Articles of the week ending October 2nd
Swiss running brand On signs office lease at Vornado’s Penn 1
By Andria Cheng, CoStar News
On signed a 15-year lease for 85,346 square feet at Penn 1, expanding its New York City office footprint as the Swiss running brand continues to grow.
New York office tower joins amenity race with major overhaul
By Andria Cheng, CoStar News
Elecor Properties is investing in more than 40,000 square feet of new amenities at 1633 Broadway, including lounges, dining options and conference facilities, with completion expected by mid-2028 to attract and retain office tenants.
Hedge Fund Castle Hook Takes Penthouse Office at Related’s 625 Madison Avenue
By Emily Davis, Commercial Observer
Castle Hook Partners signed a 15-year lease for the penthouse floors (52nd and 53rd) at Related Companies’ 625 Madison Avenue, joining other major financial firms committing to the upcoming Midtown tower, with options to renew for an additional 10 years.
Manhattan Class A Office Rents Hit Record High
By Elizabeth Cryan, The Real Deal
Manhattan’s Class A office market reached a record $85.45/SF in Q3 2026, while leasing exceeded 10 million SF for the fourth consecutive quarter and strong AI and TAMI demand continued to drive the market.
Manhattan’s Available Office Supply Falls to Lowest Level Since 2020_ Colliers
By Amanda Schiavo, Commercial Observer
Manhattan office leasing remained strong in Q3 2026, surpassing 10 million SF for the fourth consecutive quarter while available office space fell to its lowest level since 2020 and asking rents climbed to $85.08/SF.
Mitsui Fudosan Inks 200K SF Lease in Midtown Manhattan
By TRD Staff, The Real Deal
Morgan, Lewis & Bockius signed a 205,000-square-foot lease at 1251 Sixth Avenue in Midtown, relocating from 101 Park Avenue, as Manhattan’s Class A office asking rents reached a record $85.45 per square foot in Q3 2026. The deal highlights continued strong demand for large, high-quality Midtown office space.