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New York City
Commercial Real Estate News
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Apartment Rent Concessions are 'Back With a Vengeance'
It’s the age-old developer’s trade-off. In a market saturated with new apartments, building owners have a decision to make. You can either tolerate higher vacancy rates and hope they don’t last too long. Or, you can offer a month or two of free rent...

Convene Builds on Brookfield Partnership with 93,000 SF at One Liberty Plaza
Real estate developer and owner Brookfield Properties continues to leverage its partnership with meeting, concierge and conference space provider Convene. Convene’s newest location in New York City will be a 93,096-square-foot space spanning four floors...

Away Takes Flight to 82 Mercer Street
Luggage designer Away, known for its signature striped patterning and direct-to-consumer advertising model, is relocating its headquarters to a larger space in SoHo. The travel company has signed a lease for 56,000 square feet of office space at 82...

ICSC Elects First Retailer, Fifth Female to Chairperson Position in Six-Decade History
Valerie Richardson takes the ICSC stage as the group's new chairperson, and its first from a retail shop, in its 59-year history.Credit: Jacquelyn Ryan for CoStar Group Inc. The International Council of Shopping Centers has elected its first chairperson...

Whole Foods has a Whole Lot to do with Manhattan Rent Appreciation
The average monthly apartment rent in Manhattan is $3,840 per unit, or $5.07 per square foot, according to CoStar and records. But when you look at the 9,500 market-rate units that are located within one-tenth of a mile of a Whole Foods...

Starrett City Sale Closes for $870M
Rockpoint and Brooksville Company are the new owners of Silver Creek Towers (Starrett City), less than a year after entering into a contract to buy the 153-acre affordable housing complex in Brooklyn from Starrett City Associates. According to public...

Syska Hennessy Engineers a Relocation to 1185 Sixth Avenue
SL Green’s 1.1 million-square-foot office tower at 1185 Avenue of the Americas in New York Syska Hennessy Group, a global full-service engineering firm specializing in sustainable construction, has inked a long-term lease for 55,016 square feet of...

What Northstar/RXR's Forming of a 'Special Committee to Explore Strategic Alternatives' Could Portend
Northstar/RXR holds a minority interest in the UBS Tower at 1285 Avenue of the Americas with affiliates of RXR and David Werner Real Estate following its May 2016 acquisition of the Manhattan skyscraper for $1.65 billion. Northstar/RXR, a public, non...

DivcoWest Lines Up CalSTRS Pension Fund to Back $300 Million Core Investment Venture
Lakewood Center I, a current DivcoWest holding in Austin DivcoWest Real Estate Services, the San Francisco-based real estate investment firm headed by Stuart Shiff, has once again teamed up with the California State Teachers’ Retirement System (CalSTRS)...

Blank Rome the Next Big Law Firm Headed to 1271 Sixth
At 1271 Sixth Ave., Rockefeller Group looks to be striking gold with corporate law firms, as a second major attorney group has signed a big-block lease to relocate its New York headquarters. American law firm Blank Rome has agreed to take nearly...

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