Prepared by Richard Plehn
Welcome to the April 11th edition of our Real Estate News, straight from the heart of New York City.
In this edition as usual, we’ll be uncovering the pulse of the real estate world, updating market news, exploring the trends shaping the skyline, and dissecting groundbreaking deals that are shaping the Commercial Real Estate future.
Step into the realm of real estate innovation as we bring you the latest insights, trends, and opportunities shaping the landscape of property markets.
Thank you for joining us once again!
The Real Deal
Meet Ruth Colp-Haber, Queen of the Sublets (therealdeal.com)
Jamestown Cuts Deal to Keep Historic SF Office Building (therealdeal.com)
Dallas Office Vacancies hit 26% in the First Quarter (therealdeal.com)
Why Developers Switch Representation On Condo Projects (therealdeal.com)
How Brodsky’s Status and Funds Secured the Flatiron Building (therealdeal.com)
Ogden Cap Selling 324 Condos on the Upper West Side (therealdeal.com)
Food First to Auction Rent-Stabilized Buildings in Brooklyn (therealdeal.com)
Bisnow
Adam Neumann Reportedly Offers $500M To Buy WeWork Out Of Bankruptcy (bisnow.com)
LuxUrban Hotels Stock Plummets After Disclosing Audit, Posting $65M Loss (bisnow.com)
Office Market Still Moving In Wrong Direction For Manhattan Landlords (bisnow.com)
Bob Knakal Launches New Investment Sales Firm With A Focus On AI (bisnow.com)
This Week’s N.Y. Deal Sheet (April 4, 2024) (bisnow.com)
Jeff Sutton Could Relinquish Herald Square Retail Building In Foreclosure (bisnow.com)
This Week’s N.Y. Deal Sheet (April 4, 2024) (bisnow.com)
The Commercial Observer
CoreWeave Inks 17K-SF Lease in Financial District – Commercial Observer
AI-Powered Consulting Firm Ekimetrics Moving to 120 Broadway – Commercial Observer
Bond Civil & Utility Construction to Open Manhattan Office at 551 Fifth Avenue – Commercial Observer
Health Organization Callen-Lorde Adds 10K SF to Bronx Footprint – Commercial Observer
Online Marketplace 1stDibs Moving HQ to 14K SF at 300 Park Avenue South – Commercial Observer
Photo Studio, Financial Planner Take Space in Sunset Park’s Whale Building – Commercial Observer
Major League Soccer Relocating to Penn 2 with 126K-SF Lease – Commercial Observer
InStep Health Relocating New York City Office to 307 Fifth Avenue – Commercial Observer
Manhattan Office Leasing Still Muted, But Retailers Have Stolen the Show – Commercial Observer
Corcoran Group Relocating to 9K SF at 220 West 19th Street – Commercial Observer
Investment Firm MacKay Shields Downsizes to 30K SF in Move to 299 Park Avenue – Commercial Observer
Antitrust Firm Axinn Moving to 28K SF at Rock Center – Commercial Observer
State Street Bank Relocating to 30K SF at 601 Lexington Avenue – Commercial Observer
Lease Deals of the Week: Regus Expands to 55K SF Near Penn Station – Commercial Observer
Architect ESKW Moving to Bigger Digs at 52 Duane Street – Commercial Observer
Crypto Trading Platform dYdX Opening First NYC Office at 38 Greene Street – Commercial Observer
Investment Manager VanEck Staying Put in 53K SF at 666 Third – Commercial Observer
Interactive Brokers Expands by 6K SF at 1133 Avenue of the Americas – Commercial Observer
Three New Tenants Bring 461 Fifth Avenue to 100% Leased – Commercial Observer
The New York Post
Abandoned Art Deco cinema in NYC loses another lease on life (nypost.com)
It takes a big earthquake to take down NYC skyscrapers (nypost.com)
Crain’s New York
Developer Goose snaps up massive Boerum Hill industrial site for housing | Crain’s New York Business (crainsnewyork.com)
U.S. Postal Service’s $2-per-square-foot lease may be Midtown’s best bargain | Crain’s New York Business (crainsnewyork.com)
SL Green’s new Madison Square Park tower lands new lease deals | Crain’s New York Business (crainsnewyork.com)
SL Green’s new Madison Square Park tower lands new lease deals | Crain’s New York Business (crainsnewyork.com)
New York YIMBY
YETI Signs New Lease At 200 Fifth Avenue In Flatiron, Manhattan (newyorkyimby.com)
32 West 48th Street Begins Ascent in Midtown, Manhattan – New York YIMBY
Levain Bakery Opens At 122 Fifth Avenue In Union Square, Manhattan (newyorkyimby.com)
266 West 96th Street Finishes Construction on Manhattan’s Upper West Side – New York YIMBY
262 Fifth Avenue Structurally Tops Out Over NoMad, Manhattan – New York YIMBY
Wall Street Journal
The Office Market Is in Turmoil. So Why Are Rents More Expensive? – WSJ
How LVMH Helped Turn an Abandoned Miami Warehouse District Into a Luxury Hot Spot – WSJ
America’s Office Fire Sale Has Barely Begun – WSJ
