Prepared by Richard Plehn
Welcome to the April 22 edition of our Real Estate News. As we embark on this edition, we’re excited to unveil the hottest trends influencing the commercial Real Estate market, our newsletter is your ultimate guide to staying informed and ahead of the curve.
Join us as we uncover exclusive insights, spotlight noteworthy deals, and highlight market trends to help you navigate the dynamic world of real estate.
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Bisnow
Park Avenue South Tech Campus Spirals Toward Default After Meta’s Early Exit (bisnow.com)
Marc Holliday: 40M SF Of NYC Offices Could Be Converted If Housing Bill Passes (bisnow.com)
WeWork’s Survival Depends On Its Members. Its Bankruptcy Is Testing Their Loyalty (bisnow.com)
SL Green Makes Another Sweetheart Deal To Retire Office Debt (bisnow.com)
The Commercial Observer
RXR Leases to Yaupon Capital, Northampton at 340 Madison – Commercial Observer
NYC Greenlights New 34K-SF NYPD Traffic Enforcement Office at 31 Penn – Commercial Observer
Farmshop To Open 15K SF Bakery in Atlas Capital’s Row DTLA – Commercial Observer
NYPD Stays Put in 52K SF at 300 Gold Street – Commercial Observer
Grantmaker Unbound Moves Across Town to 575 Madison Avenue – Commercial Observer
Michael Cohen’s Brighton Capital Ushers CRE Borrowers Through Loan Servicing Era – Commercial Observer
Colliers’ Michael Cohen On Filling All That Empty New York Office Space – Commercial Observer
Crain’s New York
Vacancies hit 21% at Trump-owned tower 40 Wall St. | Crain’s New York Business (crainsnewyork.com)
NYC Deals of the Day: April 19, 2024 | Crain’s New York Business (crainsnewyork.com)
Developer Eretz Group faces foreclosure on West 57th Street in Midtown from a familiar face: its own tenant | Crain’s New York Business (crainsnewyork.com)
Storefront vacancy rate hits 11.3% citywide, officials say | Crain’s New York Business (crainsnewyork.com)
The Real Deal
Brooklyn Investment Sales Dip 34 Percent (therealdeal.com)
SL Green, Vornado Gin Up $100M to Extend 280 Park Loan (therealdeal.com)
Rent Guidelines Board Proposes 4% Hike (therealdeal.com)
SL Green FFO Doubles in Q1 (therealdeal.com)
Google, Disney Usher in New Era for Hudson Square (therealdeal.com)
Brooklyn Investment Sales Dip 34 Percent (therealdeal.com)
New York YIMBY
L&L Holding Company Secures Refinancing For 425 Park Avenue (newyorkyimby.com)
The Corcoran Group Relocates To 220 West 19th Street In Chelsea (newyorkyimby.com)
Updated Design Revealed for 350 Park Avenue Supertall in Midtown East, Manhattan – New York YIMBY
Wall Street Journal
GE Sells Crotonville, a Training Ground for Generations of Managers – WSJ
Big Tech Is Downsizing Workspace in Another Blow to Office Real Estate – WSJ
Banks Believe They Are Well-Prepared for Commercial Real Estate Fallout – WSJ
