Prepared by Richard Plehn
Welcome to the Weekly Real Estate news!
As we share the final March edition of our weekly real estate newsletter, let´s dive into the latest in NYC’s commercial real estate scene—from major office leases to game-changing developments.
Stay informed on the key deals and trends shaping the market in the city and beyond.
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The Real Deal
Can City Solve Housing Crisis and Keep Vacancy Under 5%? No – TRD
RXR Cedes “Digital” Midtown Office Building to Lender – TRD
Audemars Piguet Clocks 12K SF Lease at 785 Fifth Avenue – TRD
NYC Begins Public Review of 350 Park Avenue – TRD
Rechler Equity Boss Sells Park Ave Co-op for $11M – TRD
Elliman Celebrates Top NYC Agents In 2025 Ellies – TRD
Bisnow
Manhattan Rents Hit New High With No Relief For Tenants In Sight – Bisnow
How NYC’s New Development Tax Credits Are Changing What Gets Built And Where – Bisnow
Office REIT Paid Millions To Companies Controlled By CEO – Bisnow
RXR Loses 340 Madison Ave. To Lender At Auction – Bisnow
This Week’s N.Y. Deal Sheet: Horizon Media Inks 360K SF Renewal (March 18, 2025) – Bisnow
Socony-Mobil Building’s $525M Loan Nabs 3-Year Extension – Bisnow
Family Office Of Elie Tahari Hires Cushman Exec To Launch Brokerage Arm – Bisnow
New York Business Journal
Here’s where Forever 21 is closing stores in New York City – New York Business Journal
Naya and Madras Dosa Co. take space on NYC’s Third Avenue – New York Business Journal
NYC’s life-sciences space posts highest vacancy rate in US – New York Business Journal
Alchemy Ventures buys NYC home of Bradley Cooper’s cheesesteak shop – New York Business Journal
H.W. Kaufman Group to move NYC office to Avenue of the Americas – New York Business Journal
Odd Muse opens first US store in New York City – New York Business Journal
Specialist Staffing Group to move headquarters to One World Trade – New York Business Journal
Lower Manhattan office leasing hit a record low last year, BID says – New York Business Journal
Brookfield fund sells Manhattan office building at $105M loss – New York Business Journal
Ernst & Young expands office footprint at One Manhattan West – New York Business Journal
RXR loses Manhattan office building to lender subsidiary Barings – New York Business Journal
The Commercial Observer
Law Firm Goodwin Procter Nears Major Lease at 200 Fifth Avenue – Commercial Observer
Specialist Staffing Group Takes 14K SF at One World Trade Center – Commercial Observer
Accounting Firm Gruber Palumberi Raffaele Fried Renews 8K-SF Lease at 7 Penn Plaza – Commercial Observer
Uber Expands to 352K SF at Silverstein’s 3 World Trade Center – Commercial Observer
Real Estate Firm Modlin Group Relocates Within Carnegie Hall Tower – Commercial Observer
Art Investment Company Masterworks Subleases 37K SF at One WTC – Commercial Observer
Fintech Firm EquiLend Takes 20K SF at Brookfield’s 225 Liberty Street – Commercial Observer
Horizon Media Signs 17-Year Extension on 360K SF at 75 Varick Street – Commercial Observer
Ryan Serhant On His Foray Into Commercial Real Estate Sales and Marketing – Commercial Observer
Santander Bank Renews 192K-SF Lease at Sage’s 437 Madison Avenue – Commercial Observer
VC Firm General Catalyst Leases 43K SF at 148 Lafayette Street in SoHo – Commercial Observer
Insurer H.W. Kaufman Leases 11K SF at 1177 Avenue of the Americas – Commercial Observer
Asian American Foundation Relocating to 7K SF at GFP’s 322 Eighth Avenue – Commercial Observer
Parkinson’s Wellness Foundation Launches in 7K SF at 133 East 58th Street – Commercial Observer
Luxury Swimwear Brand Onia Leases 7K SF at 29 West 38th Street – Commercial Observer
Crain´s New York
Further pain ahead for embattled office sector, Morgan Stanley says | Crain’s New York Business
B&H Photo buys Brookfield office building at 333 W. 34th St. | Crain’s New York Business
Paramount Group paid millions to outside companies owned by CEO Albert Behler | Crain’s New York Business
Barings takes control of 340 Madison Ave. from RXR | Crain’s New York Business
New York YIMBY
A&E Real Estate Acquires Rivers Bend At 501 East 87th Street – New York YIMBY
NYC Downtown Alliance Announces Partnership With ArtBridge – New York YIMBY
RFP Announced For 621 West 45th Street In Hell’s Kitchen, Manhattan – New York YIMBY
Hendrix House Unveils Model Unit, Lists Penthouses in Kips Bay, Manhattan – New York YIMBY
Façade Work Progresses on 350 East 18th Street in Gramercy, Manhattan – New York YIMBY
Housing Lottery Launches for 1026 Third Avenue on the Upper East Side of Manhattan – New York YIMBY
The Duchess Wraps Up Construction at 300 East 83rd Street on Manhattan’s Upper East Side – New York YIMBY
French Department Store Printemps Opens At One Wall Street in Financial District, Manhattan – New York YIMBY
Construction Nearing Completion At 200 East 75th Street In Manhattan – New York YIMBY
New York Post
Park Avenue supertall tower anchored by Ken Griffin’s Citadel begins long road to joining NYC skyline – NY Post
Rent prices fall across the US—except in this one NYC borough – NY Post
Exclusive | Benihana sells luxury corporate pad in NYC for $1.77M – NY Post
Exclusive | Gary Barnett finally snags holdout lot to build Fifth Ave. tower — and bring Ikea to Manhattan – NY Post
