Prepared by Richard Plehn
Welcome to the Weekly Real Estate Newsletter! In this May 12th edition, we’re bringing you the latest updates from New York’s commercial real estate market. From major lease signings to noteworthy development projects, this issue spotlights the trends and transactions shaping the region. Don’t miss what industry leaders are watching as we move deeper into Q2.
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The Real Deal
ABS Partners Team Wins REBNY’s Top Dealmaker Award – TRD
Aby Rosen’s RFR Sells 522 Fifth Avenue to Amazon – TRD
Olayan Group Approaches 100% Occupancy at 550 Madison – TRD
NYU Finalizes Massive Lease at Vornado’s 770 Broadway – TRD
Vanbarton Group Converting Seattle’s 2601 Elliott Avenue – TRD
Frederick Peters Leaving Namesake Firm for BHS – TRD
REBNY Honors Resi Agents at 2025 Awards – TRD
Mary Ann Tighe Predicts Good Times for Office Market – TRD
Ankur Jain Pitches NYC on Bilt Rewards – TRD
PNC Bank Bags 83K SF at Sage’s 437 Madison – TRD
Amazon Paid $350M For RFR’s 522 Fifth Avenue – TRD
Bisnow
Amazon Buys 600K SF Fifth Avenue Building From RFR – Bisnow
This Week’s N.Y. Deal Sheet: Vornado Signs NYU To $1.6B Lease (May 6, 2025) – Bisnow
Old Navy Takes 55K SF For New Herald Square Flagship Store – Bisnow
New York Business Journal
Amazon buys RFR’s 522 Fifth Ave. office building in Manhattan – New York Business Journal
Nightlife lounge Celene’s opens in NYC’s Flatiron District – New York Business Journal
National Women’s Soccer League doubles office space in NYC move – New York Business Journal
Colliers, MSCI: Real estate investors deploy $92.5B in Q1 – New York Business Journal
New York City’s coworking spaces are shrinking, new report finds – New York Business Journal
Riveron to nearly triple NYC office space with Midtown move – New York Business Journal
The Maze, an alcohol-free members club, to open in NYC – New York Business Journal
Lower Manhattan office leasing hits 5-year high in Q1 – New York Business Journal
NakedCashmere to open in the West Village – New York Business Journal
Atlantic Pictures moving to Lower Manhattan – New York Business Journal
Softer labor market is a boon for the office sector – New York Business Journal
Silicon Valley’s Chime to move NYC office to Flatiron – New York Business Journal
Old Navy inks largest NYC retail lease so far this year – New York Business Journal
Fanatics expands office space in Lower Manhattan – New York Business Journal
Vanbarton plans housing conversion in NYC’s Sutton Place – New York Business Journal
The Commercial Observer
Price Revealed for Amazon’s Purchase of 522 Fifth Avenue as $456M – Commercial Observer
Vanbarton Files Plans for Conversion of Archdiocese’s Former First Avenue HQ – Commercial Observer
Production Company Atlantic Pictures Moving to 66K SF at 100 Church Street – Commercial Observer
Fintech Firm Chime Signs 84K-SF Lease at 122 Fifth Avenue – Commercial Observer
Brunello Cucinelli Expands to 51K SF at 689 Fifth Avenue – Commercial Observer
PNC Bank Relocates to 83K SF at 437 Madison Avenue – Commercial Observer
Installment Sale On the Table for $1.1B 590 Madison Avenue Deal – Commercial Observer
Situation Marketing Renews 17K SF at 469 Seventh Avenue – Commercial Observer
Roger Partners, Muse Management and UAP Sign Deals at 150 Broadway – Commercial Observer
Vornado Realty Trust Earnings Beat Estimates in Q1 – Commercial Observer
New York Health Foundation Renews 17K SF at 1385 Broadway – Commercial Observer
Tishman Speyer Under Contract to Buy SoHo Office Building for $108M – Commercial Observer
RFR Sells 522 Fifth Avenue to Amazon for Undisclosed Amount – Commercial Observer
Global Finance Firm Aquarian Inks 75K-SF Lease at 550 Madison Avenue – Commercial Observer
The National Women’s Soccer League Signs 21K-SF Lease at 551 Fifth Avenue – Commercial Observer
Business Advisory Firm Riveron Inks 20K-SF Lease at 10 Grand Central – Commercial Observer
Crain´s New York
RFR sells 522 Fifth Ave. to Amazon | Crain’s New York Business
Occupancy falls at New York Hilton Midtown | Crain’s New York Business
Vanbarton Group seeks to create 420 apartments in former Archdiocese office tower on First Avenue | Crain’s New York Business
NYC Deals of the Day: May 8, 2025 | Crain’s New York Business
BlackRock tells senior staff to work in the office five days a week | Crain’s New York Business
Largest commercial real estate brokerages in New York | Crain’s New York Business
Vornado Realty Trust forecasts sharp increase in office occupancy | Crain’s New York Business
New York YIMBY
New Design Revealed for 2 World Trade Center in Financial District, Manhattan – New York YIMBY
New Developments Coming to Manhattan’s Upper East Side – New York YIMBY
Façade Installation Begins on New Museum’s Expansion on Manhattan’s Lower East Side – New York YIMBY
245 Park Avenue Prepares For Renovations, Partial Re-Cladding in Midtown East, Manhattan – New York YIMBY
Housing Lottery Launches for 555 West 45th Street in Hell’s Kitchen, Manhattan – New York YIMBY
New York Post
Amazon closes purchase of 522 Fifth Ave – NY Post.
NWSL moving headquarters to 551 Fifth Ave.
Exclusive | 550 Madison Ave. — maybe Midtown’s most coveted office location — now nearly 100% leased – NY Post
Fintech giant Chime moving to bigger space on Fifth Ave NYC – NY Post
