Prepared by Richard Plehn
Welcome to the September 16 edition of our Weekly Commercial Real Estate Digest! We’re excited to bring you the latest updates on market trends, significant deals, and crucial developments influencing the commercial real estate sector.
From cutting-edge innovations in office environments to standout transactions in the retail and industrial markets, our comprehensive coverage provides the insights you need to stay ahead in this dynamic field.
Join us as we delve into the market drivers and prominent deals making waves this week..
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The Real Deal
Christie’s, Yeshiva University lead NYC office leases last month (therealdeal.com)
JDS Development Leases Auction House Bonhams At 111 West 57th (therealdeal.com)
CBRE hires office broker Charles Laginestra (therealdeal.com)
Capstone Equities Buying Savanna’s 360 Lexington Avenue for $65M (therealdeal.com)
SL Green Scores 40% Off on Aby Rosen’s 522 Fifth Ave (therealdeal.com)
Top Cushman Office Broker Patrick Murphy Heading to JLL (therealdeal.com)
Upstate Film Production Push Faces Setback (therealdeal.com)
Eric Adams Attempts to Show City Serious About Local Law 97 (therealdeal.com)
New York Post
A 1950s tower on Madison Avenue is slated for demolition (nypost.com)
Owner of 60 Wall St. makes bold bet with massive $250M revamp (nypost.com)
Former Manhattan WeWork to be reborn as condos (nypost.com)
Bisnow
Werner, Karasick Default On $525M Loan Tied To Landmark Midtown East Tower (bisnow.com)
Larry Silverstein Continues Quest For World Trade Center Expansion, 23 Years Later (bisnow.com)
Related Files Demolition Plans For 625 Madison, Paving Way For New Luxury Building (bisnow.com)
SL Green Buys Debt On RFR’s Vacant Fifth Avenue Tower, Plans Partnership (bisnow.com)
Warner Bros. Discovery Finds Another Taker For 30 Hudson Yards Office Space (bisnow.com)
This Week’s N.Y. Deal Sheet: One Vanderbilt Hits 100% Occupancy With $265-Per-SF Lease (September 9, 2024) (bisnow.com)
The Ghost Of Office Past, Present And Future: How Landlords Are Managing After WeWork’s Bankruptcy (bisnow.com)
The Commercial Observer
Accounting Firm Armanino Takes 19K SF at 437 Madison – Commercial Observer
Events Company Posh Relocating to 11K SF at 40 Crosby Street – Commercial Observer
NYC Health + Hospitals Takes 10K SF at Murray Hill Medical Building – Commercial Observer
Bridgewater Set to Sign Lease for First NYC Office at 295 Fifth Avenue – Commercial Observer
The New School Renews 20K-SF Drama School in Westbeth Artists Housing – Commercial Observer
Schindler Elevator Moving to 23K SF at 1133 Avenue of the Americas – Commercial Observer
Crain´s New York
Stahl Organization pays $283 million to refinance 277 Park Ave. mortgage | Crain’s New York Business (crainsnewyork.com)
NYC Deals of the Day: Sept. 13, 2024 | Crain’s New York Business (crainsnewyork.com)
Eretz Group staves off foreclosure at Garment District office building (therealdeal.com)
New York YIMBY
Permits Filed for 105 West 108th Street on Manhattan’s Upper West Side – New York YIMBY
Proposal For Bard Graduate Center’s Study Building Set For Review (newyorkyimby.com)
The Perrie Nears Completion At 234 East 46th Street In Turtle Bay (newyorkyimby.com)
Aveda Arts & Sciences Institutes Announce Relocation Plan (newyorkyimby.com)
3 St. Mark’s Place Nears Completion in East Village, Manhattan – New York YIMBY
Wall Street Journal
Commercial Real Estate – News, Articles, Biography, Photos – WSJ.com
New York Business Journal
Work Group Strategies
Remote-work options are rapidly disappearing – Bizwomen (bizjournals.com)
The Future of Work Survey 2024 (jll.com)
A Quieter Back-To-Office Season, Outsmart The Resume Bots And AI Isn’t Cutting Many Jobs—Yet (forbes.com)
New York City Transactions Poised To Rise: Here’s The Opportunity (forbes.com)
Majority of Remote Workers Would Quit If Forced to Return to Office: Study – Newsweek
Companies Hope Making Offices Like Hotels Will Lure Workers Back – The New York Times (nytimes.com)
