Articles of the week ending February 13th
Vornado Reports Flat Q4 Earnings But ‘Robust’ Leasing Demand
By Amanda Schiavo, Commercial Observer
Vornado reported slightly lower fourth quarter earnings but beat revenue expectations and highlighted strong leasing demand in Manhattan, expressing confidence that New York is entering a prolonged landlord favorable market.
NYC Top Office Leases January 2026
By Lucas McGill, The Real Deal
Tech companies led Manhattan office leasing in January with four of the top ten deals including major commitments from PayPal, EliseAI and Notion, signaling strong demand from the tech and AI sectors.
US office tenant demand is back in positive territory
By Katie Burke, CoStar News
US office tenant demand turned positive in 2025 for the first time since 2019 with leasing activity exceeding space reductions, signaling a stabilizing market and a potential shift toward a landlord favorable environment.
Lenders open wallets for wave of New York office-to-residential conversions
By Andria Cheng, CoStar News
Lenders are increasingly financing office to residential conversions in Lower Manhattan as aging office buildings are redeveloped into apartments amid high vacancy rates and strong housing demand.
Brookfield Properties’ $800M Refi of 225 Liberty Street_ Behind the Deal
By Cathy Cunningham, Commercial Observer
Brookfield secured an oversubscribed 800 million dollar CMBS refinancing for 225 Liberty Street with the tightest office pricing since 2022, reflecting strong investor demand for high quality fully leased Manhattan office assets.
Vornado’s 2025 Manhattan office leasing volume best in over a decade, CEO says
By Andria Cheng, CoStar News
Vornado Realty Trust CEO Steven Roth said Manhattan is entering its strongest landlord market in 20 years after the firm achieved its highest office leasing volume in over a decade in 2025 and called its $218 million purchase of 623 Fifth Avenue its best deal ever with plans to redevelop it into a premier boutique office property by 2027.
Citadel Takes Stake in Vornado’s 350 Park Avenue
By Kathryn Brenzel, The Real Deal
Ken Griffin has taken a 60 percent stake in the joint venture to redevelop 350 Park Avenue with Vornado Realty Trust and Rudin Management as demolition nears and Citadel may expand beyond its planned 850000 square feet while Vornado reported higher annual FFO despite a lagging stock price.