The Real Deal New York

Posts Tagged ‘CompStak’

  • A 3D rendering of office space Credit: Floored)

    A 3D rendering of office space (Credit: Floored)

    Compared to other major New York City industries, real estate is notoriously slow to innovate. A conservative business dominated for decades by the same handful of families, real estate hasn’t developed the equivalent of high-frequency trading, which rocked the securities industry, or BuzzFeed, the news-and-entertainment website that’s shaking up media advertising.

    There are, however, some new kids on the block who are successfully challenging the way the real estate business is done. Read the full story from the October 2013 issue after the jump.

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  • Manhattan office effective rents

    Average effective rents by Manhattan office market (credit: CompStak)

    The Midtown office market performed strongly in the first quarter of 2015, with effective rents for Class A space increasing 5.1 percent from the previous quarter while Midtown South effective rents dropped after three consecutive quarters of growth. [more]

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  • 511 Barry Street in Hunts Point (credit: CoStar), Timothy Sheehan (inset) and Barry Cohorsky (inset)

    From left: 511 Barry Street in Hunts Point (credit: CoStar) (inset: Timothy Sheehan and Barry Cohorsky)

    UPDATED, 10:06 a.m., May 1: Food delivery service Plated has taken 84,000-square-feet of industrial space in the Hunts Point neighborhood in the Bronx. [more]

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  • effective-rent

    Effective rents in the Manhattan office market (Credit: CompStak)

    It may not be out with the old, but it’s certainly in with the new. Throughout Manhattan, new leases comprised a larger chunk of all office deals in 2014, rising to 63 percent from 55 percent year-over-year based on square footage leased. That’s according to CompStak’s latest rent report, provided exclusively to The Real Deal. [more]

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  • From left: CompStak's Michael Mandel, David Peterson and Vadim Belobrovka (Credit: Trevett McCandliss & Nancy Campbell)

    From left: CompStak’s Michael Mandel, David Peterson and Vadim Belobrovka (Credit: Trevett McCandliss & Nancy Campbell)

    CompStak, a real estate data firm that tapped into crowdsourcing to start a marketplace of lease “comps,” has raised $4.4 million in its latest funding round, the firm’s CEO Michael Mandel told The Real Deal. Venture capital firm Canaan Partners was the lead investor in the round, which takes CompStak’s total venture funding past the $10 million mark. [more]

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  • Effective rents in the Manhattan office market, Q3 2014 (Credit: CompStak)

    Effective rents in the Manhattan office market, Q3 2014 (Credit: CompStak)

    UPDATED, 5:52 p.m., October 29: Midtown South continues to hold the torch for the Manhattan office market – the tech-tenant magnet was responsible for 26 percent of the top 50 deals by square footage signed in the third quarter, and has seen six triple-digit deals so far this year, according to CompStak’s effective rent report provided exclusively to The Real Deal. [more]

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  • Clockwise from top left: Jared Kushner, Josh Kushner, Benjamin Ling, Alex Krug, David Frankel and Dave McClure

    Clockwise from top left: Jared Kushner, Josh Kushner, Benjamin Ling, Alex Krug, David Frankel and Dave McClure

    It’s no surprise that Uber, Instagram and Buzzfeed are attracting big-name technology investors. The three upstart businesses are rattling the cages of established industries and possess an undeniable ‘cool’ factor. But what may surprise some is that many of the early backers of these companies are also betting big on startups in the New York real estate scene. [more]

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  • From left: RE: Tech's Ashkan Zandieh, View the Space's Nick Romito and Thrive Capital's Joshua Kushner

    From left: RE: Tech’s Ashkan Zandieh, View the Space’s Nick Romito and Thrive’s Joshua Kushner

    Commercial real estate technology startups aren’t just shaking up how the industry works – they’re also raking in plenty of cash from investors. And New York-based firms are starting to receive more of that money, seizing the momentum from rivals in the traditional tech haven of Silicon Valley. [more]

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  • From left: CoStar CEO Andrew Florance and CompStak CEO Michael Mandel

    From left: CoStar CEO Andrew Florance and CompStak CEO Michael Mandel

    CoStar Group has dropped its anti-piracy lawsuit against a number of anonymous CompStak users.

    The suit alleged the CompStak users posted CoStar’s proprietary commercial real estate data to the rival website in violation of CoStar’s terms of service. The judge’s denial of CompStak’s motion to block a request to reveal the identities of four users named in the suit amounted to a victory, CoStar told the Washington Business Journal

    “We basically got what we wanted,” CoStar spokesman Mark Klionsky told the publication. “We reached out to the John Does, we had what I would consider successful discussions with them, and they’ve agreed not to put our intellectual property into third-party systems.” [more]

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  • From left: CoStar CEO Andrew Florance (Credit: CoStar) and CompStak CEO Michael Mandel

    From left: CoStar CEO Andrew Florance (Credit: CoStar) and CompStak CEO Michael Mandel

    In the commercial real estate information war, industry giant CoStar Group today struck a blow against relative newcomer CompStak, which will now have to disclose the identities of four of its users who allegedly misused CoStar data. [more]

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  • From left: Michael Mandel and Andrew Phillips

    From left: Michael Mandel and Andrew Phillips

    Commercial real estate information firm CompStak has hired Andrew Phillips from Newmark Grubb Knight Frank to be their new director of enterprise sales, the company announced in a release today.

    “Andrew’s deep experience in the financial sector will allow us to broaden our reach to an entirely new customer base,” CompStak CEO Michael Mandel said in the release. While at NGKF, Phillips started the firm’s loan sales business and handled over $1 billion in distressed asset sales. [more]

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  • Michael Kors and 335 Madison Avenue

    Michael Kors and 335 Madison Avenue

    Designer brand Michael Kors has inked a 40,553-square-foot short-term lease at Milstein Properties’ 335 Madison Avenue, The Real Deal has learned. [more]

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  • 55 Water Street

    55 Water Street

    Though the Manhattan office leasing market continued to get stronger in the third quarter, the number of big-ticket deals fell considerably – indeed, only two deals were valued north of $100 million, compared to seven in the previous quarter, according to The Real Deal’s quarterly ranking of Manhattan’s most valuable office leases. Read the full story and see the slideshow after the jump.

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  • From left: Richard Ruben, 600 Madison Avenue and Mitchell Konsker

    From left: Richard Ruben, 600 Madison Avenue and Mitchell Konsker

    After closing a $210 million deal for the ground fee at 600 Madison Avenue earlier this month, the Ruben Companies has signed a subsidiary of homebuilder Lennar Corporation to 17,852 square feet at  the Plaza District building, The Real Deal has learned from CompStak. Rialto Capital Management, which is Lennar’s real estate investment arm focused on distressed and value-add properties, took the entire 12th floor of the 26-story, 327,960-square-foot tower located at the southwest corner of East 58th Street, according to CompStak data. [more]

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  • From left: 425 Lexington Avenue, Stephen Ross and a rendering of Hudson Yards

    From left: 425 Lexington Avenue, Stephen Ross and a rendering of Hudson Yards

    Updated, 10:55 a.m., Aug. 11: A new acronym recently entered the lexicon of Manhattan office players, and judging by the numbers, it’s here to stay. TAMI (technology, advertising, media, and information) tenants accounted for over a quarter of the top ten leasing deals in the second quarter of 2013, continuing the trend seen last quarter, according to The Real Deal’s quarterly ranking of Manhattan’s most valuable office leases. [more]

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  • Regus CEO Mark Dixon and 104 West 40th Street

    Regus CEO Mark Dixon and 104 West 40th Street (center)

    Luxembourg-based office space provider Regus continued its breakneck expansion in Manhattan, with a new location at David Tawfik’s 104 West 40th Street in Midtown, The Real Deal has learned from CompStak. [more]

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  • Blackstone's Stephen Schwarzman and 229 West 43rd Street

    Blackstone’s Stephen Schwarzman and 229 West 43rd Street

    Blackstone Group’s strategy of luring tech and new media-oriented tenants to the former New York Times building at 229 West 43rd Street continues to pay off. After a marquee May deal with Yahoo to anchor the building, Blackstone has now signed AlphaSights – which describes itself as a “knowledge brokerage” for institutional investors – to a 21,949-square-foot deal, according to data from CompStak. [more]

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  • Offices along Sixth Avenue

    Offices along Sixth Avenue

    Rents on Manhattan’s once-invincible Sixth Avenue have flatlined and vacancies are on the rise, as technology firms are showing a preference for trendier neighborhoods and large blocks of sublease space have hit the market, the Wall Street Journal reported.

    More than 780,000 square feet of office space is available for sublease along Sixth Avenue, according to CoStar data cited by the Journal. This allows tenants to find bargains, but is a worry for landlords who may have made recent big investments in the area. [more]

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  • From left: Indeed’s Rony Kahan, 125 West 55th Street and Josh Kuriloff

    From left: Indeed’s Rony Kahan, 125 West 55th Street and Josh Kuriloff

    Job listings company Indeed has taken just under 50,000 square feet of space at Midtown’s Avenue of the Americas Plaza, according to data from commercial real estate information company CompStak. [more]

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  • From left: Wayne Yu, Noam Shahar, Jeff Domke, Michael Mandel, Vadim Belobrovka and Danny Shachar. (Photograph by Trevett McCandliss)

    New York-based CompStak has secured $4.45 million in financing that will allow the commercial real estate information startup to expand nationwide and offer new products, its co-founder told The Real Deal[more]

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