Prepared by Richard Plehn
Welcome to the Weekly Real Estate news!
As the month of March progresses, we’re bringing you the latest updates on New York’s commercial real estate market. From major office leases to significant development projects, this edition highlights key transactions and emerging trends shaping the industry.
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The Real Deal
Office Developers Plan To Build Towers in NYC Once Again – TRD
Newmark Expands At SL Green’s 125 Park – TRD
Japanese Investor Takes 150K SF at RXR’s 1285 Sixth Avenue – TRD
Moinian Group Faces Pre-Foreclosure Action in FiDi – TRD
Downtown Office Market Drives Leasing Volume In February – TRD
Top Retail Leases NYC in February 2025 – TRD
TIAA Declares SL Green’s 2 Herald Square Lease Terminated – TRD
Universal Music In Talks For 300k SF Lease At Vornado’s Penn 2 – TRD
NYC To Cut Red Tape To Speed Up Development – TRD
Brad Lander Releases Mayoral Housing Plan – TRD
Amazon Signs Third NYC Deal in Five Months – TRD
Aby Rosen Readies Chrysler Building Neighbor for Development – TRD
CrowdStreet Chief Investment Officer Leaves – TRD
City Planning Show Housing Construction Across NYC – TRD
Bisnow
NYC Deals of the Day: March 10, 2025 | Crain’s New York Business – Bisnow
This Week’s N.Y. Deal Sheet: Mizuho Takes 151K SF On Sixth Avenue (March 3, 2025) – Bisnow
Behind The ‘Battle’ To Complete The Country’s Largest Office-To-Residential Conversion – Bisnow
Amazon Taking Another 200K SF Of Manhattan Office Space – Bisnow
New York Business Journal
Newmark expands headquarters at 125 Park Ave. – New York Business Journal
NY E-Health Collaborative takes space at 5 Penn Plaza – New York Business Journal
Wildflower takes possession of College Point Logistics Center plot – New York Business Journal
Mizuho signs Manhattan’s biggest new office lease in February – New York Business Journal
GSA wants to sell these New York City properties – New York Business Journal
22-story Midtown Manhattan office building sold for $21M – New York Business Journal
SBA says it will relocate office out of New York – New York Business Journal
Inclusiv, CSA Group sign office leases at 55 Broadway – New York Business Journal
Ikon New York restaurant and lounge to open in Washington Heights – New York Business Journal
Chess Builders buys Manhattan development site for $50M – New York Business Journal
Amazon takes more office space in Manhattan – New York Business Journal
Trump administration targets federal real estate for cuts, but big questions linger – New York Business Journal
Federal real estate cuts underscore balance of leasing versus owning – New York Business Journal
Snøhetta to move NYC office to Brooklyn’s Dumbo neighborhood – New York Business Journal
The Throwback sports bar to open on Manhattan’s Upper West Side – New York Business Journal
The Commercial Observer
Japanese Bank Mizuho Leases 151K SF at RXR’s 1285 Avenue of the Americas – Commercial Observer
Newmark Expands to 184K SF at SL Green’s 125 Park Avenue – Commercial Observer
New York eHealth Collaborative and Dynatrace Sign Leases at 5 Penn Plaza – Commercial Observer
Law Firm Davis Polk & Wardwell Inks Deal for 61K SF at 237 Park Avenue – Commercial Observer
Swiss Mining Company Glencore Takes 45K SF at Vornado’s 90 Park Avenue – Commercial Observer
Institute of Integrative Nutrition Stays Put at Moinian Group’s 245 Fifth Avenue – Commercial Observer
Midtown’s Office Tenant Mix Post-COVID Leans Into Financial Services – Commercial Observer
Midtown’s Class A Office Drought Ups the Stakes Even More – Commercial Observer
Investment Firm Francisco Leases 17K SF at 1155 Avenue of the Americas – Commercial Observer
BellTower Partners Leases 9K SF at Marx Realty’s 545 Madison Avenue – Commercial Observer
Kids Clothing Brand Garan Signs Lease to Double Space at 99 Park Avenue – Commercial Observer
Universal Music Set to Lease 300K-SF Office at Vornado’s Penn 2 – Commercial Observer
Credit Union Network Inclusiv and CSA Group Sign Leases at 55 Broadway – Commercial Observer
Design Firm Tagwall, Developer RD Management Ink Leases at 1745 Broadway – Commercial Observer
Manhattan Office Leasing Activity Has Strongest Yearly Start in Over a Decade: CBRE – Commercial Observer
Balbec Capital Signs Lease to Move to 13K SF at Vornado’s 90 Park Avenue – Commercial Observer
Real Estate Firm Greystone Renews 50K-SF Lease at Carnegie Hall Tower – Commercial Observer
Amazon Takes 193K SF at 237 Park Avenue – Commercial Observer
Global Design Studio Snøhetta Inks 25K-SF Lease in Dumbo – Commercial Observer
Pharma Company Novartis Renews 16K-SF Office at 10 Bryant Park – Commercial Observer
State Bank of India Takes 425 Park’s Last Available Floors – Commercial Observer
Crain´s New York
Office landlord Paramount Group forecasts steep decline in 2025 earnings – Crain´s New York
Kushner Cos. acquires almost 40% stake in Lincoln Square school building for $10.4 million | Crain’s New York Business
Mizuho Financial Group inks massive sublease at RXR’s 1285 Sixth Ave. | Crain’s New York Business
Newmark signs 15-year renewal at SL Green’s 125 Park Ave. | Crain’s New York Business
NYC Deals of the Day: March 3, 2025 | Crain’s New York Business
Wells Fargo acquires Midtown South office building at auction | Crain’s New York Business
Pair of Manhattan offices to sell for 68% discount to 2017 price | Crain’s New York Business
NYC Deals of the Day: March 4, 2025 | Crain’s New York Business
SL Green accused of defaulting on $24 million in rent and taxes at 2 Herald Square | Crain’s New York Business
Hilton Garden Inn in Midtown New York faces imminent default | Crain’s New York Business
Universal Music nears deal for offices at Vornado’s Penn 2 | Crain’s New York Business
Chetrit family faces a reckoning after decades of success in NY real estate | Crain’s New York Business
Hotel on Rivington on Lower East Side faceing a big loss | Crain’s New York Business
Extell to demolish East 60th Street site | Crain’s New York Business
Pera Soho suing landlord SME Capital over terms of its Thompson Street lease | Crain’s New York Business
New York office complex Worldwide Plaza sees cash reserves dwindle | Crain’s New York Business
Former Upper West Side First Republic Bank building slated for demolition | Crain’s New York Business
NYC Deals of the Day: March 10, 2025 | Crain’s New York Business
New York YIMBY
Affordable Housing Conversion Begins at 1760 Third Avenue in East Harlem, Manhattan – New York YIMBY
Foundations Underway at 1448 Third Avenue on Manhattan’s Upper East Side – New York YIMBY
Next Steps Announced For 100 Gold Street Redevelopment
Sutton Tower’s Waterfront Location is a Big Draw on the Upper East Side – New York YIMBY
1345 Third Avenue’s Façade Nears Completion on Manhattan’s Upper East Side – New York YIMBY
New Rendering For Upcoming Self Storage Facility at 609-615 West 46th Street in Hell’s Kitchen, Manhattan – New York YIMBY
Housing Lottery Launches for 360 West 43rd Street in Hell’s Kitchen, Manhattan – New York YIMBY
989 Sixth Avenue Skyscraper Reaches Halfway Mark in Midtown, Manhattan – New York YIMBY
New York Post
Aby Rosen has big plans for Trylons after boot from Chrysler Building – NY Post
Wall Street Journal
Exclusive | Blackstone Raises Largest Commercial Property Debt Fund With $8 Billion Haul – WSJ
U.S. Government Hits Pause on Massive Commercial Real-Estate Sale – WSJ
