Daily business news in the Great State of New York!
NEW YORK – The Real Estate Board of New York (REBNY) has released its latest Spring 2022 Manhattan Retail Report focused on market activity during the last six months. The report finds that leasing velocity improved in more retail corridors across Manhattan. Prime storefronts on high-traffic streets like Prince Street in SoHo and Upper Madison Avenue were […]
NEW YORK — SL Green Realty Corp. has entered into a contract to purchase 450 Park Avenue for $445.0 million from Oxford Properties. The transaction is expected to close in the second quarter. Located at the corner of 57th Street and Park Avenue, 450 Park Avenue is a 33-story Class A tower designed by Emery […]
NEW YORK — Hudson Square Properties, a joint venture of Trinity Church Wall Street, Norges Bank Investment Management, and Hines, has celebrated the topping out of 555 Greenwich, a 270,000-square-foot, 16-story office tower which will seamlessly combine with 345 Hudson to create 87,000-square-foot floor plates in a one-of-a-kind horizontal overbuild. The topping out marks a […]
For the first time in eight months there was an increase in number of homes newly listed for sale, according to the housing report released today by the New York State Association of REALTORS. Despite the bump in new listings, overall housing inventory remains extremely low. New home listings increased from 11,226 units in February […]
NEW YORK — Rabina, a real estate investment and development firm based in New York, has closed a half-billion-dollar construction financing package for 520 Fifth Avenue, the first post-pandemic – and tallest – building in Manhattan to weave together luxury residences, boutique commercial office space, world-class recreational facilities and ground floor retail all under one roof. […]
The Durst Organization announced that American Equity Investment Life has signed a 10-year lease for 17,246 square feet on the 35th floor of its office building at 1155 Avenue of the Americas. The life insurance company, which specializes in the sale of fixed index and fixed rate annuities, is headquartered in West Des Moines, IA, […]
NEW YORK — Real estate company CIM Group has signed two leases totaling 70,000 square feet of space at 1440 Broadway, a 25-story, 745,000-square-foot office building anchoring the corner of Broadway and 40th Street between Manhattan’s Bryant Park and Times Square. Land’n Sea, a designer, manufacturer, and distributor of wearing apparel, will occupy 33,819 square […]
NEW YORK — Northspyre, a financial tracking and project delivery automation platform for real estate developers, has secured $25 million in Series B funding to further grow its business and expand its solution to improve the development process within the multi-trillion dollar commercial real estate industry. The new round is led by CRV, with participation […]
NEW YORK — The Empire State Building (ESB), in partnership with Bank Street College of Education, has updated, interactive lesson plans for student group visits to its brand new $165 million Observatory upgrade. The curriculum follows New York State Learning Standards for STEAM (science, technology, engineering, arts, and mathematics) and social studies curricula and has grade level appropriate lesson plans for elementary, […]
NEW YORK — Financial data and media firm Bloomberg LP has signed a 191,207 square foot expansion lease at 919 Third Avenue (Photo above) covering the entire 28th through 33rd floors. This expansion increases Bloomberg’s commitment at 919 Third Avenue to 748,415 square feet. 919 Third Avenue is owned by developer SL Green. Designed by […]
NEW YORK — SL Green Realty Corp. has sold a 25 percent interest in One Madison Avenue — currently under construction — to an international investor. The buyer has committed aggregate equity to the project totaling no less than $259.3 million. SL Green retained a 25.5 percent interest in the property, while its joint venture […]
NEW YORK — Fund That Flip, a real estate-focused financial technology platform based in NY and Cleveland, announced the first close of its $20 million Series B funding round. The financing was led by GPO Fund of New York, with participation from MassMutual Ventures and Tribeca Early Stage Partners. More than 50 Fund That Flip […]
NEW YORK — SL Green Realty Corp. has sold an office building at 590 Fifth Avenue in Manhattan for a gross sale price of $103.0 million. “Closing on the sale of 590 Fifth Avenue at a price of $1,000 per square foot demonstrates the continued demand for well-located New York City office and retail properties,” said Harrison Sitomer, Senior Vice President of […]
NEW YORK — SL Green Realty Corp. announced that enterprise automation software company, UiPath has signed a 15-year, 26,363-square-foot lease at One Vanderbilt Avenue covering the entire 60th floor. The One Vanderbilt tower opened last year next to Grand Central Terminal and is over 91% leased. “We’re delighted to welcome UiPath to One Vanderbilt Avenue,” […]
ENDICOTT, NY — Phoenix Investors has purchased a former IBM campus made up of 29 buildings and encompassing 130 acres near Binghamton. The campus is commonly known as the birthplace of IBM and comprises approximately 4 million square feet in Endicott, NY. The cluster of buildings, generally encompassing downtown Endicott is now known as the Huron […]