Articles of the week ending June 12th
How AI Startups Are Rewriting Office Leasing in SF and NYC
By Elizabeth Cryan, The Real Deal
AI companies are rapidly becoming one of the most influential office tenant groups in New York and San Francisco, leasing space at unprecedented speed, demanding flexibility for explosive growth, and driving landlords to adapt buildings and leasing strategies to capture the next high-growth tech giant.
Starr expands at BXP’s New York trophy tower well ahead of opening
By Andria Cheng, CoStar News
Starr’s expansion at 343 Madison Avenue years before opening highlights the intense demand for premium Manhattan office space, allowing landlords like BXP to command record rents as financial and investment firms compete for scarce trophy offices with luxury amenities and prime locations.
Olmstead Buys 19 West 44th Street From Savanna at a 45% Haircut
By Andrew Coen, Commercial Observer
The sale of 19 West 44th Street at a 45% discount highlights ongoing value resets in older Manhattan office assets, while investors such as Olmstead Properties are betting that renovations, flexible prebuilt offices, and demand from AI and technology tenants can drive future leasing growth and value creation.
RXR Puts Helmsley Building Up for Sale for Roughly $670M
By Isabelle Durso, Commercial Observer
The decision by RXR to market the landmark Helmsley Building for about $670 million reflects renewed confidence in Manhattan’s office market, while also highlighting how owners of underlease office properties are seeking exits or recapitalizations after facing debt and refinancing challenges.
Forget Tech – Law Firms Are Driving Manhattan Office Leasing
By Emily Davis, Commercial Observer
Manhattan office leasing in 2026 is being led by law firms, which are expanding and renewing aggressively due to hiring growth and limited high-quality space, resulting in major deals and strong demand across top office buildings.
New York City Is Leading the U.S. in Apartment Construction. Yes, Really.
By Amanda Schiavo, Commercial Observer
New York City is experiencing a major apartment construction boom, driven by rezoning efforts, tax incentives, and strong demand, with record-high housing completions and the city leading the U.S. in multifamily development despite ongoing affordability and supply challenges.
The New York Knicks Were Stonecutters Last Night
By Robert Knakal, Commercial Observer
The article argues that the Knicks comeback reflects the Stonecutter’s Creed that major achievements are built through many small consistent efforts over time rather than a single defining moment.