Daily business news in New York
NEW YORK — SL Green Realty, New York City’s largest office landlord, together with its joint venture partners including the National Pension Service of Korea and Hines, recently celebrated the topping out of its upcoming One Madison Avenue office tower, located at the corner of 23rd Street and Madison Avenue. With construction managed by AECOM […]
It gets more and more expensive to rent an apartment in Manhattan. A new monthly report by Miller Samuel and Douglas Elliman found average rents in Manhattan reached a record high of $5,113 in July. The average rental price in Manhattan is up 27.5% from a year ago. In Manhattan according to the report, the […]
ALBANY – Mortgage rates surged to over five percent in May and home prices continued their upward climb across the Empire State, based on data from the New York State Association of Realtors. According to Freddie Mac, the monthly average on a 30-year fixed-rate mortgage soared from 4.98 percent in April 2022 to 5.23 percent […]
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 […]