Articles of the week ending May 2nd
Top office leases recognized for New York City
By CoStar Research
CoStar’s Q1 2025 Power Broker Awards recognized major New York City office leases, including significant deals by Jane Street, Horizon Media, Mayer Brown, and Amazon, highlighting continued investment and activity in the commercial real estate market.
SL Green asks judge to let it retain Herald Square building after default
By Aaron Elstein, Crain’s New York Business
SL Green is fighting in court to retain control of 2 Herald Square after defaulting on $30 million in rent, despite a judge’s earlier ruling favoring landowners TIAA and Norges Bank.
Manhattan Office Leasing on Track for Best Year Since 2000
By Elizabeth Cryan
Manhattan’s office leasing market is rebounding strongly with rising demand, tightening availability, and major new leases driving momentum toward a potential full recovery.
How far are New Yorkers willing to walk to the office_ The answer is driving leasing.
By Aaron Elstein, Crain’s New York Business
Office buildings in Midtown Manhattan are seeing sharply different vacancy rates based largely on their walking distance from major transit hubs like Grand Central and Penn Station.
Deloitte Moving North American HQ To New Hudson Yards Tower
By Ciara Long, Bisnow
Deloitte has signed on for 800,000 square feet at a major new Manhattan office tower, signaling strong demand for premium office space post-pandemic.
Blackstone Group Favorite to Buy 590 Madison Avenue
By Rich Bockmann, The Real Deal
Blackstone is the leading contender to acquire 590 Madison Avenue for over $1 billion, potentially marking NYC’s priciest office deal in years due to its ability to self-finance amid a cautious market.
Aby Rosen’s RFR Sells 522 Fifth Avenue to Amazon
By Rich Bockmann, The Real Deal
Amazon has purchased the troubled 522 Fifth Avenue building from RFR, reflecting its growing New York footprint and rising demand for office space near Grand Central.