Articles of the week ending November 21st
Mitsui Fudosan Signs Three Deals for 200K SF at 1251 Avenue of the Americas – Commercial Observer
By Mark Hallum, COMMERCIAL OBSERVER
Mitsui Fudosan America completed nearly 200000 square feet of leasing at 1251 Avenue of the Americas through major renewals and expansions by TCW Group, McGuireWoods, and RBC, reflecting strong tenant demand.
Financial Firm GFI Group Expands to 129K SF at 55 Water Street – Commercial Observer
By Mark Hallum, COMMERCIAL OBSERVER
GFI Group renewed and expanded its lease to 129000 square feet at 55 Water Street, marking the largest direct deal in the Financial District since 2023 and reinforcing its long-term commitment to the building.
Worldwide Plaza Surprise_ Gary Barnett Lined Up to Take Over
By TRD Staff, The Real Deal
Gary Barnett’s Extell Development acquired the mezzanine debt on Worldwide Plaza putting the firm in position to take control of the distressed tower at its January foreclosure auction.
Steve Cohen signs casino deal with city despite surprise court ruling _ Crain’s New York Business
By Nick Garber, Crain’s New York Business
Steve Cohen signed a pre development agreement with the city for his proposed Metropolitan Park casino next to Citi Field despite a court ruling, asserting the deal complies with the USTA lease and keeping the project moving toward a potential state license.
SL Green, RXR’s Worldwide Plaza Headed to Auction Block
By TRD Staff, The Real Deal
Worldwide Plaza is set for a January UCC foreclosure auction after defaults on senior and mezzanine debt with plunging occupancy and an eighty percent valuation drop since 2017.
Olmstead Properties Acquires Two Flatiron Office Properties in $104M Deal – Commercial Observer
By Amanda Schiavo, COMMERCIAL OBSERVER
Olmstead Properties resumed acquisitions with a $104M purchase of two Park Avenue South office buildings, launching its new Vertex investment platform to pursue strategic NYC office opportunities.