The Real Deal New York

Posts Tagged ‘Cushman & Wakefield’

  • 635

    635 Sixth Avenue and Stephen Durels

    SL Green’s 635-641 Sixth Avenue is now fully leased after a software firm signed for the duplex penthouse at the two-building complex.

    Infor, a privately held firm focused on enterprise software, upped its space at the building by 21,800 square feet and now occupies 115,000 square feet. SL Green paid $173 million, or $648 per square foot, for the properties in 2012 and is in the process of combining them. [more]

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  • sl-green

    Howard Tenenbaum and 110 East 42nd Street

    The Princeton Review and three other tenants grabbed a total of more than 48,000 square feet at SL Green’s 18-story office building at 110 East 42nd Street in a recent batch of lease deals.

    Massachusetts-based test-prep company the Princeton Review signed for nearly 21,000 square feet on the seventh floor. British environmental consulting firm SLR Acquisition expanded its eighth-floor space to 17,900 square feet from 11,300. Philadelphia-based law firm Morgan Lewis & Brockius LLP took a five-year renewal of 14,370 square feet on the ninth floor. And the Metro North Commuter Railroad Company signed a new lease for 1,840 square feet in the building near Grand Central Terminal. [more]

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  • From left: 180 Broadway, 2 Herald Square and 985-987 Third Avenue

    From left: 180 Broadway, 2 Herald Square and 985-987 Third Avenue

    SL Green Realty announced the sales of three Manhattan properties in separate transactions that will generate $240 million in net cash proceeds for the real estate investment trust. [more]

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  • Scott Panzer

    JLL’s Scott Panzer

    Scott Panzer, a JLL broker who consistently does some of the city’s biggest leasing deals, has re-signed with his current firm after considering offers from competitors including Cushman & Wakefield, sources told The Real Deal. The agreement came as Panzer’s previous contract with JLL was expiring.

    Panzer, a vice chairman with JLL and a 27-year industry veteran, has represented some of the city’s top landlords — including the famously cantankerous Sheldon Solow — as well as giant tenants such as the advertising firm Interpublic Group and media behemoth NBCUniversal. [more]

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  • gluck

    From left: One Soho Square renderings (Neoscape, Inc.), Laurence Gluck and Josh Kuriloff

    Cosmetics brand Aveda, an affiliate of Estée Lauder, inked a lease to expand at 233 Spring Street, an office building that’s part of Stellar Management’s One Soho Square project. [more]

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  • Mosler-Chart-2

    Manhattan office inventory chart (Source: Cushman & Wakefield) and Bruce Mosler

    The total square footage of the Manhattan office market, which has been stable at just over 390 million since 1990, will see a net increase of 20 million square feet by 2020, reaching a new record high of 414 million square feet, according to figures released today at Cushman & Wakefield’s semi-annual market briefing. [more]

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  • Baxter-Farley-Shapiro-Knakal

    From left: Richard Baxter, James A. Farley post office (Credit: Google), Robert Shapiro and Robert Knakal

    New York State’s business promotion corporation, Empire State Development, picked the investment brokerage firm Massey Knakal Realty Services to sell the 1.5 million square feet of air rights above Moynihan Station in Midtown. [more]

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  • citigroup

    Rendering of Hong Kong site and Citigroup’s Stephen Bird

    Midtown East-based bank Citigroup set a record for the largest office-building acquisition in Hong Kong yesterday with the $697 million purchase of a 512,000-square-foot tower.

    The global bank plans to relocate 5,000 of its Hong Kong employees to the building, which was previously owned by an affiliate of financial real estate firm Wheelock and Company. [more]

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  • SL Green's leasing director Steve Durels and 16 East 34th Street (Credit: CoStar Group)

    SL Green’s leasing director Steve Durels and 16 East 34th Street (Credit: CoStar Group)

    Cushman & Wakefield is taking over leasing efforts from SL Green Realty at 16 East 34th Street, The Real Deal has learned. The 22-story, 336,500-square-foot office building is located between Madison and Fifth Avenues, and is home to Cornell University’s school of industrial relations.

    Cushman’s Joshua Goldman is transitioning into the new assignment on behalf of the landlord, Wohio Holding, according to multiple sources familiar with the deal. [more]

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  • studio-square

    35-37 36th Street in Astoria

    Emmes Asset Management paid $30 million for a six-story former warehouse in Astoria that houses the beer garden Studio Square, the Midtown-based firm told The Real Deal. [more]

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  • Cushman & Wakefield C&W TechBeat resource

    Cushman & Wakefield C&W TechBeat resource

    Cushman & Wakefield launched a new online tool today designed to help tech startups navigate the New York City office rental market. The website, C&W TechBeat, will offer data and statistics to help fledgling companies choose office space that aligns with budgets, broadband needs and growth trajectories. [more]

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  • trade-desk

    From left: William Macklowe, 386 Park Avenue South and the Trade Desk

    William Macklowe Company and Principal Real Estate Investors agreed to lease more than 13,000 square feet at 386 Park Avenue South to California-based advertising technology firm the Trade Desk. [more]

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  • upper-east-side-fitness-soulcycle

    SoulCycle in Upper East Side

    Demand for gym and workout studio space in Manhattan grew last year as the number of related leases more than doubled 22 to nine the previous year, according to Cushman & Wakefield data.

    Planet Fitness, Equinox Holdings and SoulCycle were among the companies to grab space last year throughout the borough. The city’s Board of Standards and Appeals has also been granting more permits to fitness businesses. Last year, a total of 37 were approved, including 21 in Manhattan. The year before that, the city approved 24 permits for the companies. [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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  • Michael Daly

    Michael Daly

    From the May issue: Michael Daly was named chief operating officer of Jonathan Rose Companies. He is responsible for managing the company’s operations, as well as for the expansion and diversification of it nationwide portfolio. Daly previously was president of Forest City Enterprises’ affiliate Mesa del Sol. Prior to that, he founded Sterling Glen Communities.

    Robert Gibson joined JLL as vice chairman of New York retail brokerage, where he will be responsible for the growth of retail tenant and agency leasing. [more]

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  • 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]

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  • John Elkann

    John Elkann

    John Elkann, the 38-year-old Agnelli family heir and Exor CEO, joined commercial brokerage Cushman & Wakefield as chairman of the firm’s Board of Directors Tuesday.

    Elkann follows Carlo Sant’Albano in the role. Sant’Albano also served as interim CEO after Glenn Rufrano’s departure last year, until Edward Forst was hired as president and CEO in December. He will now assume the operational role of International CEO at C&W, a newly-created position. Prior to joining C&W, Sant’Albano was CEO of Exor, which has been C&W’s controlling shareholder since 2007. [more]

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  • From left: Chief executive of Cushman Edward Forst, chief executive of Citigroup Michael Corbat and 388 Greenwich Street

    From left: Chief executive of Cushman Edward Forst, chief executive of Citigroup Michael Corbat and 388 Greenwich Street

    In a quiet deal, global bank Citigroup has tapped Manhattan-based Cushman & Wakefield to manage all 27 million square feet of the company’s commercial property in the U.S., including its Tribeca headquarters. [more]

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  • Robert Gibson exits Cushman for JLL

    April 01, 2014 09:40AM
    h-and-m

    H&M at 589 Fifth Avenue (Inset: Robert Gibson)

    Robert Gibson, vice chair at Cushman & Wakefield, is joining JLL to head up the Manhattan retail division. [more]

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  • From left: Neil Nguyen, chief executive of Sizmek and 401 Park Avenue South

    From left: Neil Nguyen, chief executive of Sizmek and 401 Park Avenue South

    Multinational digital ad agency Sizmek, a subsidiary of Digital Generation, inked a 21,100-square-foot lease for the entire fifth floor of Himmel + Meringoff Properties’ 401 Park Avenue South, on the corner of East 28th Street in Midtown South.

    The lease reportedly marks the end of a marketing push to fill 150,000 square feet in the roughly 200,000-square-foot building. [more]

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