Prepared by Richard Plehn
Welcome to the Weekly Real Estate news!
In this March 17 edition, we’re bringing you the latest developments in New York’s commercial real estate market. From major office leases to impactful new projects, this issue highlights key transactions and trends shaping the industry. Gain valuable insights into the forces driving the market across the five boroughs and the greater region.
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The Real Deal
Financial District, Murray Hill top office vacancy list for Manhattan – The Real Deal
Manhattan Office Vacancy Drops in 2024 – The Real Deal
National Chains Top NYC’s Retail Tenants in 2024 – The Real Deal
Retail Rents Rose YoY in Six Manhattan Neighborhoods – The Real Deal
Top Manhattan Office Construction Projects in 2024 – The Real Deal
Manhattan Rents Rose in 2024 – The Real Deal
Extell Scores Debt Deals on Tel Aviv Stock Exchange – The Real Deal
New York City Rents Smash New Record in February – The Real Deal
Bisnow
Amazon Taking Another 200K SF Of Manhattan Office Space – Bisnow
This Week’s N.Y. Deal Sheet: Developer Lands $32M For Tribeca Luxury Condo Conversion (March 11, 2025) – Bisnow
Extell Teeing Up $1.3B For ‘The Torch’ Supertall – Bisnow
What Does It Take To Convert Office Space To Residential In NYC? Industry Experts From SOCOTEC Weigh In – Bisnow
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
WeWork, Industrious, IWG adopt new strategies amid shifting office landscape – New York Business Journal
Uber, Masterworks take office space at World Trade Center – New York Business Journal
Builders Group plans office-to-apartment conversion in Brooklyn – New York Business Journal
Extell buys Philippe Chow, Il Mulino buildings by development site – New York Business Journal
JPMorgan sells stake in Downtown Brooklyn tower to Steiner – New York Business Journal
The 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
Industrious Leases 20K SF at Rudin’s 560 Lexington Avenue – Commercial Observer
Shopping Content Provider LightBulb Live Takes 3K SF at 520 Eighth Avenue – Commercial Observer
State Bank of India Takes 425 Park’s Last Available Floors – Commercial Observer
Global Asset Manager Reckoner Capital Takes 12K SF at 11 East 26th Street – Commercial Observer
Two Nonprofits Ink Deals at Muss’s 60 Bay Street in Staten Island – Commercial Observer
Advertising Platform, Private Equity Firm Ink Deals at SoHo’s 10 Crosby Street – Commercial Observer
Bike New York Relocating to 9K SF at Brooklyn’s Industry City – Commercial Observer
‘Wine Spectator’ Owner Renews 38K-SF Lease at 825 Eighth Avenue – Commercial Observer
Crain´s New York
NYC Deals of the Day: March 10, 2025 | Crain’s New York Business
In the Markets: Real estate sector shows strength as markets swoon | Crain’s New York Business
Budget travelers fuel turnaround for Delta by Marriott in Midtown | Crain’s New York Business
Steiner buys out JPMorgan’s stake in Downtown Brooklyn skyscraper | Crain’s New York Business
John Paulson quietly bought Manhattan’s Princeton Club property | Crain’s New York Business
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
A&E Real Estate Acquires Rivers Bend At 501 East 87th Street – New York YIMBY
New York Post
Park Avenue boom lifts Midtown office market: ‘Never give up on NYC’ – New York Post
