Prepared by Richard Plehn
Welcome to the November edition of our Real Estate Newsletter! As autumn paints the city in vibrant hues, the New York real estate market remains as captivating as ever. In this issue, we bring you the latest updates on the trends shaping the landscape, exclusive insights into coveted neighborhoods, and info to navigate the dynamic market conditions. Whether you’re exploring investment opportunities, searching for your dream home, or simply staying abreast of the market, our newsletter aims to be your trusted guide in the bustling world of New York real estate. Join us as we uncover the trends, opportunities, and stories that define this captivating market in November.
Follow Richard Plehn on socials
Real Deal
Stroock’s Real Estate Group Moves to Hogan Lovells (therealdeal.com)
As CRE Brokerage SquareFoot Scales Back, CEO Jumps to JLL (therealdeal.com)
Commercial Observer
Law Firm Meltzer Lippe Expands at 70 East 55th Street – Commercial Observer
Canela Media Expands to 8K SF at 370 Lexington Avenue – Commercial Observer
Insurance Brokerage IMA Financial Opens 10K-SF Office at 1155 Avenue of the Americas – Commercial Observer
BBVA Signs 74K-SF Lease to Relocate to 2 Manhattan West – Commercial Observer
Law Firm Scott+Scott Expands to 21K SF at the Helmsley Building – Commercial Observer
How 477 Madison Avenue Tore the Slifka Family Apart – Commercial Observer
Consultants Capalino Associates Leases 8K SF at 730 Third Avenue – Commercial Observer
Productivity App Notion Expands NYC Office at 75 Varick Street – Commercial Observer
Cosmetics Brand Owner Orveon Moving to 23K SF at 579 Fifth Avenue – Commercial Observer
Hedge Fund Quadrature to Open First US Office at Puck Building – Commercial Observer
Crain’s New York
NYC Deals of the Day: Nov. 22, 2023 | Crain’s New York Business (crainsnewyork.com)
Tracking return to office data in New York City offices | Crain’s New York Business (crainsnewyork.com)
In WeWork’s final stretch before Chapter 11, vacancies rose and losses widened | Crain’s New York Business (crainsnewyork.com)
Brookfield Properties inks major Hudson Yards lease with Spanish bank BBVA | Crain’s New York Business (crainsnewyork.com)
New York Post
Donald Trump to testify at NYC $250M civil fraud trial Monday (nypost.com)
Judge orders WeWork to cough up records on broken lease at NYC skycraper (nypost.com)
Bisnow
FDIC Terminates First Republic’s 212K SF Hudson Yards Office Lease (bisnow.com)
Loan On Trump’s 40 Wall Sent To Special Servicing (bisnow.com)
More Landlords Chart Post-WeWork Path, Including A Residential Conversion (bisnow.com)
Nightingale Faces Foreclosure Suit At Midtown Office Building (bisnow.com)
Former SquareFoot CEO, Savills President Joining JLL (bisnow.com)
Landlords Push Back On WeWork’s Lease Rejections (bisnow.com)
New York YIMBY
JPMorgan Celebrates the Topping Out of its Supertall Headquarters at 270 Park Avenue in Midtown East, Manhattan – New York YIMBY
Amtrak and Vornado Unveil Revamped Entrance at New York Penn Station (newyorkyimby.com)
118-124 Tenth Avenue Awaits Construction Activity in Chelsea, Manhattan – New York YIMBY
Wall Street Journal
Office Landlords Can’t Get a Loan Anymore – WSJ
Office Stocks Post Biggest Rally in Three Years. Their Real-Estate Problems Remain. – WSJ
