The Real Deal New York

Posts Tagged ‘Commercial Real Estate’

  • 154 East 23rd Street

    154 East 23rd Street

    WEEKENDEDITION With technology firms eating up space in older loft-like buildings at a rapid rate, rents in formerly affordable office spaces have been going up, making it difficult for nonprofits and arts organizations to find affordable deals.

    In the first quarter of 2014, Manhattan commercial rents rose 7 percent from the corresponding period five years ago, according to Cushman & Wakefield. Meanwhile, rents in Midtown South rose up 29 percent within the same period. [more]

  • From the March issue: New York City real estate historically upheld a sacrosanct division — call it “church and state” — that separated residential and commercial brokerage. But these days, that divide is quickly eroding as brokers increasingly do business in both worlds. [more]

  • From left: 140 Broadway and John Wheeler

    From left: 140 Broadway and John Wheeler

    A New York office of Jones Lang LaSalle is planning to grow its broker roster by nearly 50 percent.

    In the next 18 months, the commercial brokerage will add five people to the current 11-broker team at its lower Manhattan office at 140 Broadway. The move comes as the firm pushes to increase its market share in Lower Manhattan. [more]

  • From left:

    From left: Adam Spies, Doug Harmon, William Shanahan and Darcy Stacom

    From the March issue: In the last year, the number of New York City buildings sold with the help of a broker shot up significantly, according to an exclusive analysis conducted by The Real Deal[more]

  • From left: 767 Fifth Avenue, 10 Columbus Circle and 1211 Sixth Avenue

    From left: 767 Fifth Avenue, 10 Columbus Circle and 1211 Sixth Avenue

    International buyers snapped up $5.5 billion worth of Manhattan office towers last year, led by deep-pocketed shoppers from China, Canada and the United Arab Emirates. [more]

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  • Food hall takes 10,000 sf at 230 Park

    February 22, 2014 12:00PM
    230 Park Avenue

    230 Park Avenue

    WEEKENDEDITION The food hall manager behind Mad. Sq. Eats, Broadway Bites and Dekalb Market has inked a long-term lease for 10,000 square feet of retail space at 230 Park Avenue. [more]

  • 66 East 55th Street and Jennie Enterprise

    66 East 55th Street and Jennie Enterprise

    WEEKENDEDITION “This was a piece of dirt,” Jennie Enterprise said over lunch in her flawless dining room at Manhattan’s CORE: club. “I found out who owned the dirt.” [more]

  • Lower Manhattan after Hurricane Sandy

    Lower Manhattan after Hurricane Sandy

    Top commercial real estate executives are substantially more optimistic about the value of property in Lower Manhattan this year, according to a recent survey. [more]

  • Bill de Blasio

    Bill de Blasio

    The city’s commercial real estate players are feeling jittery about the new administration, with most saying that Mayor-elect Bill de Blasio will be bad for business, according to a new survey by accounting firm Marks Paneth & Shron.

    Only seven percent of New York City commercial real estate executives said they were “very confident” in de Blasio’s support of the commercial real estate industry, according to the survey, released Tuesday. Only 28 percent responded that they were “somewhat confident” in de Blasio, while 21 percent said they were “not at all confident” and 35 percent said they are “not too confident.” [more]

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  • From left:

    From left: James Wacht and Peter Braus of Lee & Associates, Richard Selig and Peter Sabesan of CBC Alliance, and Patrick Robinson of Transwesterm

    From the December issue: Building a commercial brokerage business in New York City is a slow, patient game. Success, real estate executives say, is measured in years, not months. [more]

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  • Night.TRU

    Toy ‘R’ Us’ Times Square flagship

    Toys ‘R’ Us won’t be getting back $10 million it allegedly overpaid in rent and taxes at its Times Square flagship store. A New York State appeals court ruled for the landlord, an entity affiliated with Bow Tie Partners, a real estate development firm, pointing out that Toys ‘R’ Us had paid the alleged overcharges for 12 years without complaint. [more]

  • Best Commercial Firms

    From the August issue: Commercial brokers have long days, filled with structuring deals, sourcing financing and pulling market data. And all those hours mean it’s important for brokers to find a firm that’s a good fit, a corporate culture that makes that time spent in the office at least tolerable — maybe even somewhat enjoyable. [more]

  • 4941 Broadway

    4941 Broadway in Inwood

    A commercial building in Inwood that was gutted by a fire last year will be rebuilt, according to DNAinfo. [more]

  • 10-West-33rd-Street

    10 West 33rd Street

    Horizon Imports has renewed its headquarters at 10 West 33rd Street, also known as the Fashion Accessories Center, the New York Observer reported. Horizon has been located at the Garment District building since 1996. It will remain in a 6,021-square-foot space on the sixth floor.

    Landlord Ten West Thirty Third Associates and Horizon were both represented by Adams & Co. principal David Levy. [more]

  • 550 Madison Avenue

    550 Madison Avenue (credit PropertyShark)

    A crush of large class A buildings for sale in Manhattan could be a sign of a real estate bubble in the making, commercial brokerage Avison Young states in its first-quarter investment sales report, obtained by The Real Deal.

    The total dollar volume of New York City commercial real estate sales increased to $8.6 billion from $5.8 billion year-over-year — a 46 percent increase and the best quarterly results since mid-2011, the report states. [more]

  • 29 Ryerson Street and 256-266 Flushing Avenue

    A Brooklyn company is in contract to purchase an eight-story warehouse building and adjacent one-story structure in Clinton Hill, a stone’s throw from the Brooklyn Navy Yard, for $26.25 million, and convert it to hotel, retail and offices uses, sources familiar with the transaction said.

    The buyer, an entity called Ryerson Equity with an address in Borough Park, plans to acquire the 192,000-square-foot structure at 29 Ryerson Street, as well as the lot next door at 256-266 Flushing Avenue, which includes an 8,070-square-foot building, the sources said. The property belongs to Robert Lewis, who owns the document storage company Total Records Information Management. [more]

  • Office leasing market stagnates

    March 06, 2013 10:00AM

    From the March issue: Despite the large lease extension signed by Macy’s in Midtown’s Penn Plaza district, prices and availability in the Manhattan office market remained stagnant last month. And insiders predict that conditions will remain flat for the next few months. “The general thinking in the brokerage community is that the first half of the year will be flat, with a pickup and growth in the latter half of the year on an accelerated basis into 2014,” said David Greenbaum, president of the New York City Office Division of Vornado Realty Trust, during the firm’s fourth-quarter earnings call last month. [more]

  • From the March issue: This is the second installment of reporter Adam Pincus’ five-part online and print series examining the top moneymakers of commercial brokerage in 2012.

    In the cutthroat world of Manhattan office leasing, brokerages are regularly trying to best one another by finding new landlords and tenants to represent. But which firm actually does the most deals? [more]

  • Click to enlarge

    From the March issue: This is the first installment of reporter Adam Pincus’ five-part online and print series examining the top moneymakers of commercial brokerage in 2012.

    Commercial property sales in New York City surged in 2012, boosting transaction volume and revenue for most, but not all, of the city’s investment brokerage firms. Buyers spent $39.1 billion purchasing commercial real estate in New York City last year, according to figures from Massey Knakal Realty Services. [more]

  • The Real Deal’s monthly Deal Sheet

    February 04, 2013 04:00PM

    From the February issue: