Prepared by Richard Plehn
Welcome to this week’s edition of the Weekly Commercial Real Estate News! In this issue, we cover the latest market trends, notable deals, and major developments shaping the commercial real estate landscape in New York and beyond. Stay tuned for in-depth coverage of the industry’s most significant updates.
We’re also excited to continue The Real Estate Rundown, our YouTube interview series exploring the world of commercial leasing. Tune in for insights from landlords, tenants, agents, architects, and more. Check out my conversation with Adam Bacall from Creative Office Resource—now streaming on YouTube!
Follow Richard Plehn on socials
The Real Deal
Co-working Company The Malin Subleases in Flatiron District – The Real deal
Haymes’ 5 Penn Plaza Debt Heads to Special Servicing – The real Deal
Savanna Teetering on Edge of Foreclosure at 521 Fifth Avenue – The Real Deal
Kaufmans Offload Third Ave Office Tower to Market Newcomer – The Real Deal
Elo Organization buying Midtown building – The Real Deal
Nightingale Loses One of Last Manhattan Properties – The Real Deal
Bisnow
City Pauses Lease At Office Tower Owned By Adams Donor – Bisnow
5 Penn Plaza’s $260M CMBS Loan Hits Special Servicing – Bisnow
This Week’s N.Y. Deal Sheet: Sotheby’s Closes $100M Deal For Former Whitney Museum (November 11, 2024) – Bisnow
Nightingale Properties’ Midtown Office Tower Seized By Lenders – Bisnow
Inside Park 53: A Premier Office Tower In Manhattan’s Plaza District – Bisnow
This Week’s N.Y. Deal Sheet: Flatiron Building Conversion Lands $357M (October 10, 2024) – Bisnow
Issac Hera Takes Over Former Maxwell Hotel After $234M Foreclosure – Bisnow
REPORT: Amazon In Talks For 350K SF Office Next To NYC HQ – Bisnow
The Commercial Observer
National Museum of Mathematics Moving to 34K SF at 635 Avenue of the Americas – Commercial Observer
Legal Aid Society Takes Over 44K SF From S&P Global at 55 Water Street – Commercial Observer
Law Firm Davidson Kappel Keeps 3K-SF Office at GFP’s 589 Eighth Avenue – Commercial Observer
Law Firm, Uniform Company Ink Deals at Feil’s 145 West 30th Street – Commercial Observer
Verizon Renews Lease for 172K-SF Data Center at 60 Hudson Street – Commercial Observer
Law Firm Kauff McGuire & Margolis Signs Lease at 810 Seventh Avenue – Commercial Observer
Tens of Millions of Square Feet of Manhattan Office Leases Expiring – Commercial Observer
Streaming Service Dazn Signs 10K-SF Lease at 470 Park Avenue South – Commercial Observer
Noor Staffing Inks 15K-SF Lease at ‘Club Row’ Building – Commercial Observer
Human Services Organization Rising Ground Takes 27K SF at 111 Livingston Street – Commercial Observer
Equinox Signs 30K-SF Deal for Second Hudson Square Gym at 75 Varick – Commercial Observer
Law Firm Barros & Errázuriz Takes 3K SF at 106 West 56th Street – Commercial Observer
Law Firm Kozusko Harris Duncan Expands to 15K SF at 575 Madison Avenue – Commercial Observer
Governor’s Office to Move to New 53K-SF Office at 919 Third Avenue – Commercial Observer
Junior Achievement of New York Secures 10K-SF Lease at 230 West 38th Street – Commercial Observer
New York Post
The largest fountain in the city can now be yours for $5M a year – New York Post
Why the value of NYC’s best buildings is plummeting – New York Post
Inside NYC’s newest luxury office towers – New York Post
Crain´s New York
1 Park Avenue stripped of AAA rating | Crain’s New York Business
HGTV designers Berkus and Brent sell a Village penthouse for the second time in a decade | Crain’s New York Business
Edmond Safra picks up Lenox Hill antiques store site Dalva Bros. for $20M | Crain’s New York Business
NYC Deals of the Day: Nov. 11, 2024 | Crain’s New York Business
DAZN leases with SJP Properties on Park Avenue South | Crain’s New York Business
Edmond Safra picks up Lenox Hill antiques store site Dalva Bros. for $20M | Crain’s New York Business
681 Fifth Ave. in foreclosure as retailers decline leases | Crain’s New York Business
NYC Deals of the Day: Nov. 7, 2024 | Crain’s New York Business
Trump victory bodes well for New York real estate, Newmark | Crain’s New York Business
NYU to lease most of Vornado’s 770 Broadway | Crain’s New York Business
Wall Street Journal
Led by AI, Tech Demand for Office Space Is on the Rise – WSJ
Real-Estate Scions Are Breaking a Cardinal Rule: Never Sell – WSJ
An Old NYC Sugar Factory Is Now a Swanky Office. It’s Still Waiting on Tenants. – WSJ
Exclusive | OpenAI Is Putting Down Office Roots in New York – WSJ
