Prepared by Richard Plehn
Welcome to the August 5 edition of our Weekly Commercial Real Estate Recap! As we kick off the first edition of the month, we’re excited to share the latest market trends, breaking news on major transactions, and highlights of significant developments shaping the commercial real estate landscape.
From new office space strategies to influential retail and industrial agreements, our coverage provides the insights you need to stay informed and ahead in this dynamic market.
Join us as we explore the key drivers impacting the industry and dive into the most noteworthy deals making headlines this week.
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The Real Deal
Jane Goldman, Steven Gurney-Goldman Clash at Solil Management (therealdeal.com)
Senate Republicans Stop Tax Bill Reforming LIHTC (therealdeal.com)
Hartz Mountain Ditches Giant Warehouse Project in New Jersey (therealdeal.com)
FiDi Building Plucked from Prodigy Scandal Sells for $64M (therealdeal.com)
Meyer Chetrit Faces $225M Foreclosure on Parkhill City Apartments (therealdeal.com)
Midtown Manhattan office leasing is on the rise (therealdeal.com)
BlackRock Expands Headquarters at 50 Hudson Yards Tower (therealdeal.com)
Midtown tower sells online for $8.5 million (therealdeal.com)
Here Were New York City’s Biggest Real Estate Loans in June (therealdeal.com)
Developer Jeff Levine Sells His West Village Townhouse (therealdeal.com)
The Commercial Observer
NYPD to Renew Its 52K-SF Offices at 90 Church Street – Commercial Observer
Women’s Shoe Seller Sam Edelman Renews 1325 Avenue of the Americas Offices – Commercial Observer
Daiwa Capital Markets Relocating to 44K SF at 1251 Avenue of the Americas – Commercial Observer
Virtus Investment Partners Takes 41K SF at Paramount’s 1301 Avenue of the Americas – Commercial Observer
Developer Phipps Houses Relocating to 39K SF at Feil’s 257 Park Avenue South – Commercial Observer
Adtech Firm Equativ Relocating to ESRT’s 1350 Broadway – Commercial Observer
Embroidery Studio Trimworld Renews 11K SF at GFP’s 247 West 37th Street – Commercial Observer
BlackRock to Expand 50 Hudson Yards Headquarters by 50K SF – Commercial Observer
Investment Firm Morrison Relocating NYC Office to Tishman Speyer’s 600 Fifth Avenue – Commercial Observer
Crain´s New York
State backs city in Local Law 97 lawsuit | Crain’s New York Business (crainsnewyork.com)
Jay Suites buys 8 W. 38th St. in Manhattan | Crain’s New York Business (crainsnewyork.com)
Bisnow
Foreclosures Surge As Some Investors Call Bottom, Others Say Pain Is Just Starting (bisnow.com)
This Week’s N.Y. Deal Sheet (July 7, 2024) (bisnow.com)
UBS Sells NYC Office Tower Via Online Auction For 97.5% Loss (bisnow.com)
Busy Summer Continues For NYC Office Leasing With Midtown The Clear Leader (bisnow.com)
Wall Street Journal
Cosmopolitan Financier Arki Busson Brings Hollywood Magic to Blue-Collar Jersey – WSJ
Surge in Commercial-Property Foreclosures Suggests Bottom Is Near – WSJ
New York Post
Socceroof scores first Manhattan location in Fidi (nypost.com)
