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Preview: New York City Commercial Real Estate News From CoStar Group

New York City Commercial Real Estate News From CoStar Group

CoStar Group, Inc. is the leading provider of information services to commercial real estate property investors and sales professionals in the United States and United Kingdom. CoStar's suite of services offers access to the most comprehensive database of


Laidlaw & Company Takes Nearly 21,000 SF at 521 Fifth Ave

Tue, 12 Dec 2017 05:57:20 GMT

Laidlaw & Company, a London-based investment banking firm, will move its headquarters to 521 Fifth Ave. in New York City during the second quarter of 2018. The financial brokerage services company has signed a 10-year lease for 20,987 square feet on the 12th floor of the 39-story Midtown East office tower located at 43rd Street. The move is a mere two blocks south for Laidlaw & Company, which currently resides on the fifth floor of 546 Fifth Ave...

Monday Properties Moving HQ to Occupy 16,000 SF at Park Avenue Tower

Tue, 12 Dec 2017 05:07:47 GMT

Commercial real estate developer Monday Properties has signed a 15-year lease for 16,336 square feet of office space at Park Avenue Tower in New York City, announced landlord Equity Office Management LLC. Monday Properties will relocate its headquarters to the 27th floor of the building during the second quarter of 2018. Currently, Monday Properties is headquartered at 667 Madison Avenue, slightly northwest of what will be its new address. Built...

Beauty School Inks Long-Term Lease for HQ at Paramount Bldg

Tue, 12 Dec 2017 03:50:19 GMT

The Paramount Building is filling up. Christine Valmy International School for Esthetics is the latest tenant to sign a lease for space at the landmark Times Square submarket office asset, agreeing to a long-term lease for 24,000 square feet there. In addition to acting as its headquarters, the space will be used for classrooms and executive offices. Founded in 1965, the institution was the first esthetics school in New York City, according to...

CoStar's People of Note (Dec. 8) - HFF and Cresa Expand, Cushman Hires Mangum...

Fri, 08 Dec 2017 06:56:53 GMT

The following companies announced personnel moves this week: Cresa, HFF, Pine Tree, Cushman & Wakefield, JLL, Bridge Investment Group, Walker & Dunlop, Kentwood Real Estate, Grover Corlew, Zeppelin Development and Colliers International.img.pon{display: block; padding: 5px; width: 25%; max-width:180px; max-height: 220px; float: right;} img.pontwo{display: block; padding: 5px; width: 45%; max-width:360px; max-height: 220px; float: right;} img.ponthree...

Experts Discuss Retail’s Reinvention at ICSC's 2017 NY Deal Making Conference

Thu, 07 Dec 2017 09:31:12 GMT

About 10,000 attendees converged on ICSC’s 2017 New York Deal Making conference at the Jacob Javits Center from December 5-7, but there was plenty of room to breathe, and to close deals. New, larger space on the third floor for the event’s expansion, now 220,000 square feet of exhibition space, exuded a loftier feel. Sources interviewed at the conference said they were optimistic about retail’s reinvention in the year ahead, now that most "retail...

Grubhub Doubles Size at 5 Bryant Park

Wed, 06 Dec 2017 11:05:06 GMT

Grubhub, an online and mobile food-ordering company, expanded by 52,514 square feet in Equity Office’s 5 Bryant Park in New York City. The 34-story building totals 686,000 square feet in the Penn Plaza submarket. Built in 1958, Equity Office completed a capital improvement program in 2015. Renovations were made to the entrance, lobby and elevators of the property. Grubhub currently occupies the entire 15th floor of the building. The company...

Kamber Spends $50M on UWS Riverside Garage Portfolio

Tue, 05 Dec 2017 06:36:33 GMT

Photo Credit: Kamber Management CompanyIn a move to diversify its holdings, Kamber Management Company has scooped up 916 parking spaces on the Upper West Side. The New York City-based owner announced on November 30 that it has closed on the Riverside Garage portfolio of three parking garage condominiums for $50 million. The portfolio is sized at 248,000 square feet, according to Kamber. The garage condominiums are situated at 80 Riverside Blvd...

Pop-Up Stores Seize the Opportunity in New York City

Tue, 05 Dec 2017 05:21:51 GMT

It's hard to not see the signs. According to a leading retail real estate expert, New York City retail vacancy hovers at just over 20 percent. "There is a 22-percent vacancy factor across New York City retail at the moment, and within some submarkets, such as along Fifth Avenue between 14th and 23rd Streets, nearly every corner is available for lease or sublease," says Vicki Siokis Freeman, retail real estate advisor with the HSP real estate group...

Three Long-Term Tenants Taking Space at 123 William Street

Thu, 30 Nov 2017 08:43:47 GMT

Three tenants have signed lease deals totaling approximately 67,000 square feet of office space at 123 William St., a 552,305-square-foot downtown Manhattan office tower. The New York City Department of Citywide Administrative Services (DCAS) will lease two floors in the property for 20 years, agreeing to occupy 40,610 square feet. The New York City Department of Youth Andy Lei Community Development will occupy both floors, totaling 40,610 square...

MasterCard to Lease Entirety of 150 Fifth Avenue as it Expands Tech Operations in NYC

Thu, 30 Nov 2017 04:09:55 GMT

MasterCard has finalized an agreement for the financial services conglomerate to lease all 212,500 square feet of available space at 150 Fifth Ave. in New York City. MasterCard expects to move into the building in mid-2019, according to landlord L&L Holding in announcing the deal on November 30. With this lease agreement, MasterCard will more than double its current Manhattan office footprint. Currently the firm leases 80,000 square feet spanning...

This Summer, SKP Moving HQ to 1675 Broadway

Wed, 29 Nov 2017 09:39:24 GMT

Spielman Koenigsberg & Parker LLP (SKP), a global accounting services and financial consulting firm, has signed a 15-year lease to occupy 27,000 square feet at 1675 Broadway in New York City. The firm will take occupancy of its full-floor space in June 2018. Rudin Management Company Senior Vice President Robert Steinman tells CoStar News that the company is building out the 20th floor for SKP. Rudin Management is the leasing and management...

Mautner-Glick Purchases Four Contiguous Multifamily Buildings for $30M

Wed, 15 Nov 2017 09:38:26 GMT

Mautner-Glick Corp. acquired a portfolio of four Upper East Side multifamily properties at 212 - 218 E. 85th St. in New York City for $30 million. The sale totals 39,346 square feet. The four walk-up apartments delivered between 1910 and 1915 and consist of 76 units, including 70 residential, four office suites and two reatil storefronts. Paul Smadbeck, Thomas Gammino, Hunter Moss and Bryan Smadbeck with Cushman & Wakefield represented the...

Hamilton Heights Apartments Sell for $18.5M

Wed, 15 Nov 2017 09:25:36 GMT

TreeTop Development sold the 60-unit multifamily asset at 104-110 W. 144th St. in New York City for $18.75 million, or $312,500 per unit. Located in Harlem, the property is situated one block of the 2 subway line on Lenox Ave. and 145th Street. The five-story building, spanning 51,560 square feet, was built in 1920 and renovated in 1985. The building consists of 60 two-bedroom units. Victor Sozio, Shimon Shkury, Michael Tortorici and Matthew...

Fine Times Buys UWS Apartments for $28.9M

Wed, 15 Nov 2017 01:26:16 GMT

Fine Times, Inc. acquired the 36-unit apartment building at 110 W. 69th St. in New York City from private investors for $29.9 million, or approximately $803,000 per unit. The nine-story, 30,159 square foot, pre-war multifamily building is situated on Manhattan’s Upper West Side, located steps from Central Park, Lincoln Center for the Performing Arts, high-end retailers and subway lines. Paul Smadbeck, Hall Oster, Teddy Galligan, Conrad Martin...