Scorecard: Cushman & Wakefield leads landlord repping pack, but only just by a hair

A monthly roundup of news and reports on the residential and commercial markets

TRD NEW YORK /
Dec.December 21, 2015 04:50 PM


The global brokerage Cushman & Wakefield represented more office space for Manhattan landlords over the past 12 months than any other firm in the city, a TRD analysis of CoStar Group data found. However, Cushman, which represented 4.6 million square feet on the landlord side, didn’t blow away any of its rivals. In fact, it was in the same ballpark as other mega-firms CBRE, Newmark Grubb Knight Frank and JLL, who all represented between 4.2 million and 4.5 million square feet.

In recent years, CBRE has dominated on the landlord agency front, but Cushman’s recent mergers with the firms Cassidy Turley and DTZ gave it additional business. CBRE disputed TRD‘s figures, saying it had leased more than 5.3 million square feet during the period in deals of 10,000 square feet and above. It said other firms did far less.

Meanwhile, for overall Manhattan leasing, total volume ticked up in October in Midtown and fell in Midtown South and Downtown.

On the retail front, Midtown saw the most leasing last month, led by giant deals such as Victoria’s Secret 63,780 square foot deal at Vornado’s 640 Fifth Avenue.

 

Despite record deals such as Jeff Sutton and GGP’s lease with Bulgari at 730 Fifth Avenue, which came in at $5,500 per square foot, other spaces have lingered on the market. In addition, the spreads are growing between affordable and high-end rents. Indeed, prices have surged in high-traffic areas, but other areas have not seen the same jumps.

 

Related Articles

arrow_forward_ios
Judge Janet DiFiore and Judge Rowan Wilson (Credit: iStock, New York State Courts)

High court decision has tenants stewing, landlords oohing

Sharif El-Gamal (Photo by Desiree Navarro/WireImage)

WATCH: Developer Sharif El-Gamal has Covid-19. But he’s one of the lucky ones

Knotel CEO Amol Sarva 

Another huge round of layoffs for Knotel

Miki Naftali, Steven Witkoff and Ryan Freedman

TRD Talks: How developers are contending with coronavirus

Governor Andrew Cuomo (Photo by Spencer Platt/Getty Images; iStock)

Cuomo’s foreclosure, mortgage moratorium has no teeth

From left: Realogy's Ryan Schneider, Cushman & Wakefield's Brett White and Newmark Knight Frank's Barry Gosin (Credit: iStock)

Brokerage stocks plunge amid market turmoil

Mayor Bill de Blasio halted ULURP, stalling projects like 960 Franklin Avenue, Rikers Island and Industry City 

These projects could be held up by New York’s rezoning freeze

Eric Garcetti orders a moratorium on LA commercial evictions (Photo credit: iStock photo)

LA mayor orders a moratorium on commercial evictions

arrow_forward_ios
Loading...