Prepared by Richard Plehn
Welcome to the April 29 edition of our Weekly Commercial Real Estate News!
As we reach the end of the month (already!) everything keeps evolving in the dynamic world of commercial real estate. We’re excited to bring you the latest updates, market trends, and breaking news on deals unfolding in this exciting landscape.
In this edition, we’ll delve into the heartbeat of the commercial real estate sector, uncovering emerging market trends, highlighting noteworthy deals making waves, and providing insightful analysis to help you stay ahead of the curve. Thank you for joining us!
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The Real Deal
City Quits Leases at Clipper Realty’s 250 Livingston Street (therealdeal.com)
Bushburg Buying Rudin’s 80 Pine Street for $160 Million (therealdeal.com)
WeWork Sticking Around at Kushner, RFR’s Dumbo Office (therealdeal.com)
City Quits Leases at Clipper Realty’s 250 Livingston Street (therealdeal.com)
Bisnow
Park Avenue South Tech Campus Spirals Toward Default After Meta’s Early Exit (bisnow.com)
WeWork Reveals Post-Bankruptcy Financial Projections As Landlords Say Restructuring Close To ‘Meltdown’ (bisnow.com)
This Week’s N.Y. Deal Sheet (April 4, 2024) (bisnow.com)
Rudin Offloading FiDi Tower It’s Owned For 64 Years For $160M (bisnow.com)
‘We’re Ready To Go’: Stalled Projects Get New Life With 421-a Extension (bisnow.com)
Commercial Observer
NYC Considers New Law to Prevent Building Collapses – Commercial Observer
Publisher Lee & Low Moving Offices to 6K SF at 381 Park Avenue South – Commercial Observer
Financial Management Firm Elite Taking 5K SF at Durst’s 675 Third Avenue – Commercial Observer
Kobalt Music Recommits to 2 Gansevoort With New 10K SF Deal – Commercial Observer
IT Firm Ahead Expands to 16K SF at 500 Fifth Avenue – Commercial Observer
Crain’s New York
Tracking return to office data in New York City offices | Crain’s New York Business (crainsnewyork.com)
Empire State Realty Trust properties over 90 percent leased in Q1 2024 | Crain’s New York Business (crainsnewyork.com)
NYC Deals of the Day: April 26, 2024 | Crain’s New York Business (crainsnewyork.com)
Cohen Bros.’ Charles Cohen pushes back on Fortress lawsuit in affidavit | Crain’s New York Business (crainsnewyork.com)
Tracking return to office data in New York City offices | Crain’s New York Business (crainsnewyork.com)
New York YIMBY
The Alloy Block Wraps Up Construction At 505 State Street in Downtown, Brooklyn – New York YIMBY
7 Platt Street Continues to Ascend in Financial District, Manhattan – New York YIMBY
Façade Work Continues On Redeemer East Side At 150 East 91st Street on Manhattan’s Upper East Side – New York YIMBY
Giorgio Armani Residences Continues Construction At 760 Madison Avenue on Manhattan’s Upper East Side – New York YIMBY
Pearl House Expansion Nears Completion At 160 Water Street in Financial District, Manhattan – New York YIMBY
335 Eighth Avenue Rises Above Street Level in Chelsea, Manhattan – New York YIMBY
ODA’s 126 East 57th Street Continues Vertical Progress in Midtown East, Manhattan – New York YIMBY
New York Post
This new NYC office tower aims to lure locals back to work (nypost.com)
NYC is getting a giant new ‘skyline-shaping’ office building (nypost.com)
Wall Street Journal
Blackstone’s Beleaguered Real-Estate Fund Stems Exodus – WSJ
Reversing the Real-Estate Doom Loop Is Possible. Just Look at Detroit. – WSJ
