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Articles of the week ending May 23rd Warehouse developer Steven Guttman pockets $64 million from Queens refinancing _ Crain’s New York Business​ By Aaron Elstein, Crain’s New York Business​ A $143 million mortgage refinancing of the UOVO QPN art warehouse in Queens, which quietly houses works for elite collectors and institutions like the Met, highlights […]

Articles of the week ending May 9th News _ Brooklyn office market starts 2025 with a boost​ By Jared Koeck, CoStar Analytics​ Brooklyn’s office market began 2025 with a strong rebound, driven by larger leases and education tenants, signaling a shift toward recovery. PNC Bank Bags 83K SF at Sage’s 437 Madison​ By TRD Staff,

Articles of the week ending May 9th New York University signs Manhattan’s largest new office lease since pandemic​ By Andria Cheng, CoStar Research​ New York University signed Manhattan’s largest new office lease since the pandemic, securing 1.1 million square feet at 770 Broadway under a 70-year, $935 million prepaid triple-net lease to create a major

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

Articles of the week ending April 25th Vornado catches break with less-than-expected ground rent for Penn 1 tower​ By Andria Cheng, CoStar News​ Vornado Realty Trust secured a significantly lower-than-expected annual ground rent of $15 million for its Penn 1 tower, easing financial pressure amid a challenging office market. Nonprofits, Education Tenants Offer Hope For

Articles of the week ending April 18th Trio of Casino Bidders Fret Over Environmental Reviews​ By TRD Staff, The Real Deal ​ Three Manhattan casino proposals by SL Green, Silverstein, and Soloviev Group risk disqualification due to delayed environmental reviews by the state Gaming Commission, threatening their ability to meet the September 30 land-use resolution

Articles of the week ending April 11th World Trade Center is a bright spot in a languishing downtown Manhattan​ By Jared Koeck, CoStar Analytics​ The World Trade Center area is outperforming much of downtown Manhattan due to its high concentration of top-tier office buildings, but despite a major lease renewal by Jane Street, demand remains

Articles of the week ending March 28th Vornado lands $450 million CMBS loan for high-profile Times Square retail space​ By Andria Cheng, CoStar News​ Vornado secured a $450 million CMBS loan to refinance its high-profile Times Square retail property at 1535 Broadway, highlighting both investor confidence and ongoing credit challenges in the recovering New York

Articles of the week ending March 28th The Investor Who Won Big on Zombie Malls Is Going All In on Empty Offices​ By Kate King, BLOOMBERG NEWS​ Namdar Realty Group is betting on the recovery of the office market by acquiring distressed buildings at low prices, despite early setbacks and labor disputes.​ The Era Of

Articles of the week ending March 21st What Does It Take To Convert Office Space To Residential In NYC_ Industry Experts From SOCOTEC Weigh In​ By Emily DeNardo, Bisnow​ Office-to-residential conversions in NYC require structural modifications, zoning compliance, mechanical system upgrades, and can benefit from tax incentives and energy efficiency programs. NYC Landlords Pick Fines