Articles of the week ending April 10th
RXR Creeps Forward at 175 Park Supertall
By TRD Staff, The Real Deal
RXR has filed updated plans for a 95-story, $6.5 billion mixed-use supertall at 175 Park Avenue near Grand Central Terminal, though it still needs financing and an anchor tenant before construction begins.
Tightening office conditions began in New York. Now they’re spreading to other major cities
By Victor Rodriguez, CoStar Analytics
Office space availability is declining across major U.S. markets including New York City, Houston, Boston and San Francisco as stronger leasing demand, fewer new developments and conversions reduce supply.
Scarcity at the top sends New York office rents beyond $320 a square foot
By Andria Cheng, CoStar News
Scarcity of top tier office space in New York City is pushing trophy building rents to record highs above $320 per square foot as demand from premium tenants outpaces supply.
Joint venture buys Greenwich Village office building
By Justin Hubbard with CoStar AI, CoStar Research
A joint venture between Bulldog Real Estate Partners and Acram Group acquired 88 University Place in New York City for $46 million with plans to upgrade and reposition the office building to attract modern tenants.
Nathan Berman And Idan Ofer Buying 1 Whitehall Street
By Rich Bockmann, The Real Deal
Nathan Berman and Idan Ofer are in contract to acquire 1 Whitehall Street in New York City for about $100 million and plan to convert the office building into residential apartments.
Global Holdings Doubles Down On Brooklyn And 25 Kent
By Marynia Kruk, Bisnow
Global Holdings Management Group is boosting leasing across its New York portfolio by investing in amenities and flexible office spaces, highlighted by strong tenant demand at 25 Kent in New York City.
ESRT Snags Another $46M Worth of Commercial Space in Williamsburg
By Emily Davis, Commercial Observer
Empire State Realty Trust acquired a $46 million commercial condo at 127 Kent Avenue in New York City as part of its continued expansion of retail and mixed use assets in Williamsburg.
New York City Still the Undisputed Champ in Attracting Tech and Finance
By Amanda Schiavo, Commercial Observer
New York City continues to lead in attracting tech and finance talent with strong job growth especially in the securities sector despite overall fluctuations in monthly hiring.