The Real Deal New York

Posts Tagged ‘CBRE’

  • 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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  • From left: Peter Turchin, Lower Manhattan and Sacha Zarba

    From left: Peter Turchin, Lower Manhattan and Sacha Zarba

    Downtown landlords took advantage of the area’s growing popularity by re-pricing about 1.5 million square feet of the 12.2 million square feet available in the first quarter of 2014. According to newly released data from CBRE Group, the vast majority of this space — about 1.43 million square feet — was priced higher. [more]

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  • Broadway Trade Center in Los Angeles

    Broadway Trade Center in Los Angeles

    A New York real estate firm is buying a former department store in downtown Los Angeles with plans of converting the property into a mixed-use development. [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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  • From left: Sean Black, 229 West 43rd Street (Credit: CoStar Group) and Sacha Zarba

    From left: Sean Black, 229 West 43rd Street (Credit: CoStar Group) and Sacha Zarba

    Welcome to the world of tech brokers, a group of dealmakers who are grabbing the headlines in the New York City leasing market and are responsible for some of the market’s biggest transactions. Their rise to prominence mirrors the growth in the city’s tech industry, which added 3,000 jobs in January, a year-over-year increase of 5.1 percent that was second only to the retail industry, according to a recent JLL report. … [more]

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  • normandy

    Normandy’s Finn Wentworth and 1370 Broadway

    Normandy Real Estate Partners has entered into contract to unload a 275,000-square-foot office building at 1370 Broadway near 37th Street for $186 million.

    The potential buyer is the State of Florida Pension Fund. Invesco Real Estate served as adviser on the deal, while CBRE brokers Bill Shanahan and Darcy Stacom marketed the site. [more]

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  • macys

    112 West 34th Street and Scott Gottlieb

    Macy’s is relocating several office divisions from the Hippodrome building into a Herald Square building near its store there.

    The 120,000-square-foot office space at Empire State Realty Trust’s 112 West 34th Street will span the third, fourth and seventh floors. Asking rent was in the mid-$50s per square foot. Those groups at the company were based out of 1080 Sixth Avenue, on a long-term lease. [more]

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  • one-NYP

    One New York Plaza

    Macmillan Science and Education group is the latest New York City publisher to head for new digs in Lower Manhattan.

    The privately-held company has inked a long-term, 176,121-square-foot lease for a new headquarters spot at Brookfield Properties’ One New York Plaza, according to a release from Colliers International, whose Leon Manoff arranged the deal on behalf of Macmillan. The entire Science and Education Group will migrate to the new spot by mid-2015, and will occupy the building’s entire 46th through 48th floors, as well as part of the 45th floor. A total of 950 employees will eventually work in the space. [more]

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  • From left: Mort Zuckerman, the GM Building at 767 Fifth Avenue and Ron Baron

    From left: Mort Zuckerman, the GM Building at 767 Fifth Avenue and Ron Baron

    UPDATED, 5:40 p.m., March 20: Money manager Baron Funds, founded by billionaire Ron Baron, is taking another 25,000 square feet at the GM Building, The Real Deal has learned. Along with the expansion on the 47th floor, Baron renewed its space on the 48th and 49th floors of the trophy tower. The fund firm will pay rents starting at just shy of $200 per square foot — and cross the rare $200 threshold over the course of the 20-year deal, sources said. [more]

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  • From left: 100-104 Fifth Avenue and Yelp CEO Jeremy Stoppelman

    From left: 100-104 Fifth Avenue and Yelp CEO Jeremy Stoppelman

    San Francisco-based business-review specialist Yelp is spreading out in the Midtown South space it leases from Clarion Partners. [more]

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  • david-levinson

    David Levinson and 511-541 West 25th Street

    L&L Holding Company has teamed up with Prudential to buy one of the few Hudson Yards-area properties that Related Companies is selling. The partnership is paying $160 million for the 200,000-square-foot office site at 511-541 West 25th Street, near the High Line in Chelsea.

    The price of the three conjoined buildings collectively skyrocketed, jumping up roughly 70 percent since Related picked it up for $92 million two years ago. CBRE Group brokers Darcy Stacom and Bill Shanahan marketed the site, which was listed for $160 million last month. [more]

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  • WeWork to expand at 25 Broadway

    March 05, 2014 06:57PM
    25 Broadway and WeWork's Adam Neumann

    25 Broadway and Adam Neumann

    Shared office space provider WeWork is in advanced discussions to up its presence at ACTA Realty’s Cunard Lines Building at 25 Broadway, The Real Deal has learned. WeWork is looking to take the entire fifth floor of about 42,371 square feet, which would give it just under 129,000 square feet at the building. [more]

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  • one-new-york

    1 New York Plaza and Jerry Larkin

    Cosmetics titan Revlon inked a 15-year lease for nearly 92,000-square-feet across two penthouse floors at Brookfield Office Properties’ 1 New York Plaza in Lower Manhattan.

    The space on the 49th floor features 13-foot-high ceilings, while the 50th floor was initially designed to be a club. Asking rent was $50 per square foot. Architect Ted Moudis was tapped to handle designs for Revlon’s new space. Revlon currently pays about $70 per square foot at 237 Park Avenue, where its 10-year lease expires in the fall. [more]

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  • From left: Sacha Zarba, the Empire State Building and LinkedIn co-founder Reid Hoffman

    From left: Sacha Zarba, the Empire State Building and LinkedIn co-founder Reid Hoffman

    Social networking website LinkedIn is once again spreading its tentacles at the Empire State Building. LinkedIn will take a further 44,000 square feet at the tower, The Real Deal has learned, bringing its total presence there to about 160,000 square feet. [more]

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  • hudson-yards-cbre

    Hudson Yards and Robert Alexander

    Commercial space at the Related Companies’ Hudson Yards megadevelopment is getting scooped up at a swift clip.

    Technology firm SAP, leather retailer Coach and cosmetics brand L’Oréal are among the tenants to lease space at the 1.7 million-square-foot south tower. Roughly 300,000 square feet remains there. Meanwhile, 900,000 square feet is available at the 2.6 million-square-foot north tower, which is slated to house Time Warner Inc. after a deal is finalized. [more]

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  • starrett

    601 West 26th Street and Martha Stewart

    Martha Stewart Living, the troubled media company founded by the namesake culinary and crafts guru, handed off 45,000 square feet of its space at RXR Realty’s Starrett-Lehigh Building at 601 West 26th Street. [more]

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  • 30 Rockefeller Plaza

    30 Rockefeller Plaza

    Dallas-based corporate law firm Haynes and Boone are now the single largest tenant at Tishman Speyer’s 30 Rockefeller Plaza after signing a lease for an additional 38,193 square feet of office space in the building.

    With the additional room, Haynes and Boone takes up 112,793 square feet of the Midtown building on floors 24 through 26. Tishman Speyer was represented in-house in the deal, while Ken Rapp, David Kleinhandler and Andrew Sussman of CBRE represented the firm. [more]

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  • From left: Peter Turchin and 250 West 55th

    From left: Peter Turchin and 250 West 55th

    Boutique financial service provider Modern Bank has inked a deal for nearly 15,000 square feet at Boston Properties’ 250 West 55th Street.

    The bank is relocating from 667 Madison Avenue and will take 13,200 square feet on the 15th floor of 250 West 55th Street, at Eighth Avenue. Craig Reicher and Christie Harle of CBRE represented the bank, which specializes in leveraged finance, in the deal. [more]

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  • From left: Robert Reffkin, Ori Allon and 19 Union Square West

    From left: Robert Reffkin, Ori Allon and 19 Union Square West

    Tech-centric residential brokerage Urban Compass has outgrown its current space at 155 Avenue of the Americas and is adding 9,000-square-foot digs at 19 Union Square West, The Real Deal has learned. Urban Compass will pay rents starting in the mid-$60s per square foot through May 2018 for the 10th-floor space at 19 Union Square W., according to CompStak data. It is subletting the space from Internet radio provider Pandora Media, which inked a 52,450-square-foot lease at SL Green Realty’s 125 Park Avenue in June, as TRD reported. [more]

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  • From left: Donald Lucas, Michael Mecanti and 30 Broad Street

    From left: Donald Lucas, Michael Mecanti and 30 Broad Street

    One of the country’s top patent law firms is ditching its Midtown South office digs for a 14,880-square-foot space in the New York Stock Exchange building.

    Lucas & Mercanti inked a lease for the 21st floor of 30 Broad Street for 10 years. [more]

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