News
Manhattan Sees Strongest Quarter of Property Sales Since 2021: Report
14+ hour, 21+ min ago (348+ words) A burning desire for high-quality assets has helped Manhattan reach its strongest quarter of property sales deals since 2021, Commercial Observer has learned." "Manhattan really, really jumped off the charts," Brandon Polakoff, principal and head of New York investment sales at…...
ESRT to Sell 250 West 57th Street to Namdar Realty Group for $280 M
1+ week, 14+ hour ago (336+ words) Empire State Realty Trust has entered a contract to sell its 26-story office building at 250 West 57th Street to Namdar Realty Group for roughly $280 million, according to sources close to the deal. The 540, 000-square-foot building is along Billionaires" Row in Midtown…...
Retailer Urban Outfitters to Open 15 K-SF Store at 575 Fifth Avenue
1+ day, 22+ hour ago (490+ words) Clothing retailer Urban Outfitters is moving one of its stores a few blocks uptown to 575 Fifth Avenue, Commercial Observer has learned. The popular clothing store chain, owned by retail brand corporation Urbn, is currently located in 22, 238 square feet at 521 Fifth…...
Fintech Company Adyen Leases 90 K SF in Adjacent Fifth Avenue Buildings
1+ week, 19+ hour ago (273+ words) A pair of corporate tenants inked two separate lease deals for a total of 110, 000 square feet at the Winter Organization-owned conjoined buildings at 111 and 115 Fifth Avenue in Manhattan's Flatiron District, Commercial Observer has learned." The larger of the two deals…...
TQ Ventures Signs 7 K-SF Lease at 96 Spring Street for New HQ
1+ week, 1+ day ago (298+ words) TQ Ventures, an early-stage venture firm based in New York City and San Francisco, has signed a 10-year, 7, 415-square-foot lease for a new headquarters at 96 Spring Street in Manhattan's So Ho neighborhood, Commercial Observer has learned." The asking rent was…...
9 West 57th Street Gets $328 a Square Foot for Office Lease
1+ week, 6+ day ago (346+ words) Soloviev Group, a prominent New York City-based development firm led by Stefan Soloviev, has signed what it calls a "record-setting lease deal" at its flagship office tower in Midtown, the company announced Wednesday. What the owner described as a private…...
NYC's Real Estate Future Hinges on Development Incentives and Safety
3+ week, 4+ day ago (552+ words) Some of the biggest names in and around New York City real estate gathered over coffee and croissants at Commercial Observer's annual Future of New York event held March 19 at Marx Realty's 10 Grand Central to discuss the impact of the…...
TPG Angelo Gordon Sells Upper West Side's 2250 Broadway for $33 M
11+ mon, 1+ day ago (331+ words) TPG Angelo Gordon has offloaded the retail portion of an Upper West Side building for $32. 5 million, according to city records made public Tuesday. TPG, through the entity AG-Premier 2250 Broadway Owner, has sold the retail portion of 2250 Broadway to Westside 2250 Broadway,…...
Chelsea Lighting Expands HQ to 14 K SF at 14 Penn Plaza
4+ week, 14+ hour ago (411+ words) A residential lighting company is doubling the size of its headquarters at Circle Realty's 225 West 34th Street, Commercial Observer has learned. Chelsea Lighting signed a 10-year lease renewal in the 22-story Art Deco building, also known as 14 Penn Plaza, and is…...
Retail Leasing in Midtown South Growing Faster Than Rest of Manhattan
1+ mon, 1+ day ago (440+ words) Retailers in Midtown South were some of the hardest hit during the pandemic, with more than 450 storefronts closing, but now the area is bouncing back thanks to a retail leasing surge. That surge is due in part to the Midtown…...