The Real Deal New York

Posts Tagged ‘CBRE’

  • Wells Fargo Center

    Wells Fargo Center

    From the South Florida website: While the South Florida residential market has garnered attention with a profusion of new condos rising, the office market in the region is showing positive signs as well, a new report from CBRE shows.

    Miami’s office sector finished the second quarter of 2014 with a 15.5 percent vacancy rate, down from 16.2 percent during the first quarter and 17.3 percent during the second quarter of 2013. Landlords completed 160 lease transactions totaling 877,000 square feet during the quarter. The market’s average asking rental rate was $30.83 per square foot, an increase of 12 cents from the first quarter. [more]

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  • From left: One Wall Street, 1412 Broadway, 30 Rockefeller Center and Eastdil’s Doug Harmon and Adam Spies

    Large office property sales soared in the first half of the year, during which time New York-based commercial brokerage Eastdil Secured remained the sector’s top broker. [more]

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  • 4-wtc

    From left: 4 World Trade Center, Mary Ann Tighe and Jeremy Moss

    Marketing software developer MediaMath inked a 15-year lease for 106,000 square feet at Silverstein Properties’ 4 World Trade Center. [more]

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  • cbre

    Peter Turchin and 11 Madison

    The Manhattan office leasing market saw across-the-board increases in average asking rents, leasing activity and absorption in the second quarter – the first quarter this has occurred since 2000, according to a report from CBRE released today.

    Leasing activity in the borough so far this year climbed to 15.6 million square feet from 11.9 million square feet year-over-year. There was 8.3 million square feet of space leased in the second quarter, up from 6.8 million square feet in 2013’s second quarter. In the second quarter, Manhattan had an average asking rent of $65.37 per square feet, vacancy rate of 8 percent, availability rate of 11.5 percent and absorption level of 1.45 million square feet. [more]

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  • twitter-245-and-249-west-17th

    From left: Twitter logo, 245 and 249 West 17th Street

    Average asking rents in Midtown South have nearly closed the gap with those in Midtown, according to a new report from CBRE Group. [more]

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  • cbre

    Jeff Dunne and One Meadowlands Plaza

    CBRE Group said it brokered the sale of One Meadowlands Plaza, a 423,000-square-foot office tower in East Rutherford, N.J., to a firm called Vision Properties for $108.7 million.

    The building, known locally as the Met Center, is a 15-story LEED Gold office tower near MetLife Stadium and the American Dream, a massive 1.7 million-square-foot retail complex, with an additional million square feet of amusement space that is under development. [more]

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  • From left: Time Life Building, Mary Ann Tighe, Howard Fiddle

    From left: Time Life Building, Mary Ann Tighe, Howard Fiddle

    The search is on to find tenants for the Time Life building. [more]

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  • From left: 451 Lexington at 45th Street today and the corner in 2010

    From left: 451 Lexington at 45th Street today and the corner in 2010

    Two ground floor retail condominiums in the high-rise at 451 Lexington Street sold for $35 million, property records show. The two units total 5,175 square feet of space. [more]

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  • From left: 55 Broadway, Peter Turchin, Zachary Freeman and Jonathan Cope

    From left: 55 Broadway, Peter Turchin, Zachary Freeman and Jonathan Cope

    Harbor Group has named CBRE the agent for the 31-story 55 Broadway, a 361,000-square-foot office property also known as One Exchange Plaza. [more]

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  • From left: Scott Rechler and 237 Park Avenue

    From left: Scott Rechler and 237 Park Avenue

    RXR Realty scored its first big renewal at 237 Park Avenue after acquiring the 21-story office property with Walton Street Capital early last year. Prudential Financial-owned investment firm Jennison Associates renewed its lease for 146,000 square feet and added 20,000 square feet.

    The space’s asking rent is in the $80-per-square-foot range. Jennison is set to occupy part of the 19th floor, in addition to the 17th and 18th floors, as part of the 10-year renewal. [more]

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  • From left: 142 Mercer Street and the interior of an & Other Stories shop

    From left: 142 Mercer Street and the interior of an & Other Stories shop

    H&M’s sister label & Other Stories has chosen 575 Broadway in Soho’s Cast Iron District for the location of its flagship store. The planned opening later this year will mark the brand’s first footprint in the U.S. market. [more]

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  • Yelp CEO Jeremy Stoppelman (Credit: Business Insider) and 11 Madison Avenue (Credit: CoStar Group)

    Yelp CEO Jeremy Stoppelman (Credit: Business Insider) and 11 Madison Avenue (Credit: CoStar Group)

    Yelp, the online review website used by millions of New Yorkers and tourists to navigate the Big Apple, is finalizing a 140,000-square-foot office in the city, The Real Deal has learned. The company is in advanced discussions with the Sapir Organization and CIM Group to take the entire 14th and 16th floors of the 30-story tower at 11 Madison Avenue, located between 24th and 25th streets. [more]

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  • From left: TD Bank and renderings of the proposed 1 Vanderbilt

    From left: TD Bank and renderings of the proposed 1 Vanderbilt

    Toronto-based TD Bank is reportedly mulling a move to SL Green’s planned 65-story tower at 42nd Street, close to Grand Central Terminal. [more]

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  • From left: CBRE's David LaPierre and Amira Yunis at ICSC, 489 Broadway, Karen Bellantoni of RKF and Peter Braus of Lee & Assoc.

    From left: CBRE’s David LaPierre and Amira Yunis (at ICSC), 489 Broadway, RKF’s Karen Bellantoni and Peter Braus of Lee & Associates

    Manhattan’s real estate brokers hustled over the past weeks to finalize new assignments so that they would be ready for the International Council of Shopping Centers’ annual conference RECon, which wraps up today. [more]

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  • icsc

    From left: Robert Futterman, Patricia Garcia, David Edelstein, Simon Ziff, Laurie Golub, Gary Trock and Emanuel Stern

    New York City’s nearly 2,000-person contingent at the International Council of Shopping Center’s annual RECon conference in Las Vegas jumped from a day of pool lounging and dealmaking to party hopping last night. Click here for a slideshow and more.

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  • AY_JeddNero1

    Jedd Nero

    The Toronto-based brokerage firm Avison Young poached veteran retail leasing broker Jedd Nero from CBRE Group to lead the New York office’s push into store leasing, Avison Young said in a statement.

    Nero, who starts today at Avison Young, is a principal and executive managing director at his new firm and is the sole member of the retail group he’s charged with building up.

    He did not bring any other brokers or salespeople from CBRE, he told The Real Deal. [more]

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  • rebny

    From left: Mary Ann Tighe, Gregory Tosko and David Greene

    CBRE brokers Mary Ann Tighe and Gregory Tosko earned top honors last night at the Real Estate Board of New York’s annual “Most Ingenious Deal of the Year” awards.

    The duo was recognized with the first-place Henry Hart Rice Award for brokering the Coach’s lease for 740,000 square feet at a Hudson Yards tower. The win marked Tighe’s seventh Ingenious Deal award and Tosko’s sixth. [more]

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  • A rendering of 7 Bryant Park and Mary Ann Tighe

    A rendering of 7 Bryant Park and Mary Ann Tighe

    Law firm Reed Smith, which was in advanced discussions to take 30 percent of Hines’ under-construction office tower at 7 Bryant Park, is no longer in the running for the space, The Real Deal has learned. Hines is shopping for a new anchor tenant to occupy the 160,000-square-foot space at the base of the tower, a source familiar with the developer said. [more]

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  • 250 West 55th Street

    250 West 55th Street

    WEEKENDEDITION Three firms have made deals to occupy a total of 23,265 square feet at the recently-built 250 West 55th Street.

    Veracen Partners, RTW Investments & LifeSci Capital and Coltrane Asset Management have each signed leases for 11,263 square feet, 7,196 square feet and 4,806 square feet, respectively, at the nearly one million square-foot office property at Eighth Avenue. All three companies will occupy a portion of the 16th floor of the 38-story office tower. [more]

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  • cbre-facebook

    Sheldon Cohen and 770 Broadway

    Driven by low vacancy rates, Lower Manhattan office landlords have raised monthly rents by 4 percent since the year started, according to a report from commercial brokerage CBRE.

    Of note, the influx of technology companies into the area has played a key role in the rising rents citywide. Not surprisingly, the Midtown South office market — a veritable tech haven — boasts the lowest vacancies in the city, around 6 percent. Asking rents are $63 per square on average in the neighborhood, a 5 percent increase year-over-year. Meanwhile, Midtown asking rents rose by 7 percent to $74.27 per square foot. [more]

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