News
Manhattan Office Market is a Tale of Two Cities
The Manhattan office market is described as a “tale of two cities,” where the demand for modern, amenity-rich, and environmentally sustainable Class A and Trophy properties is surging, while older, less desirable buildings struggle. New projects and major renovations are setting a high bar for the “top end” of the market. Key Drivers and Projects […]
Read More....Businesses Committed to NYC Despite Mamdani
A recent CNBC article discusses the stark apprehension and mixed reactions from New York City’s real estate CEOs and business leaders following the election of Zohran Mamdani as mayor. Mamdani, a democratic socialist, ran on an affordability platform that includes several policies that directly challenge the real estate industry. Key Policy Concerns and Industry Reaction […]
Read More....$425 Million CMBS Loan for 32 Avenue of the Americas
Rudin Management Company has successfully secured a crucial multi-year extension on its $425 million CMBS loan for 32 Avenue of the Americas, a prominent 27-story Art Deco office tower located in Tribeca, Manhattan. The extension pushes the loan’s maturity date to November 2029, contingent upon Rudin exercising two one-year renewal options in 2027 and 2028. […]
Read More....Midtown Tower Hits Over 90% Occupancy with Moroccanoil Lease and New Dining Options
The 1185 Sixth Avenue tower in Midtown Manhattan has officially surpassed the 90% leased milestone, cementing its success in the recent Midtown leasing boom. The breakthrough came with a significant new lease from Moroccanoil, a luxury hair and body-care company. The 10-year commitment covers 39,799 square feet, encompassing the entire 33rd floor and a portion […]
Read More....TD Bank to Close 52 Locations Amid Shift to Digital Banking
TD Bank is planning a significant reduction of its physical footprint, announcing it will close 51 branches and one remote drive-thru location, totaling 52 sites, by the end of January 2026. This consolidation effort is a direct response to the growing customer preference for online and mobile banking over traditional brick-and-mortar visits. The spokesperson for […]
Read More....Rolex US Headquarters at 665 Fifth Avenue Nears Completion
An article from New York YIMBY reports that construction is nearing completion on the new 28-story Rolex US headquarters at 665 Fifth Avenue in Midtown, Manhattan. Designed by David Chipperfield Architects and developed by the Rolex Realty Company, the 469-foot-tall Rolex US headquarters structure will provide 199,000 square feet of office and retail space. The […]
Read More....US Office Market Forecast Upgrade
The national outlook for the U.S. office sector has seen a minor upgrade by CoStar, driven by strong market signals in the third quarter of 2025. Key Forecast Revisions Vacancy Peak: The updated forecast indicates that office vacancy is likely very near, or perhaps already at, its cyclical peak. Its descent is now anticipated to […]
Read More....Large NYC retailers are moving house, freeing up space
Manhattan’s retail landscape is undergoing a significant transformation, with large big box stores moving or closing, creating a surge of unique leasing opportunities in an already robust market. Brokers describe the current environment as “rocking,” characterized by strong demand and high transaction volume.The trend involves major retailers relocating, which frees up massive, desirable spaces. For […]
Read More....Rising US Office Leasing remains below pre-pandemic pace
Rising US office leasing still remains below pre-pandemic pace, signaling a long-term structural shift in the market rather than a simple cyclical upturn. While leasing activity saw a year-over-year increase in the third quarter, total volume for 2024 remains nearly 30% below the historical pre-COVID average, underscoring a fundamental recalibration of corporate real estate needs. […]
Read More....From Underdog to Frontrunner: Mamdani’s Ascent Alarms Developers
The stunning ascent of Zohran Mamdani, a once little-known state assemblyman who pulled off a surprise win in the Democratic primary to become New York City’s leading mayoral contender, is shaking up the commercial real estate world. Mamdani has built his campaign around progressive policies that directly challenge the city’s property establishment. He supports stronger […]
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