Prepared by Richard Plehn
Welcome to the February 8 Edition of our Real Estate Newsletter!
Explore the vibrant pulse of the property landscape as we unravel the latest trends and market insights curated from around the news. From promising developments to key market indicators, join us on this journey to stay ahead in the dynamic world of real estate. Let’s dive into the stories that shape the skyline and redefine the possibilities in the Big Apple and beyond!
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The Real Deal
Office Complex Worldwide Plaza’s Estimated Value Sinks $500M (therealdeal.com)
WeWork Salvages Operations at Two New York Locations (therealdeal.com)
Ivan Lendl Sells 445-Acre Connecticut Estate for $12M (therealdeal.com)
Office Owners Wait and Wait for Office Conversion Policies (therealdeal.com)
Manhattan Office Leasing Takes a Nosedive in January (therealdeal.com)
Thor Scores Anchor Tenant at Former 9/11 Tribute Center (therealdeal.com)
Commercial Sales Swoon Eats at MTA Budget (therealdeal.com)
One Of NYC’s Largest Undeveloped Parcels Sells In Brooklyn (therealdeal.com)
Bisnow
This Week’s N.Y. Deal Sheet (January 1, 2024) (bisnow.com)
WeWork Moves To Reject 9 More Leases As Landlords Push For Back Rent (bisnow.com)
Manhattan Office Leasing Dropped By Almost 40% In January (bisnow.com)
Weekend Interview: Open Impact’s Lindsay Ornstein On Running A Startup Brokerage, The Future Of NYC Office (bisnow.com)
New York Post
Deutsche Bank to cut 3,500 jobs as quarterly profit plunges 30% on hit to US real estate (nypost.com)
A record number of office buildings will convert to housing (nypost.com)
The Commercial Observer
Poland’s Pilecki Institute Opening First U.S. Location at 88 Greenwich Street – Commercial Observer
Completed Life Initiative Takes 8K SF at 10 Grand Central – Commercial Observer
Goodwill Relocates Queens Offices to EmblemHealth’s Former Astoria Building – Commercial Observer
The Journey Church NYC Renews 9K-SF Office at 247 West 37th Street – Commercial Observer
WeWork Negotiates to Keep 71 Fifth Ave. and Dock 72 Locations But Awaits Court OK – Commercial Observer
New York YIMBY
New Renderings Revealed For 520 Fifth Avenue Supertall in Midtown, Manhattan – New York YIMBY
Warren Street Hotel Wraps Up Construction At 86 Warren Street in Tribeca, Manhattan – New York YIMBY
18 West 55th Street Begins Ascent in Midtown, Manhattan – New York YIMBY
Wall Street Journal
The Real-Estate Downturn Comes for America’s Premier Office Towers – WSJ
