From left: Larry Silverstein, 1 WTC and the Empire State Building

New York City’s commercial real estate industry is edgy over the possibility of the government yanking what has come to be known as terrorism insurance, the New York Post reported.

The program, called the Terrorism Risk Insurance Act, comes up for renewal next year; if Congress does not extend it, the cost of doing business will increase for owners of iconic properties — their insurance premiums will rise and their buildings will drop in value. [more]

685 Third Avenue

Crain Communications will make a move to 685 Third Avenue at East 44th Street, according to Crain’s, which is one of its several publications.

The publisher – which also puts out Advertising Age and Autoweek – will take 57,000 square feet on the ninth and 10th floors of the 31-story building, where asking rents begin in the $50s per square foot. The company will shift from its current headquarters next door at SL Green-owned 711 Third Avenue.  [more]

From left: Gary Green, interior images of his home and Ryan Serhant

The Upper West Side condominium unit belonging to the son of Stephen Green, chairman of the board at SL Green Realty, has gone into contract, The Real Deal has learned. [more]

Ben Shaoul, Google aerial view of the portfolio and Marc Holliday

Manhattan’s largest office landlord, SL Green Realty, partnered with residential manager and developer Magnum Real Estate Group to buy newly constructed apartment units in Williamsburg for $51.5 million. [more]

From left: Marc Holliday, Steve Klesaris and Blue Devil filly Shot Gun Pennie

SL Green Realty CEO Marc Holliday was unable to replicate his spectacular success in the Manhattan office market at the Kentucky Derby, with his horse Love Train failing to secure a spot on the winner’s podium, the filly’s trainer, Steve Klesaris, told The Real Deal.  [more]

333 West 34th Street and Marc Holliday of SL Green

Commercial landlord SL Green has listed 333 West 34th Street, a fully-leased, 350,000-square-foot office building that sources say could sell for $225 million, according to Crain’s.

A team from Jones Lang LaSalle headed by Richard Baxter and Scott Latham is handling the sale for the landlord. The 10-story building is located between Eighth and Ninth avenues. [more]

Marc Holliday

SL Green Realty CEO Marc Holliday credited New York City’s robust economic climate as a big reason for the real estate investment trust’s strong first quarter, in which it signed leases totaling nearly 600,000 square feet of space and announced nearly 1 million square feet of deals in the pipeline, during the company’s first quarter earnings call today. [more]

Vornado’s Steven Roth, 280 Park and Sl Green’s Marc Holliday

Two 280 Park Avenue tenants — which were formerly in smaller, temporary spaces inside the 1.2 million-square-foot building — have inked deals that more than double their footprints, GlobeSt. reported. Asset management firm Blue Mountain Capital and consulting firm Promontory Financial Group now each have a 49,541-square-foot floor. [more]

The CEOs of the major New York REITs- Clockwise from top: Marc Holliday, Michael Fascitelli, Owen Thomas, David Neithercut, Dennis Friedrich, Timothy Naughton

The large New York-focused real estate investment trusts struggled in the first quarter of 2013, unlike their national counterparts, with only SL Green Realty outperforming both the MSCI US REIT Index and the Standard & Poor 500 Stock Index.  [more]

From left: Howard Michaels and the Lipstick Building

SL Green Realty is selling the land beneath the Lipstick Building in Midtown, the New York Post reported. The commercial landlord has tapped the Carlton Group’s Howard Michaels to handle the marketing.

The land could attract a record-breaking price, as investors are now seeking stable investments in New York City, the Post said. [more]