Articles of the week ending May 1st
AI Giant Anthropic Near Deal to Lease All of 330 Hudson Street
By Lois Weiss, Commercial Observer
Anthropic is close to leasing the entire 330 Hudson Street building in Manhattan, signaling a major expansion of its New York City presence as part of its rapid national growth strategy.
Citadel’s Ken Griffin clashes with Mamdani on second home tax
By Kathryn Brenzel, Crain’s New York Business
Mayor Mamdani softened his stance on taxing wealthy nonresident property owners after Citadel threatened to reconsider its major New York City development, prompting business leaders to push for tax exemptions for major investors and job creators like Ken Griffin.
Lenders agree to conversion plan for 233 Park Avenue South office tower
By Aaron Elstein, Crain’s New York Business
Orda Management’s nearly vacant 233 Park Avenue South is positioned for a likely residential conversion as lenders approve restructuring plans and strong tax incentives make redevelopment increasingly attractive.
New York City’s Class B and C Office Recovery Is Real and Accelerating
By Robert Knakal, Commercial Observer
New York City’s Class B and C office market is rebounding faster than expected as office to residential conversions reduce excess supply, leasing demand strengthens, and investor confidence drives rising asset values.
High rents drive office sale in New York’s Meatpacking District
By Andria Cheng, CoStar News
Spear Street Capital acquired the fully leased 76 Eighth Avenue office building in Manhattan’s Meatpacking District for $50.5 million, reflecting strong investor demand for premium office assets with high rents in prime locations.
U.S. Office Demand Reaches Post-Pandemic High in Q1 2026
By Paul Bubny, Connect CRE
U.S. office demand reached its strongest post pandemic level in early 2026, led by finance, legal, and technology sectors, signaling renewed momentum despite broader economic uncertainty.
Vornado expands Park Avenue portfolio with another acquisition
By Aaron Elstein, Crain’s New York Business
Vornado Realty Trust expanded its Midtown Manhattan footprint by acquiring a 49% stake in Park Avenue Plaza for $539 million, reinforcing its strategic investment in high occupancy premium office assets along Park Avenue.