Welcome to the May 26 edition of our newsletter.
As we close out the month, we’re highlighting the latest leasing activity, development updates, and market trends shaping New York City’s commercial real estate landscape. From notable office transactions to projects advancing across the boroughs, this issue provides a snapshot of the deals and developments currently driving the market.
Also now available on our website: the Q1 2026 Manhattan Office Market Report, featuring the latest leasing statistics, vacancy trends, asking rents, and key insights into the state of the Manhattan office market.
Below, you’ll find a roundup of the key CRE headlines and developments making an impact across NYC this week.
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The Real Deal
PBC Inks 120K SF Lease at 10 Bryant – TRD
New York’s Budget Impact on the Real Estate Industry – TRD
Tishman Speyer Puts in $20M to Secure Jacx Loan Extension – TRD
Former Gucci Headquarters at 685 Fifth Transfers – TRD
New York City’s Top Construction Permits: May 15, 2026 – TRD
Law Firms Keep Manhattan’s Office Market Humming – TRD
The Commercial Observer
Law Firm Baker McKenzie Expands to 122K SF at 10 Bryant Park – Commercial Observer
NYC Employee Retirement System Renews 35K SF at The Factory in LIC – Commercial Observer
Designer Daniel Romualdez Moves to 6K SF at Joseph P. Day’s 10 East 40th Street – Commercial Observer
Accounting Firm Prosperity Partners Signs 24K-SF Lease at 575 Madison Avenue – Commercial Observer
Tech Firm Profound Inks 30K-SF Deal at GFP’s 5-9 Union Square West – Commercial Observer
AI Is in the Office in New York, and Other Observations – Commercial Observer
Ally Bridge Group Signs 6K-SF Deal at Rudin’s 560 Lexington Avenue – Commercial Observer
Broadway Theater Owner Shubert Organization Takes 14K SF at GFP’s 520 Eighth Avenue – Commercial Observer
Robotics Firms Möbius, Alquist Ink 10K SF of New Leases at Brooklyn’s Industry City – Commercial Observer
AI Marketing Platform Hightouch Takes 18K SF at 275 Seventh Avenue – Commercial Observer
25 Kent Offers Companies A Cutting-Edge Office Experience Along The Williamsburg Waterfront – Commercial Observer
Law Firm Willkie Farr & Gallagher Expands to 368K SF at 787 Seventh Avenue – Commercial Observer
Law Firm Kirkland & Ellis Grows to 309K SF at Elecor Properties’ 900 Third Avenue – Commercial Observer
Law Firm Jones Jones Signs 5K-SF Lease at 44 Wall Street – Commercial Observer
State of California Secures 20K-SF Office at 1180 Avenue of the Americas – Commercial Observer
Marcus & Millichap Expands to 41K SF at AmTrustRE’s 260 Madison Avenue – Commercial Observer
Design Firm GKV Architects Signs 6K-SF Lease at AmTrustRE’s 360 Lexington Avenue – Commercial Observer
Crain´s New York
Prosperity Partners leases full floor of office space at 575 Madison Ave. – Crain’s New York Business
Coach’s Fifth Avenue home sent to special servicing on default fears – Crain’s New York Business
Charles Cohen could lose Midtown building after allegedly defaulting on ground rent – Crain’s New York Business
Marcus & Millichap expands to 41K at 260 Madison Ave. – Crain’s New York Business
New York Business Journal
Prosperity Partners takes full floor of office space in Midtown – New York Business Journal
Hightouch expands NYC office to 18,000 square feet in Chelsea – New York Business Journal
Shirley Aninias School moving to 30 Wall Street – New York Business Journal
New York YIMBY
Applications Filed For 1,090-Foot Supertall At 310 Greenwich Street in Tribeca, Manhattan – New York YIMBY
18W55 Completes Construction at 18 West 55th Street in Midtown, Manhattan – New York YIMBY
Michael Young and Matt Pruznick, Author at New York YIMBY
