Prepared by Richard Plehn
Welcome to the Weekly Real Estate Newsletter — December 9th Edition, as we continue through the final month of 2025!
This week, we’re breaking down the latest activity across New York City’s commercial real estate market — from notable lease signings and investment moves to major construction milestones and the trends shaping tenant demand as the year winds down.
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The Real Deal
Renowned Architect Robert A.M. Stern Dies at 86 – The Real Deal
Manhattan Office Leasing Hits Speed Bump In November – The Real Deal
Billy Macklowe Buys $46M Note on Tribeca Office Building – The Real Deal
Douglas Elliman Agent Gail Sankarsingh Dies at 57 – The Real Deal
Empire State Realty Trust Buying Scholastic Soho Building – The Real Deal
GFP Real Estate, Metro Loft Land $835M Refi on Water Street – The Real Deal
Paramount Group Refinances 900 Third Avenue – The Real Deal
Chetrit Restructures $152M Debt Behind 65 Broadway – The Real Deal
Apple Takes Another Chunk Of Vornado’s Penn 11 – The Real Deal
The Commercial Observer
UN Population Fund Consolidates to 59K in Midtown East (Updated) – Commercial Observer
Software Company Distyl AI Takes 15K SF at 135 Madison Avenue – Commercial Observer
Moody’s in Talks to Consolidate Into 400K SF at Brookfield Place – Commercial Observer
Fintech Firm Arch Moves to 74K-SF Office at One Seaport Plaza – Commercial Observer
Millennium Management Renews 438K SF at 399 Park Avenue – Commercial Observer
Nonprofit Fortune Society Expands to 91K SF at LIC Headquarters – Commercial Observer
Turner Construction, Jockey Club Among New Leases at 52 Vanderbilt – Commercial Observer
Coworking Firm Resident Company Club Takes 13K SF at 113 University Place – Commercial Observer
Anheuser-Busch InBev Orders Another Round at 119 West 24th Street – Commercial Observer
Global Bank ING Group Expands to 154K SF at Durst’s 1133 Avenue of the Americas – Commercial Observer
Crain´s New York
Millennium Management extends 399 Park Ave. lease with BXP | Crain’s New York Business
Empire State Realty Trust buying Scholastic SoHo building for $386M | Crain’s New York Business
New York landlord SL Green could lower payout to real estate investors | Crain’s New York Business
Manhattan office rents reach $300 per square foot | Crain’s New York Business
Bisnow
Empire State Realty Trust To Buy Scholastic’s SoHo HQ For $386M – Bisnow
Remembering Robert A.M. Stern, Starchitect Who Revived Limestone Glamour – Bisnow
🎙️ Plus: The newest episode of The Real Estate Rundown is now live on YouTube — featuring an insightful conversation with Matt Ryder. Don’t miss his take on market dynamics, tenant needs, and how Frameshift supports companies navigating relocation.
New York YIMBY
80 Clarkson’s Limestone Façade Continues to Progress in Manhattan’s West Village – New York YIMBY
$11M Renovation Completed For “Field of Dreams” Athletic Field In Harlem – New York YIMBY
Demolition Underway for Louis Vuitton’s New Flagship Tower at 1 East 57th Street in Midtown, Manhattan – New York YIMBY
Renderings Reveal Office-To-Residential Conversion of 67 Irving Place in Gramercy Park, Manhattan – New York YIMBY
6 East 43rd Street Begins Residential Conversion, Expansion in Midtown, Manhattan – New York YIMBY
419 East 91 Street Completes Construction on Manhattan’s Upper East Side – New York YIMBY
288 East 88th Street’s Exterior Nears Completion on Manhattan’s Upper East Side – New York YIMBY
Penn 15 Supertall Remains On Hold At 15 Penn Plaza in Midtown, Manhattan – New York YIMBY
Work Remains Stalled on Three Hudson Boulevard in Hudson Yards, Manhattan – New York YIMBY
New York Business Journal
Mamdani election prompts mixed reactions from NYC developers – New York Business Journal
Scholastic sells NYC headquarters to Empire State Realty – New York Business Journal
Hoka, Tecovas take retail space in Williamsburg – New York Business Journal
100 Wall St. office building to add apartments – New York Business Journal
CSC Real Estate plans 30 apartments at 75 Maiden Lane in FiDi – New York Business Journal
Arch Inc., Cohen Milstein take office space at One Seaport Plaza – New York Business Journal
New York Post
Times Square seeing projects come together ahead of ball drop | New York Post
NYC landlords need $1B to avoid default under Mamdani | New York Post
Wall Street Journal
Office-to-Residential Conversions Are Booming and New York Is the Epicenter – WSJ
Commercial Real Estate Is Getting Too Cheap to Ignore – WSJ
Scholastic to Sell NYC Headquarters as Part of Turnaround Efforts – WSJ
