Prepared by Richard Plehn
Welcome to the July 8th edition of our Weekly Commercial Real Estate News! This week, we’re excited to bring you the latest market trends, breaking news on significant deals, and highlights of noteworthy developments shaping the commercial real estate industry.
From evolving office space strategies to impactful retail and industrial transactions, our coverage provides you with the insights needed to stay informed and ahead in this dynamic market. Join us as we delve into the key drivers influencing the industry and explore the most significant deals making headlines this week.
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The Real Deal
Durst Puts 1800 Park Avenue Up For Sale (therealdeal.com)
Peloton Founder Sells Manhattan Townhouse (therealdeal.com)
Real Estate Equities’ Brandon Miller in Intensive Care (therealdeal.com)
Billionaire Paul Singer’s Hedge Fund Inks 149k SF At 280 Park Avenue (therealdeal.com)
Plaza District Led Office Leasing in Q2 (therealdeal.com)
Michael Stern Gives 9 DeKalb Stake in Debt Restructuring (therealdeal.com)
Empire Capital, Namdar Might Surrender NYC Office Building (therealdeal.com)
Manhattan office leasing chugs along (therealdeal.com)
Ikea Eyes Manhattan After Ingka’s Deal At Extell’s 570 Fifth (therealdeal.com)
June’s Largest Office Leases in New York City (therealdeal.com)
Boutique Greenwich Village Office Heads to Foreclosure (therealdeal.com)
The Commercial Observer
Paul Singer’s Elliott Investment Takes 149K SF at 280 Park Avenue – Commercial Observer
Law Firm Emery Celli Increasing Offices in Move to 22K SF at 1 Rockefeller Plaza – Commercial Observer
Rooftop Bar Atop 230 Fifth Staying Put for 12 Years – Commercial Observer
Maimonides Consolidating Brooklyn Offices to 54K SF in Borough Park – Commercial Observer
Law Firm Orrick, Herrington & Sutcliffe Renews 144K SF at 51 West 52nd – Commercial Observer
Kenneth Park Architects Renews 15K SF at 360 Lexington Avenue – Commercial Observer
AI Platform Harvey Moving NYC HQ to 17K SF at 315 Park Avenue South – Commercial Observer
Law Firm Ropers Majeski Inks 11K-SF Deal at 800 Third Avenue – Commercial Observer
Email Software Developer Movable Ink Jumps to 14K SF at 841 Broadway – Commercial Observer
PR Firm LaForce Moving to 17K SF at 53 West 23rd Street – Commercial Observer
Law Firm Clarick Gueron Reisbaum Signs 13K-SF Lease at Rudin’s 41 Madison Avenue – Commercial Observer
HSBC Expands by 35K SF at Tishman Speyer’s Spiral – Commercial Observer
Maimonides Opening 25K-SF Health Care Center in Clinton Hill – Commercial Observer
Bisnow
This Week’s N.Y. Deal Sheet (July 7, 2024) (bisnow.com)
With Unpaid Property Taxes And Bills Nearing $2B, NYC Looks For New Way To Collect (bisnow.com)
UBS Puts 1M SF Midtown Office Tower On Online Auction Block (bisnow.com)
9 Times Square To Sell For $100M Loss (bisnow.com)
New York’s Office Market Is Starting To Get Its Mojo Back (bisnow.com)
New Yok YIMBY
Lease Renewal Signed At 51 West 52nd Street In Midtown East (newyorkyimby.com)
125 West 57th Street’s Curtain Wall Progresses in Midtown, Manhattan – New York YIMBY
‘Louie’ Tops Out at 21 West 17th Street and 16 West 18th Street in Flatiron District, Manhattan – New York YIMBY
New Renderings Released For Extell’s 570 Fifth Avenue Skyscraper in Midtown, Manhattan – New York YIMBY
Five New Leases Totaling 129,500 Square Feet Signed At The Spiral (newyorkyimby.com)
29 Jay Street Nears Completion In DUMBO, Brooklyn – New York YIMBY
Developer to break ground on first brand-new Dumbo office building in 100 years (nypost.com)
Brooklyn Edison Building Designated As Landmark (newyorkyimby.com)
19 Rockwell Place Rises in Fort Greene, Brooklyn – New York YIMBY
The Maybury Nears Completion At 550 Tenth Avenue In Hudson Yards (newyorkyimby.com)
Vornado Realty Trust Unveils Plaza33, A New Pedestrian Plaza In Midtown (newyorkyimby.com)
Wall Street Journal
A Real-Estate Fund Industry Is Bleeding Billions After Starwood Capped Withdrawals – WSJ
A Luxury Makeover Awaits One of America’s Oldest Shopping Centers – WSJ
New York Times
Office Buildings’ Losses Are Growing, With More Pain to Come – The New York Times (nytimes.com)
For Lincoln Center’s West Side, A New Story – The New York Times (nytimes.com)
Apartments Could Be the Next Real Estate Business to Struggle – The New York Times (nytimes.com)
