The Real Deal New York

Posts Tagged ‘cassidy turley’

  • Manhattan office

    Manhattan office

    The Manhattan office market continued along an upward trajectory in the third quarter of 2014, as rising employment increased the number of office users in the borough. [more]

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  • Investor group to buy Cassidy Turley

    September 22, 2014 08:30AM
    Cassidy Turley CEO Joe Stettinius

    Cassidy Turley CEO Joe Stettinius

    A group of investors — including private-equity firm TPG — is reportedly buying commercial brokerage Cassidy Turley.

    The deal could be announced Monday, according to the Wall Street Journal. Cassidy Turley has more than 60 offices across the country. Investment management firm PAG Asia Capital and Ontario Teachers Pension Plan are also part of the group that is planning to buy Cassidy Turley, the Journal reported. [more]

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  • 99 Park Avenue (Credit: CoStar Group)

    99 Park Avenue (Credit: CoStar Group)

    Risk management software company Numerix is taking 31,615 square feet at Eastgate Realty’s 99 Park Avenue, The Real Deal has learned. Numerix is taking space formerly occupied by online advertising network Collective.

    In the sublease deal, Numerix will pay rents starting in the low $40s per square foot for its fifth floor space at the 26-story, 640,000-square-foot building, located between 39th and 40th streets. [more]

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  • nyc-officeTOPThe Manhattan office market chugged along in the final month of a busy summer, buoyed by a booming tech sector that is increasingly in expansion mode in Midtown South and beyond.

    Manhattan Class A office space went for an average ask of $75.54-per-square-foot last month, up 8.8 percent from $69.42 in August 2013, according to commercial brokerage Cassidy Turley’s latest Manhattan Office Market Report. The borough had an absorption of 1.2 million square feet, according to the report, and overall availability tumbled below 35 square feet for the first time since December 2008. [more]

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  • From left: Cassidy Turley president Peter Hennessy and managing principal Joseph Swingle and TPG Capital co-founders David Bonderman, James Coulter and Bill Price III

    From left: Cassidy Turley president Peter Hennessy and managing principal Joseph Swingle and TPG Capital co-founders David Bonderman, James Coulter and Bill Price III

    Commercial real estate firm Cassidy Turley has reportedly entered acquisition talks with Texas-based private equity firm TPG Capital. [more]

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  • cassidy

    From left: 2 Penn Plaza, UBM CEO Tim Cobbold and Richard Bernstein

    Vornado Realty Trust signed marketing and communications firm UBM to a 26,444-square-foot space at Two Penn Plaza in Midtown.

    UBM, which acquired Canon Communications in 2010 for $287,000, inked a 10-year lease that consolidates three of its offices into one space. The company currently occupies an office in Manhasset on Long Island and two additional locations in the city. [more]

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  • Inside Horizon Media's Manhattan office space

    Office space in New York City

    The Manhattan office market held steady in July, as demand Downtown remained strong and Midtown benefitted from an uptick in finance sector jobs. [more]

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  • 277-park

    277 Park and Mark Boisi

    The Stahl Organization is looking to lease the 50,000-square foot penthouse office space at 277 Park Avenue.

    Continental Grain Company will soon leave the space vacant, opting to move to the General Motors Building at 767 Fifth Avenue. Asking rent is $125 per square foot, the New York Observer reported. Stahl is open to leasing individual floors of the duplex to separate tenants. Mark Boisi and James Frederick of Cassidy Turley are handling marketing. [more]

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  • View from Brookfield’s 5 Manhattan West Redevelopment Project (Source: Brookfield Office Properties)

    The Manhattan office market roared on in the second quarter of 2014, as demand surged Downtown as availability declined in Midtown. [more]

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  • Manhattan office

    Manhattan office

    The Manhattan office market rebounded in May following an April slowdown, as the media migration Downtown continued and activity in Midtown South held steady with a number of modestly-sized leasing deals, according to the May 2014 Office Market Report from commercial brokerage Cassidy Turley. [more]

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  • April Manhattan office market

    April Manhattan office market

    The Manhattan office market’s ongoing recovery slowed in April, as the overall ability rate rose, with roomy Midtown South offerings hitting the market, according to the April 2014 Office Market Report from commercial brokerage Cassidy Turley. [more]

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  • 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]

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  • 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]

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  • 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]

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  • 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]

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  • 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]

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  • 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]

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  • 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]

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  • 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]

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  • 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]

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