Prepared by Richard Plehn
Welcome to the June 10th edition of our Weekly Commercial Real Estate News! This week, we bring you the latest market trends, breaking news on significant deals, and highlights of noteworthy developments shaping the industry.
From innovative office space solutions and evolving retail landscapes to major industrial transactions, our comprehensive coverage provides valuable insights to keep you informed and ahead in the dynamic world of commercial real estate.
Dive in to discover the key factors driving the market and the impactful deals making headlines this week.
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The Real Deal
Adam Neumann Tries Again to Drop Gramercy Park Penthouse (therealdeal.com)
Trump World Tower Rejects Removing “Trump” From Condo’s Name (therealdeal.com)
Shareholders Revolt Against CEO Salaries (therealdeal.com)
Is The Manhattan Office Market Leveling Off? (therealdeal.com)
Puck Building Penthouse Sold For $33M (therealdeal.com)
Warner Discovery Subleases 74K SF at 30 Hudson Yards (therealdeal.com)
LuxUrban Sued For Squatting at Hotel 57 (therealdeal.com)
New York Edition Hotel Hits The Market For $271M (therealdeal.com)
Deconstruct Live! at The Real Deal’s 2024 NYC Forum – YouTube
The Commercial Observer
Siris Capital Signs 6K-SF Lease at 825 Third Avenue – Commercial Observer
Gizmo Maker Adafruit Leaves Manhattan for 42K SF at Brooklyn’s Industry City – Commercial Observer
Trading Firm Susquehanna Subleasing 74K SF From Warner Discovery at 30 Hudson Yards – Commercial Observer
La Sirena Events Leases 23K SF at 25 Kent Avenue – Commercial Observer
Bisnow
Bloomberg To The Rescue: Billionaire Pays RFR $560M For Madison Ave. Building (bisnow.com)
Vanbarton Group Defaults On $87.5M Loan At Its Own Headquarters (bisnow.com)
William Vale Hotel’s $177M Sale Approved By Bankruptcy Judge (bisnow.com)
This Week’s N.Y. Deal Sheet (June 6, 2024) (bisnow.com)
Cushman & Wakefield Taps Long Island, Connecticut Head To Lead South Florida (bisnow.com)
Crain’s New York
Fitch downgraded 90 Fifth Ave. after RFR missed a tax payment | Crain’s New York Business (crainsnewyork.com)
Developer plans new Chinatown office building despite sector’s woes | Crain’s New York Business (crainsnewyork.com)
Williamsburg property 25 Kent lands events, catering company as newest tenant | Crain’s New York Business (crainsnewyork.com)
What to know about New York’s office-to-residential conversion tax incentive | Crain’s New York Business (crainsnewyork.com)
New York Business Journal
Room 11 Hospitality leases event space at Brooklyn office building – New York Business Journal (bizjournals.com)
Luxury hotel Sofitel New York to embark on renovation (PHOTOS) – New York Business Journal (bizjournals.com)
Deconstruct Live! at The Real Deal’s 2024 NYC Forum (youtube.com)
Moritz Glik moves NYC office and showroom to SoHo – New York Business Journal (bizjournals.com)
Wall Street Journal
Commercial Property Meltdown Clobbers Pension Funds – WSJ
Tibor Hollo, Holocaust Survivor Who Transformed Miami Skyline, Dies at 96 – WSJ
