May 2024

Articles of the week ending May 31st Vanbarton Group Defaults on 292 Madison Avenue By Rich Bockmann, The Real Deal Vanbarton Group has defaulted on a $90 million loan for their Midtown office building at 292 Madison Avenue, prompting Deutsche Bank to look to sell the non-performing loan.  Steve Cohen’s $8B casino jeopardized by Sen. […]

Articles of the week ending May 24th Signature Bank’s Collapse Spiked Silverstein Office Vacancy By TRD Staff, The Real Deal  Signature Bank’s collapse has led to a vacancy spike at Silverstein Properties’ 1177 Sixth Avenue, causing concerns for building ownership as tenants leave and vacancies increase. Scott Rechler’s RXR Faces Foreclosure on Madison Ave Office

Source: Placer.ai Office Index   Recovery leaders Miami and New York saw April 2024 office visits bounce back to 86.0% and 83.1%, respectively, of pre-pandemic levels.   Check out the full report here: Placer.ai Office Index April 2024

Articles of the week ending May 17th Look Out, Industrial Landlords_ Amazon Is Once Again Taking Down Big Blocks At A Rapid Clip Amazon is rapidly leasing warehouse space, with six deals of more than 1M SF signed in 2024, pointing to a turnaround in industrial absorption after pausing in response to pandemic demand. Lenders

Articles of the week ending May 3rd The Financial District Is Once Again On A Quest For A New Identity The Financial District in Manhattan is undergoing a transformation, seeking to establish a new identity through residential development and the growth of diverse businesses, including nightlife and dining options. Park Avenue Office Availability Now Under

Articles of the week ending May 3rd Bungalow Projects, Bain Capital plan production studio for Red Hook industrial site Bungalow Projects and Bain Capital Real Estate are partnering to build a production facility in the Red Hook neighborhood of Brooklyn. Flexibility Is How The Office Is Getting Its Groove Back The future of office demand