Articles of the week ending September 11th
25 Years After the Sept. 11 Attacks, Lower Manhattan Is Thriving
By Peter Grant, The Wall Street Journal
Lower Manhattan has made a remarkable comeback 25 years after 9/11, with a tripled residential population, diversified businesses, major investments, and improved amenities transforming the Financial District into a vibrant live work neighborhood.
A Wave of New York Office Tower Listings Tests the Market’s Recovery
By Emily Davis, Commercial Observer
New York’s office investment market is gaining momentum as strong leasing demand, improving debt markets, and renewed institutional interest drive more Class A Manhattan towers onto the market, creating opportunities for buyers while sellers capitalize on stronger pricing conditions.
How Prologis Conquered The World
By Mike Phillips, Bisnow
Prologis has become a global logistics real estate powerhouse through disciplined acquisitions, strong market expertise, and expansion into data centers, renewable energy, and other technology driven services.
‘We’re going to rebuild’: The promise that reshaped Lower Manhattan
By Andria Cheng, CoStar News
Lower Manhattan’s World Trade Center has evolved from a post 9/11 rebuilding effort into a thriving mixed use neighborhood, with rising office rents, strong leasing demand, record occupancy, improved transit and amenities, and a growing appeal to technology, media and creative companies.
Owners of Class A tower at 1140 Avenue of the Americas face total loss
By Aaron Elstein, Crain’s New York Business
1140 Sixth Ave. lost nearly all of its value after vacancies surged, weak below market rents and the financial problems of its ownership group left the once Class A Midtown office building facing foreclosure and an expected 92% discount.
By Brian Pascus, Commercial Observer
SL Green sold 110 Greene Street in SoHo for $226 million, below its $255 million 2015 purchase price, as the REIT accelerates its strategy to sell up to $2.5 billion of commercial and residential properties.