Prepared by Richard Plehn
Welcome to the July 29 edition of our Weekly Commercial Real Estate Recap! In this end-of-the-month issue, we’re excited to bring you the latest market trends, breaking news on major transactions, and highlights of significant developments transforming the commercial real estate landscape.
From innovative office space strategies to impactful retail and industrial deals, our coverage offers the insights you need to stay informed and ahead in this dynamic market. Join us as we explore the key drivers shaping the industry and delve into the most noteworthy deals making headlines this week.
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The Real Deal
NYC landlords may be required to install and pay for AC units (therealdeal.com)
Feil’s $164M Queens Atrium Loan Heads to Special Servicing (therealdeal.com)
M&T Bank Resolves $1B in Shaky CRE Loans, No Office Debt (therealdeal.com)
Delaware Judge Rules In Sol Goldman Family Feud (therealdeal.com)
Joseph Sitt’s Thor Equities loses Manhattan buildings to foreclosure (therealdeal.com)
RFR’s Aby Rosen Nabs Maturity Extension on 285 Madison loan (therealdeal.com)
Yoni Goodman Out as President of Meridian Capital Group (therealdeal.com)
More Meatpacking Woes for Developer Michael Shah (therealdeal.com)
John Catsimatidis Scores $57M for Chelsea Development (therealdeal.com)
Real Estate Developers to Host Trump Fundraiser in Deal, NJ (therealdeal.com)
Lightstone is Target of Latest 421a Rent Increase Lawsuit (therealdeal.com)
The Commercial Observer
Union Square Is Building Back After Pandemic With Public Attractions – Commercial Observer
Popular Indian Restaurant Gazab Takes 3K SF for New Eatery at 202 Avenue A – Commercial Observer
Carter’s Takes 25K-SF Office at ESRT’s 1350 Broadway – Commercial Observer
Why Prefabricated Mass Timber is a Game-Changer – Commercial Observer
Crain´s New York
Lucerne hotel owner sells Upper West Side mansion | Crain’s New York Business (crainsnewyork.com)
Empire State Realty’s Tony Malkin is ready to buy more real estate | Crain’s New York Business (crainsnewyork.com)
Indoor soccer facility Socceroof coming to Manhattan office tower | Crain’s New York Business (crainsnewyork.com)
NYC Deals of the Day: July 26, 2024 | Crain’s New York Business (crainsnewyork.com)
Sephora lands big rent reduction at 520 Madison Ave. | Crain’s New York Business (crainsnewyork.com)
Bisnow
Occupiers, Conversions, Bloomberg Give NYC Office Sales Market A Boost (bisnow.com)
Blackstone, Rialto Push To Foreclose On McGraw-Hill Building After Signature Bank Loan Default (bisnow.com)
This Week’s N.Y. Deal Sheet (July 7, 2024) (bisnow.com)
Empire State Realty To Buy Brooklyn Retail For $195M (bisnow.com)
Weekend Interview: L&L Holding COO Jamil Lacourt On Stark Office Realities, Mixing ‘Church And State’ In CRE (bisnow.com)
The NYC Casino Race Comes Down To Who Can Clear The Local Political Hurdles (bisnow.com)
Wall Street Journal
Hotel Owners and Union Clash Over Proposal to Regulate Nonunion Hotels – WSJ
Exclusive | Beverly Hills Megadeal Lands Prime Shopping Space—and the Empty Cubicles Above It – WSJ
Is the Worst Over for New York Offices? – WSJ
Marriott’s CFO on Growing the Largest Hotel Chain and What Comes Next (wsj.com)
Real-Estate Meltdown Strains Even the Safest Office Bonds – WSJ
New York Post
San Francisco office vacancies hit all-time high — despite Silicon Valley AI boom (nypost.com)
Exclusive | NYC entrepreneurs bring Soho House-like community to NJ burbs (nypost.com)
New York Times
Office Buildings’ Losses Are Growing, With More Pain to Come – The New York Times (nytimes.com)
