office market
Leasing activity continues to show that demand is there, but tenants are being selective about where and how they commit to space. For landlords, that makes building positioning, pricing, and understanding the needs of today’s tenants more important than ever.
Whether you’re evaluating a move or looking to improve your property’s leasing strategy, understanding these market shifts can make a real difference.
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Catch up on the stories making headlines and the developments worth keeping an eye on this week.
The Real Deal
Fintech firm adds 175K sf to Flatiron District office
Gary Barnett buys more air rights for 570 Fifth Ave project
Tishman teams with Dutch investor on office fund
$6B skyscraper: Price tag on JPMorgan’s 270 Park revealed
Savanna Staves Off Foreclosure Sale at 521 Fifth Avenue
Commercial Observer
Turner School Renews 8K-SF Lease at Feil’s 145 West 30th Street
Robely, U.S. Legwork Each Ink 5K-SF Deals at Rosen’s 37 West 37th Street
Blacksmith Software, Sona Technologies Lease 26K SF at Moinian’s 245 Fifth Avenue
Blood Cancer Nonprofit DKMS Takes 15K SF at 115 Broadway
Fintech Firm Ramp Adds Another 175K SF at 28-40 West 23rd Street
Industrial Color Expands to 59K SF at Rudin’s 32 Avenue of the Americas
Dolce & Gabbana Inks 21K-SF Office Lease at Feil’s 551 Fifth Avenue
Shorenstein Buys Fully Leased SoHo Office Property From Tishman Speyer
Takenaka Under Contract to Buy 1 Broadway for $170M
Leasehold at 71 Fifth Avenue Sells to Namdar Realty Group for $62M
Savanna, Deutsche Bank Pushing Off 521 Fifth Avenue’s Foreclosure Sale
Crain´s New York
Nonprofit, ad firm sign big leases amid surge of activity at FiDi office building
Fintech pay manager expands Midtown South footprint with 150K lease
Dolce & Gabbana inks lease for New York HQ at Fred F. French building
A law firm’s exodus could leave the GM Building’s owner scrambling to fill the void
Extell pays church $23.9M for air rights to supersize Fifth Avenue tower
Bisnow
Related, Oxford Land Tenant For Top Floors Of 70 Hudson Yards
$60B Fintech Ramp Inks Huge Expansion In Flatiron: The N.Y. Deal Sheet
Weil Gotshal Wind-Down Leaves 830K SF Hole In America’s Office Market
Bouwinvest, Tishman Speyer Launch U.S. Office Venture With Chrysler Building As Debut Deal
New York Business Journal
Tishman Speyer flips SoHo office building for $132.5M after 16-month hold
Manhattan office leasing surpasses pre-pandemic levels
Dolce & Gabbana relocating NYC headquarters to 551 Fifth Ave.
French skincare company, historic synagogue sign leases at Flatiron office building
Landesbank Baden-Württemberg moves to Avenue of the Americas – New York Business Journal
New York YIMBY
350 Park Avenue’s Developers Close on Agreement, Loan for 1,400-Foot Supertall in Midtown East, Manhattan
Renderings Revealed For 260 Madison Avenue Renovation In Midtown, Manhattan
Wall Street Journal
NYC’s Office-Conversion Projects Are Back After a Big Summer Scare
JPMorgan’s Skyscraper on Park Avenue Estimated to Cost Around $6 Billion
