Prepared by Richard Plehn
Welcome to this week’s edition of our Weekly Commercial Real Estate News! We cover the latest market trends, major deals, and significant developments shaping the commercial real estate landscape in New York and beyond. Stay informed with our comprehensive updates on the most impactful movements in the industry.
Also, be sure to check out The Real Estate Rundown interview series on YouTube with Richard Plehn, delving into the world of commercial leasing, featuring conversations with landlords, tenants, agents, architects, and more.Tune in!
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The Real Deal
RXR, Hudson Bay Split Ownership, Recap 620 Sixth Avenue
Extell Buys Williams’ 655 Madison Ave Office Tower
Blue Owl Capital Expands Lease at Aby Rosen’s Seagram Building
Maguire About to Foreclose on Financial District Buildings
Bisnow
Tishman Speyer Lands $3.5B To Refinance Rockefeller Center
Extell Pays $160M For Madison Avenue Office Tower With An Eye On Luxury Condos
Bloomberg Expands Third Avenue Office To Nearly 1M SF
Charles Cohen Faces Fresh Trouble On Park Avenue
SL Green, RXR Hope To Modify $940M Worldwide Plaza Loan After Missing Debt Payment
This Week’s N.Y. Deal Sheet (October 10, 2024)
The Commercial Observer
Epidemic Sound Signs 9K-SF Lease at 205 West 28th Street – Commercial Observer
Fragrance Giant DSM-Firmenich Moving to 45K SF at 641 Avenue of the Americas – Commercial Observer
Little Scholars Leases 8K-SF Chelsea Retail Space for First Manhattan Day Care – Commercial Observer
After-School Tutor Lindamood-Bell Moving to Dumbo’s 203 Jay Street – Commercial Observer
Bloomberg Expands to Almost 1M SF at SL Green’s 919 Third Avenue – Commercial Observer
Wealth Management Firm Middlegate and AI Company Merlyn Mind Extend Leases at 8 West 40th – Commercial Observer
Headphone Maker Raycon Inks Deal for 7K SF at 33 East 33rd Street – Commercial Observer
Data Management Firm GoldenSource Relocates to Neighboring 115 Broadway – Commercial Observer
Blue Owl Capital Expands to 239K SF at RFR’s Seagram Building – Commercial Observer
Office Building Facelifts Along Park Avenue Spur ‘Tightest’ U.S. Submarket – Commercial Observer
Fintech Firm Maybern Signs 11K-SF Lease at 10 Astor Place – Commercial Observer
Marketing Company Brandtech Group Takes 16K SF at 155 Avenue of the Americas – Commercial Observer
Crain´s New York
Investors in Meatpacking District landmark buildings face a big loss | Crain’s New York Business
NYCB’s Flagstar Bank to cut 1,900 jobs by the end of 2024 | Crain’s New York Business
City announces a more than $350 million redesign of Fifth Avenue | Crain’s New York Business
New York YIMBY
Xadia Hotel Tops Out At 58 West 39th Street in Midtown, Manhattan – New York YIMBY
New Renderings Revealed For COOKFOX’s 80 Clarkson Street in West Village, Manhattan – New York YIMBY
650 First Avenue’s Office-To-Residential Conversion and Expansion Progresses in Murray Hill, Manhattan – New York YIMBY
2440 Fulton Street Nears Completion in East New York, Brooklyn – New York YIMBY
Wall Street Journal
High Home Prices Force Builders to Offer Mortgage Buydowns—and More – WSJ
At a Brooklyn Warehouse, Robots Are Reshaping the Grocery-Delivery Business – WSJ
Exclusive | OpenAI Is Putting Down Office Roots in New York – WSJ
