Prepared by Richard Plehn
Welcome to the Weekly Real Estate Newsletter!
In this September 15th edition, we’re sharing the latest updates from New York’s commercial real estate market — from major lease agreements and active development projects to the emerging trends reshaping the city.
Whether you’re keeping an eye on key transactions or looking for market insights to stay competitive, this roundup highlights the essential takeaways from NYC’s office market.
Follow Richard Plehn on socials
The Real Deal
Sephora Inks Lease At Brandon Miller’s East Village Office Project – TRD
Progressive Private School to Sell Building through Bankruptcy – TRD
Rudin’s 32 Sixth Avenue Hits Special Servicing – TRD
New York Top Real Estate Deals: Friday, Sept. 5, 2025 – TRD
Spanish Billionaire Swallows Loss at 366 Madison – TRD
Vornado Eyes $350M Penn District Rental Tower – TRD
Barnett Scores $1.2B Equity Infusion for Disney Campus, More – TRD
BXP Slashes Dividend to Help Finance 343 Madison Project – TRD
How WeWork Became Amazon’s Real Estate Fixer – TRD
MAP: Forecasting New Dev in Rezoned Midtown South – TRD
CMBS Distress Rate Climbs to Record 11.8% – TRD
Investment Firm Cottonwood Group Closes $1B Fund – TRD
Manhattan rents end record streak as Brooklyn notches new high – The Real Deal – TRD
New York Top Real Estate Deals: Wednesday, Sept. 10 – TRD
Barings Lends $230M to Refi Northwood’s Soho Properties – TRD
The Commercial Observer
Two Banks Ink Deals at RXR’s 230 Park Avenue – Commercial Observer
Industrious Set to Open Three New Coworking Locations in Manhattan – Commercial Observer
Medical Practice Network MD2 Takes 5K SF at 902 Broadway – Commercial Observer
Construction Firm Tutor Perini Signs 28K-SF Lease at 520 Eighth Avenue – Commercial Observer
Marketing Agency MSQ Partners Inks 38K-SF Lease at 50 West 23rd Street – Commercial Observer
Fintech Firm AngelList Inks 13K-SF Lease at 257 Park Avenue South – Commercial Observer
Crain´s New York
Fintech Firm AngelList Inks 13K-SF Lease at 257 Park Avenue South – Commercial Observer
BXP cuts dividend by 30% to pay for development of 343 Madison Ave. | Crain’s New York Business
SL Green wins better credit outlook from S&P and Fitch after selling assets, boosting occupancy | Crain’s New York Business
Fishs Eddy opening second NYC location, in Dumbo, with Two Trees | Crain’s New York Business
Office tower at 225-233 Park Avenue South to exit special servicing | Crain’s New York Business
Metro Loft, David Werner plan 675 Third Ave. office-to-residential conversion | Crain’s New York Business
Bisnow
Extell Lands $1.2B In Equity From Hedge Fund For 9 Projects — Including 1.8M SF Disney Redevelopment – Bisnow
BXP Cuts Dividend, Announces Asset Sale To Help Fund New Office Tower – Bisnow
Developers Strike Deal For Major Harlem Medical Center: The N.Y. Deal Sheet (September 9, 2025) – Bisnow
German Investor Buys NoHo Mixed-Use Building From REIT For $50M – Bisnow
New York YIMBY
New Park Revealed for 143 West 14th Street in Chelsea, Manhattan – New York YIMBY
Renderings Revealed for Hudson Ivy at 415 Ninth Avenue in Midtown West, Manhattan – New York YIMBY
JPMorgan Chase Holds Gathering to Honor Construction Workforce at 270 Park Avenue in Midtown East, Manhattan – New York YIMBY
New York Business Journal
AI firm Sigma takes temporary NoMad office space amid NYC expansion – New York Business Journal
Palladino’s Steak & Seafood to open at Grand Central Terminal – New York Business Journal
Tutor Perini signs six-year lease in Midtown – New York Business Journal
Dear Margo Mediterranean restaurant to open on Upper East Side – New York Business Journal
Three Pillars buys Manhattan development site – New York Business Journal
New York Post
Zara billionaire takes a big loss on Madison Avenue tower – NY Post
