Prepared by the Richard Plehn team
Welcome to the end-of-month edition of our newsletter. This issue highlights the latest leasing activity, development updates, and market trends shaping New York City’s commercial real estate landscape. As the first quarter of 2026 wraps up, we’re taking a look at the major office deals and projects moving forward across the boroughs — and what they tell us about where the market is heading.
Also new on the website: watch our latest Real Estate Rundown interview featuring Evan Schneider.
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The Real Deal
Two Sigma, Kaufman Investments Pay $52M for Flatiron Office – TRD
Thor Drops $56M on MoMad Office, Retail Building – TRD
SL Green nears $1.7B refi at One Madison – TRD
NYC’s Top Construction Permits of the Week: March 20, 2026 – TRD
Bisnow
SL Green, Partners To Cash Out $308M From Huge One Madison Loan – Bisnow
Judge Dismisses Fraud Claims Against Shvo In Core Club Dispute – Bisnow
Paragon Building In LIC Sells At 56% Discount: The N.Y. Deal Sheet (March 24, 2026) – Bisnow
The Commercial Observer
BFC Partners Inks 14K-SF Lease at RFR’s 17 State Street – Commercial Observer
Construction Management Firm J Companies Takes 5K SF at 18 East 41st Street – Commercial Observer
Headlands Technologies, MFA Financial Ink 12K-SF Leases at 520 Fifth Avenue – Commercial Observer
French Crypto Company Ledger to Open First NYC Office at 817 Broadway – Commercial Observer
Hudson Companies, Broadway Builders Ink 18K-SF Lease at 902 Broadway – Commercial Observer
Fintech Firm VCT Holdings Inks 35K-SF Lease at One Seaport Plaza – Commercial Observer
Melius AI Leases 5K SF at 205 West 28th Street – Commercial Observer
Data Security Firm AvePoint Inks 8K-SF Lease at Vornado’s Penn 2 – Commercial Observer
Crain´s New York
Foreclosure likely for 390 Fifth Ave. after court ruling – Crain’s New York Business
Nan Xiang Soup Dumplings leases full building in Times Square – Crain’s New York Business
CIM group sells 88 University Place – Crain’s New York Business
New York Business Journal
Delmonico’s to open Midtown restaurant at 1330 Sixth Avenue – New York Business Journal
The math behind MoMath’s new location – New York Business Journal
Uber expands to over 500,000 square feet at World Trade Center – New York Business Journal
Babylist to open first NYC store in SoHo – New York Business Journal
New York Post
Uber expansion at 3 World Trade Center a boon to local economy – NY Post
Delmonico’s eyes another potential Midtown NYC expansion – NY Post
New York YIMBY
45 White Street Acquired In Tribeca, Manhattan – New York YIMBY
LPC To Review Proposal For Upgrades At Stuyvesant Square East – New York YIMBY
Foundations Underway for KPF-Designed Office Skyscraper at 343 Madison Avenue in Midtown East, Manhattan – New York YIMBY
Demolition Prep Underway for 37-Story Skyscraper at 1491-1497 Third Avenue on Manhattan’s Upper East Side – New York YIMBY
Permits Filed for 116 Delancey Street on the Lower East Side of Manhattan – New York YIMBY
Scaffolding Removal Begins On The Flatiron Building in Manhattan’s Flatiron District – New York YIMBY
Wall Street Journal
Exclusive | America’s Original Steakhouse Delmonico’s Is Expanding—After Nearly 200 Years – WSJ
