Prepared by Richard Plehn
Welcome to the May 6th edition of our Weekly Commercial Real Estate News!
As we kick off another month in the dynamic world of commercial real estate, we’re thrilled to bring you the latest insights, market trends, and breaking news on deals unfolding in this ever-evolving industry.
In this issue we’re poised to delve into the pulse of the commercial real estate market, exploring emerging trends across various sectors, from office spaces to retail, industrial, and beyond. Additionally, we’ll shine a spotlight on noteworthy deals that are making headlines, offering valuable insights into the shifting landscape of commercial property transactions.
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The Real Deal
American Eagle’s Midtown Office Lease Sets 2024 peak (therealdeal.com)
NYC Rent Board Eyes Up To 4.5% Hike in Preliminary Vote (therealdeal.com)
Manhattan Office Leasing Picked Up Steam In April (therealdeal.com)
Tesla Turns Off Related, Wildflower Leases for Charging Sites (therealdeal.com)
The Commercial Observer
American Eagle Outfitters Inks 338K-SF Deal at 63 Madison Avenue – Commercial Observer
Flushing Bank Keeping Office and Retail Presence at 99 Park – Commercial Observer
Leather Goods Maker Mundi Westport Moving Showroom to 11K SF at 366 Fifth Avenue – Commercial Observer
Travel Agency SmartFlyer Takes 8K SF at 530 West 25th Street – Commercial Observer
Crain’s New York
Tracking return to office data in New York City offices | Crain’s New York Business (crainsnewyork.com)
American Eagle to relocate NYC offices to 63 Madison Ave. | Crain’s New York Business (crainsnewyork.com)
Strong April boosts struggling Manhattan office market | Crain’s New York Business (crainsnewyork.com)
Bisnow
WeWork To Close Manhattan Headquarters, One Of Its Largest Coworking Locations (bisnow.com)
American Eagle Relocating NYC Offices To 338K SF In Midtown South (bisnow.com)
Manhattan Office Availability Ticks Down After Active April (bisnow.com)
New York YIMBY
Ekimetrics Relocates To 120 Broadway In Financial District, Manhattan (newyorkyimby.com)
Xadia Hotel Continues Ascent at 58 West 39th Street in Midtown, Manhattan – New York YIMBY
Torch & Crown Beer Garden Returns To Union Square Park In Flatiron (newyorkyimby.com)
JKS To Open New Location At 1245 Broadway In NoMad, Manhattan (newyorkyimby.com)
Weill Cornell Medical College Expansion Progresses at 1393 York Avenue on Manhattan’s Upper East Side – New York YIMBY
Public Review Process Begins For “City of Yes for Housing Opportunity” (newyorkyimby.com)
1522 First Avenue Nears Topping Out On Manhattan’s Upper East Side – New York YIMBY
Wall Street Journal
Office-Loan Defaults Near Historic Levels With Billions on the Line – WSJ
