Prepared by Richard Plehn
Welcome to the Weekly Real Estate Newsletter!
In this September 1st edition — the first issue of the month — we’re bringing you the latest from New York’s commercial real estate market, including major lease transactions, new development activity, and the trends shaping the city.
Whether you’re tracking significant deals or looking for timely market insights, this roundup delivers the essential highlights from the Real Estate office market in NYC.
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The Real Deal
David Werner Buys Hudson Yards Office at Big Discount – TRD
Work Stops at David Werner, Metro Loft’s Pfizer HQ Conversion – TRD
NYC’s Real Estate Rout: Office, Resi and Retail Hit Hard – TRD
Cohen to Sell 623 Fifth Ave to Vornado For Massive Discount – TRD
Metropolitan College Finds Buyer for Financial District Site – TRD
The Commercial Observer
American Eagle Outfitters Expands to 392K SF at 63 Madison Avenue – Commercial Observer
Investment Bank Gordian Group Takes 6K SF at Midtown East’s Tower 56 – Commercial Observer
Hudson Meridian Construction Group Subleases 14K SF at One State Street – Commercial Observer
Crain´s New York
David Werner buys 440 Ninth Ave. at steep discount | Crain’s New York Business
Embattled developer Charles Cohen sells 623 Fifth Ave. for just $218 million | Crain’s New York Business
Class A SoHo office building at 606 Broadway heads to foreclosure | Crain’s New York Business
New regulations for combining market-rate and stabilized units halt work at two Upper East Side towers | Crain’s New York Business
Bisnow
Charles Cohen Sheds Fifth Avenue Tower As He Tries To Fend Off Fortress – Bisnow
SL Green, Vornado Reportedly In Hunt To Buy Paramount Group – Bisnow
62-Story Passive House Tower Scores $535M For Construction: This Week’s N.Y. Deal Sheet (August 26, 2025) – Bisnow
New York YIMBY
LPC Designates Five Garment Industry Buildings As Individual Landmarks . New York YIMBY
Self-Storage Conversion, Expansion Underway at 152 West 36th Street in Midtown, Manhattan – New York YIMBY
1 Times Square Prepares For Fall Opening in Times Square, Manhattan – New York YIMBY
Vornado Realty Trust To Acquire And Redevelop 623 Fifth Avenue
JPMorgan Chase Tower Opens to First Employees at 270 Park Avenue in Midtown East, Manhattan – New York YIMBY
New York Business Journal
Kensico Capital seeks to convert 509 Madison Ave into hotel – New York Business Journal
Vornado to buy office space above Saks Fifth Avenue flagship – New York Business Journal
Utopia Bagels, Essex Squeeze sign leases at 875 Third Ave. – New York Business Journal
Nine Orchard Hotel sold for $92M on Lower East Side – New York Business Journal
Sukoshi to open Asian beauty store on the Upper East Side – New York Business Journal
Goose Property Management buys industrial Gowanus site – New York Business Journal
Uncertainty slows hotel market; restaurants struggle to stay afloat – New York Business Journal
Wall Street Journal
Zohran Mamdani’s Pledged NYC Rent Freeze Has Mom-and-Pop Landlords on Edge – WSJ
