The Real Deal New York

Posts Tagged ‘cassidy turley’

  • From left: chief executive and president of Lebenthal Holdings Alexandra Lebenthal, chief executive of Lebenthal Wealth Advisors Frank Campanale and 230 Park Avenue

    From left: chief executive and president of Lebenthal Holdings Alexandra Lebenthal, chief executive of Lebenthal Wealth Advisors Frank Campanale and 230 Park Avenue

    A wealth advisory firm has signed a contract to sublet more than 40,000 square feet of space at Invesco’s Helmsley Building above Grand Central Terminal. [more]

  • Manhattan office market

    Manhattan office market

    Class A office spaces larger than 100,000 square feet in Midtown South tumbled to their lowest availability rate in more than seven years, while asking rents around Manhattan continued their steady climb, according to the 2014 First Quarter Office Market Report from commercial brokerage Cassidy Turley.

    Manhattan Class A office rents hit an average ask of $73.77 in the first quarter, a 5.6 percent year-over-year uptick from $69.81 in the first quarter of 2013. Vacancy rates dropped to 10.4 percent from 11.8 percent, while the borough reported an absorption rate of 1.5 million square feet. “Vacancy is declining, rental rates are increasing, but they are not skyrocketing,” said Peter Hennessy, president of New York Tri-State region for Cassidy Turley. [more]

  • 333-seventh

    333 Seventh Avenue

    Fashion Institute of Technology grabbed 55,000 square feet at Samco Properties’ 333 Seventh Avenue in Chelsea, according to brokerage Cassidy Turley. [more]

  • lease

    Nonprofit and public sector leases cranked boomed in 2013, more than doubling the amount of space taken by the two sectors since 2011.

    More than 5.7 million square feet were leased by the two sectors in 2013 — up 36 percent from 2012, according to data from Cassidy Turley’s 2013 nonprofit and public sectors report. [more]

  • Manhattan office availability

    Manhattan office availability

    Office leasing in Midtown rebounded in February, as employment growth, which surpassed the 2007 pre-recession peak, drove demand and pushed up asking rents, according to commercial brokerage Cassidy Turley. [more]

  • 2-park

    2 Park Avenue and Ralph Giordano

    An Israeli textile company is the latest tenant to join Morgan Stanley Real Estate Fund’s office tower at 2 Park Avenue, between 32nd and 33rd streets.

    Delta Galil grabbed a 47,000-square-foot sublease from French cosmetics maker Coty for the next eight years. Both the sublessee and sublessor pay in the $40s per square foot for the space. Delta Galil currently subleases at 6 East 32nd Street and plans to move to the nearby Park Avenue spot in the spring. [more]

  • From left: Midtown Manhattan,

    From left: Midtown Manhattan, January Manhattan office rents and vacancy rates

    UPDATED, 12:15 p.m., Feb. 7: Class A office space in Midtown South tumbled to its lowest vacancy rate since early 2006 while asking rents across Manhattan lurched upward, according to the January Manhattan Office Market Report from commercial brokerage Cassidy Turley. [more]

  • time-warner-cable

    From left: 43 West 23rd Street, inside Time Warner Cable Experience Store in Staten Island, and Mark Boisi

    Time Warner Cable inked a 20,000-square-foot deal to open a flagship for its interactive Experience Store at the former site of Castro Convertibles in the Flatiron District.  [more]

  • real-capital-analytics

    From left: Cassidy Turley’s Adam Ardise, 110 Fifth Avenue and Real Capital Analytics’ Robert White

    An 11-story Beaux-Arts office tower owned by Rabina Properties and Samson Management has reached full occupancy after commercial real estate research firm Real Capital Analytics recently grabbed more than 16,000 square feet on the seventh floor. [more]

  • From left: Richard Persichetti and 4 World Trade Center

    From left: Richard Persichetti and 4 World Trade Center

    Asking rents for Class A office space in Midtown surpassed $80 per square foot for the first time in five years, according to the fourth-quarter market report from commercial brokerage Cassidy Turley. And while the rental rates ticked up only slightly — up 8 percent to $80.03 per foot from $74.05 in the final quarter of 2012 — the benchmark set a new high that, along with rents topping $70 per square foot in Midtown South, is drawing tenants Downtown. [more]

  • Joseph Stettinius, Jr.

    Joseph Stettinius, Jr.

    Commercial real estate firm Cassidy Turley may soon be partnering up, merging with or selling outright to Newmark Grubb Knight Frank or the Blackstone Group.

    The firm reportedly hired JPMorgan as an advisor over the summer, aiming to drum up equity and accelerate expansion plans. The goal is to find a match before the end of 2013. JPMorgan asked NGKF, Blackstone and Andrew Farkas’ Island Capital to provide a valuation of Cassidy along with investment proposals, according to a news report. [more]

  • Peter Hennessy of Cassidy Turley

    Peter Hennessy

    In a reversal from last year, Midtown office leasing continues to improve, while the market to its immediate south continues to see vacancy rise, a market report released today by commercial brokerage Cassidy Turley shows.

    Vacancy in Midtown in November fell to 10.8 percent, down from 11.1 percent in the same month last year — the lowest rate Cassidy Turley has recorded since 2008. Average asking rents were $72 per square foot in Midtown, up 11.6 percent from $64.50 in the same period last year. [more]

  • From left: Cushman & Wakefield's Harry Blair and 183 Madison Avenue

    From left: Cushman & Wakefield’s Harry Blair and 183 Madison Avenue

    The company that makes the leather goods sold by Kenneth Cole, Timberland and Marc New York is staying put for another 10 years at at 183 Madison Avenue, owned by Inversiones y Representaciones Sociedad Anóma. [more]

  • Figures from Cassidy Turley

    Figures from Cassidy Turley

    Manhattan office leasing continued to recover in the third quarter, although some segments of the market began to stratify, per reports from leading commercial brokerages, released today.

    Class B rent increases outpaced those for Class A space, while the very high-end of the leasing market held strong – more than 50 leases with taking rents over $100 per square foot have now been signed in 2013, Cassidy Turley’s numbers show. [more]

  • 527 Madison Avenue

    527 Madison Avenue

    Three financial firms have signed leases at Midtown trophy 527 Madison Avenue, The Real Deal has learned. New York City-based hedge fund Long Pond Capital signed a four-year, 8,200-square-foot lease for the 15th floor of the tower, at 54th street, while fixed-income brokerage and financial advisory firm Wunderlich Securities took the 10th floor’s 8,600 square feet, for five years.

    A second hedge fund, Meru Capital, also signed an approximately 8,000-square-foot lease, renewing their 17th floor space for six years, and bringing the vacancy in the approximately 200,000-square-foot building to 5.9 percent, according to CoStar Group data. [more]

  • From left: Richard Persichetti of Cassidy Turley and Midtown Manhattan

    From left: Richard Persichetti of Cassidy Turley and Midtown Manhattan

    The Manhattan office leasing market saw a surprisingly hot close to the summer. Vacancy in the borough now sits at 11.2 percent – the lowest since 2008, according to a monthly office market report from commercial brokerage Cassidy Turley, released today. [more]

  • 292-madison

    292 Madison Avenue

    Digital advertising company Exponential Interactive inked a lease for an 11,113-square-foot space on the 11th floor of Marciano Investment Group’s 292 Madison Avenue.

    The landlord plans to begin a nine-month retail renovation later this month to restore the 26-story, 204,000-square-foot building’s 7,700-square-foot ground-level space. Newmark Grubb Knight Frank brokers William Cohen and Ryan Kass represented Marciano in the deal. Nicky Heryet and Stephen Bellwood, both of Cassidy Turley, represented the tenant. The Emeryville, Calif.-based Exponential Interactive previously operated at 1359 Broadway. [more]

  • Day in the life of: Peter Hennessy

    August 19, 2013 04:30PM

    Peter Hennessy

    From the August issue: 4:45 a.m. I get up at 4:45 at my house in Bedford, N.Y., and take my two dogs for a walk before I do anything else. We have an English Springer Spaniel named Macallan, like the Scotch, and a Pomeranian-Chihuahua mix — a rescue — called Scarlet. My wife, Lisa, refers to her as a “Chi-Pom.”

    5:15 a.m. I work out in the basement. It’s not a gym; it’s a concrete slab at grade, and I have an old bike and elliptical machine, and a little TV. [more]

  • one-seaport-burton-resnick-steve-friedman

    One Seaport Plaza and Burton Resnick (Resnick photo credit: Steve Friedman)

    Epsilon Data Management, a Texas-based marketing firm under the wing of Alliance Data Systems, signed a lease for nearly 34,800 square feet at One Seaport Plaza, the New York Post reported.

    The firm will relocate its New York office from 16 West 20th Street in the Flatiron District to the Plaza at 199 Water Street in the Financial District. Jack Resnick & Sons’ 35-story building, where asking rents are in the high $40s per square foot, is now at full occupancy, the Post said. [more]

  • New York City

    New York City

    The Manhattan office market enjoyed 1.7 million square feet of positive absorption in the second quarter, wiping out the negative absorption from the first quarter, according to the latest office market report from Cassidy Turley.

    Overall leasing activity reached 17.1 million square feet in the first six months of the year, a 5.1 percent year-over-year increase. Class A asking rents dropped $0.48 per square foot to $69.32, while Class B asking rents continued to rise, up 5.5 percent since the first quarter to $50.78 per square foot. [more]