The Real Deal New York

Posts Tagged ‘midtown office market’

  • Suresh Sani and 12 East 44th Street

    Suresh Sani and 12 East 44th Street

    First Pioneer Properties bought a seven-story office building not far from the planned One Vanderbilt tower late last month for $26.5 million, property records show.

    The company, a Queens-based landlord headed by Suresh Sani, purchased the 23,800-rentable-square-foot building at 12 East 44th Street from the Tristar Group, according to records filed Monday with the city. Tristar had paid $3 million back in 1995 for the building and its neighbor. [more]

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  • Bryant Park

    Office buildings surrounding Bryant Park

    The financial services sector added more jobs in February and added more jobs in 2014 than previously expected.

    The sector, which is among the city’s biggest users of office space, added 3,600 jobs between January and February of 2015, according to data from the New York State Department of Labor cited by the Wall Street Journal. [more]

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  • persichetti-november

    From left: Richard Perischetti, 7 West 34th Street and One Vanderbilt in Midtown

    Office vacancies in Midtown South in November reached their lowest level in seven years, according to a new report from commercial brokerage Cassidy Turley. [more]

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  • Midtown Manhattan

    Midtown Manhattan

    From the November issue: The top end of the market is leaving more modest buildings in the dust, and nowhere is that more evident than in Midtown, a new analysis by Newmark Grubb Knight Frank reveals. [more]

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  • From left: Scott Rechler and 75 Rockefeller Plaza

    From left: Scott Rechler and 75 Rockefeller Plaza

    Scott Rechler of RXR Realty has roughly a century to prove naysayers wrong. [more]

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  • From left: Chanin Building and James Frederick

    From left: Chanin Building and James Frederick

    Updated, 5:45 p.m., June 24, The Stahl Organization has brought more than 46,000 square feet of office space to market at the iconic Art Deco Chanin Building at 122 East 42nd Street between Lexington and Park avenues.

    The leases include a 30,603-square-foot second-floor space tied to 1,350 square feet with a dedicated entrance on the first floor. The asking price for the bundle is $46 per square foot and includes 500 feet of lineal exposure on 42nd Street and Lexington Avenue.  [more]

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  • From left: 102 West 38th Street and Brett Maslin

    From left: 102 West 38th Street and Brett Maslin

    Two technology companies and a general contractor have signed on for just under 15,000 square feet at 38 & 6 Associates’ 102 West 38th Street.

    Solar panel-maker Solaire Generation inked a 10-year deal for 4,800 square feet on the seventh floor at a price of $41 per square foot. Downstairs on the sixth floor, cloud computing company Nimbo Technologies took 4,658 square feet for an undisclosed amount. [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: 225 Park Avenue South, 4 World Trade Center and Douglas Durst

    From left: 225 Park Avenue South, 4 World Trade Center and Douglas Durst

    From the June issue: An array of Midtown’s large office buildings are working to backfill mega-blocks of space slated to be left vacant when tenants with hundreds of thousands of square feet move out. And they’re doing so on the precipice of a supply boom the Manhattan market has not seen in a quarter of a century. [more]

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  • 45 East 53rd Street

    A Midtown office building owned by the Spanish banking giant Santander has traded hands for $120 million, according to public records filed with the city today.

    Santander began shopping the 113,000-square-foot building, at 45 East 53rd Street, to potential buyers in March, it was previously reported. Despite its institutional status, it was said to be marketing the building in house as opposed to bringing on a brokerage firm. [more]

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  • Robert Sammons

    Sublet availability in October rose to 9.8 million square feet, Robert Sammons, vice president of research at Cassidy Turley, wrote in the New York Observer. And even though a number of Downtown firms were forced to relocate to Midtown sublet space as a result of Hurricane Sandy, “it likely will not make much of a dent in the figure,” Sammons said.

    The reason for this, he said, is that tenants with multiple office locations are devising ways to share desks at other offices. Also, firms are letting some employees work from home. [more]

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