Articles of the week ending April 25th Vornado catches break with less-than-expected ground rent for Penn 1 tower By Andria Cheng, CoStar News Vornado Realty Trust secured a significantly lower-than-expected annual ground rent of $15 million for its Penn 1 tower, easing financial pressure amid a challenging office market. Nonprofits, Education Tenants Offer Hope For […]
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Articles of the week ending April 18th Trio of Casino Bidders Fret Over Environmental Reviews By TRD Staff, The Real Deal Three Manhattan casino proposals by SL Green, Silverstein, and Soloviev Group risk disqualification due to delayed environmental reviews by the state Gaming Commission, threatening their ability to meet the September 30 land-use resolution
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Articles of the week ending April 11th World Trade Center is a bright spot in a languishing downtown Manhattan By Jared Koeck, CoStar Analytics The World Trade Center area is outperforming much of downtown Manhattan due to its high concentration of top-tier office buildings, but despite a major lease renewal by Jane Street, demand remains
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Articles of the week ending March 28th Vornado lands $450 million CMBS loan for high-profile Times Square retail space By Andria Cheng, CoStar News Vornado secured a $450 million CMBS loan to refinance its high-profile Times Square retail property at 1535 Broadway, highlighting both investor confidence and ongoing credit challenges in the recovering New York
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