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Northmarq’s New York Metro Debt + Equity team led by Robert Delitsky and Keith Braddish arranged the $15-million refinance of Atlantic Plaza Shopping Center. The 34,949-square-foot, multi-tenant anchored center is located at 102-20 Atlantic Avenue in the Ozone Park section of Queens. Northmarq arranged the…
Tidal Real Estate Partners is “waving” hello to the opportunity to convert a Savannah, Ga., multifamily building into a Margaritaville-branded hotel. The New York City development firm just sealed $113 million of bridge debt to recapitalize and repurpose the 2023-built Ann Street Lofts property into the 230-key…
Real estate investment and development firm Grun Group has filed plans with the New York City Department of Buildings (DOB) to bring a pair of 99-unit residential towers to the Bronx’s Woodlawn Heights neighborhood, records show. If approved, the first of the two new buildings will be at 4241 Webster Avenue and…
Alert the Queen, here come the corgis! OK, not exactly. Corgi Cafe, a 24/7 coffee shop from Corgi, an artificial intelligence-powered insurance company — no, really — is getting ready to open its first location in New York City, Commercial Observer can first report. The tenant, which will operate a round-the-clock…
It’s become fashionable in New York City commercial real estate to bash the state’s 485-x program, which provides tax incentives for new residential development in certain areas of the five boroughs in exchange for including affordable housing. The criticism revolves around 485-x’s higher construction wage…
NEW YORK CITY — NormAI, which provides legal and compliance services, has signed a 64,313-square-foot office lease at One World Trade Center in Lower Manhattan. The space spans the entire 60th floor and part of the 61st floor. Scott Bogetti, James Wenk and Kirill Azovtsev of Savills represented NormAI in the lease…
NEW YORK CITY — Council Advisorshas renewed its 17,685-square-foot office headquarters lease in Midtown Manhattan. The consulting firm signed a 10-year extension for its space at 685 Third Avenue, a 651,000-square-foot, newly renovated building. Daniel Horowitz, Jeffrey Peck, Roi Shleifer, Jacob Stern and Max Mond…
New York-based lender S3 Capital's nationwide expansion plans have brought it to Philadelphia.
Not long ago, Miami sold itself as the affordable alternative to New York. Lower taxes, cheaper housing and sunshine drew a wave of businesses, investors and wealthy transplants during and after the pandemic. But now, consumer prices have climbed 36 percent since 2019, home values have surged nearly 80 percent and,…
Greystone provided $92M in Fannie Mae financing for three Section 8 communities in New York on behalf of Metropolitan Realty Group.
Cerberus buys $1.3 billion New York multifamily loan book at 92 cents on the dollar as regional banks accelerate exits from rent-regulated portfolios. The post Distressed Multifamily Debt Finds Buyers as Banks Exit New York Portfolios appeared first on Propmodo .
NEW YORK CITY — Solo agers are contributing to the heightened demand for seniors housing, says a new Berkadia white paper composed by Ezekiel Duprey, a lead research analyst at the… The post Solo Agers Are Driving, Defining Seniors Housing Demand, Says Berkadia White Paper appeared first on Seniors Housing Business .
Greystone has provided a total of $91,851,000 in Fannie Mae loans to refinance and acquire three affordable housing communities located in New York. The financing was originated by senior managing director Eric Rosenstock and EVP Jeff Englund on behalf of Metropolitan Realty Group. The financing includes three…
Carlyle Group and Haussmann Development have plans to partner on a 99-unit apartment complex in Brooklyn’s Crown Heights neighborhood. The two developers filed plans Thursday with the New York City Department of Buildings (DOB) to bring a new 12-story mixed-use building to 566 Grand Avenue, near the corner of Grand…
New York City's largest office landlord is generating more cash than expected as companies clamor for a dwindling supply of premier Manhattan office space.
SYOSSET, N.Y. — A joint venture between Boston-based investment firm The Davis Cos. and operator GoodFriend Storage has acquired a 555-unit self-storage facility in the Long Island community of Syosset. The facility at 475 Underhill Blvd. comprises 40,344 net rentable square feet of space across two floors and 467…
NEW YORK CITY — Industrious has opened a 28,000-square-foot coworking space in Midtown Manhattan. The space spans the sixth and seventh floors of the 29-story building at 875 Third Ave. and features 226 office seats and 26 access seats. Members also have access to a range of onsite retail, fitness and culinary…
NEW YORK CITY — M&T Realty Capital Corp. has provided a $141.4 million bridge loan for the refinancing of Anagram Turtle Bay, a 194-unit apartment building located at 300 E. 50th St. in Manhattan. Designed by BKSK Architects, the 23-story building houses studio, one-, two- and three-bedroom units, as well as…
New York City is relying, in part, on more than 16,000 units planned via office-to-residential conversions to ease its enduring housing crisis. So, when the country’s largest conversion, sitting in the heart of Midtown, starts to buckle, it’s not taken lightly. The startling structural emergency at MetroLoft and…
SL Green is reaping the rewards of a resurgent New York City office market. “It might be the dead of summer, but our team is, of course, hard at work — this is truly when we shine the brightest, are completely dialed in on our business plan, and outwork the marketing,” said CEO Marc Holliday, […]
New York City apartment developers are building fewer studio apartments as they seek to make an unpopular housing incentive work for their projects.
Manhattan remained the primary driver of New York City’s investment sales market during the first half of 2026 with total dollar volume increasing 50% year-over year to $9.87 billion across 238 transactions, according to Ariel Property Advisors’ Manhattan 2026 Mid- Year Commercial Real Estate Trends report. The…
ABILENE, TEXAS — New York City-based Dwight Capital has provided a $66 million HUD-insured construction loan for The Lariat at Abilene, a 312-unit multifamily project in West Texas. Situated on 13 acres, the garden-style property will comprise 13 three-story buildings that will house 186 one-bedroom units and 126…
SLINGERLANDS, N.Y. — Regional brokerage firm Adirondack Capital Parters (ACP) has negotiated the sale of Meadowbrook Apartments, a 98-unit building in Slingerlands, about 10 miles west of Albany. The property offers one- and two-bedroom units with private balconies/patios and amenities such as an outdoor pool,…
LIVERPOOL, N.Y. — Locally based brokerage firm Jacobson Properties has arranged the $13 million sale of a 38,913-square-foot medical office building located at 8324 Oswego Road in Liverpool, part of the Syracuse metro area. Lisa Menin of Jacobson Properties represented the undisclosed seller in the transaction and…
NEW YORK CITY — Corporate Suites has signed a 13-year, 34,857-square-foot office lease in Midtown Manhattan. The provider of flexible workspace solutions will occupy the entire 18th and 19th floors of the 22-story building at 16 E. 34th St. David Rosenbloom and Matthew Etlinger of Cushman & Wakefield represented…
On July 14, New York Gov. Kathy Hochul signed the nation’s first statewide moratorium on the building of new hyperscale data centers, pausing all state environmental permits for up to one year. The purpose, according to the governor’s announcement, is to take the time to establish “a nation-leading regulatory…
New York's single-tenant retail market delinquency rate is more than double Los Angeles's. But the real story isn't how much distress exists, but what kind of distress it is. The New York City metropolitan statistical area (MSA) carries an 18.5% delinquency rate, compared with 8.0% in Los Angeles, the…
A New York distressed-debt specialist has taken control of the buildable heart of San Francisco’s largest apartment complex, using a construction loan it never got repaid to foreclose on land approved for nearly 1,700 new homes. Yellowstone Real Estate Investments has completed a foreclosure takeover of the…
JERICHO, N.Y. — Grassi, a provider of tax and accounting services, has renewed its 41,000-square-foot office lease in the Long Island community of Jericho. The space is located within 50 Jericho Quadrangle, which is situated at the intersection of Exit 40 of the Long Island Expressway and the Jericho Turnpike. Rob…
By Danny Fishman, CEO, co-founder, GAIA Real Estate The country’s broader middle class is facing a housing crisis: a growing gap in available, high-quality rental options. High-demand markets like Miami and New York City are now appearing in headlines on two lists at once. Miami is called out as oversupplied but is…
NEW YORK CITY AND CHARLOTTE, N.C. — JLL has arranged $617 million in financing for Charlotte, North Carolina-based Grubb Properties, supporting the formation of a new real estate investment trust… The post JLL Arranges $617M in Financing for Grubb Properties appeared first on Multifamily & Affordable Housing Business .
The Durst Organization and The Port Authority of New York and New Jersey announced that Mercor has signed a lease at One World Trade Center for 25,550 square feet on the 77th floor. The term length was not disclosed. With this agreement, One World Trade Center is 97% leased and Mercor joins the growing community of…
Five landlords sue New York over rent freeze process, alleging Mayor Mamdani directed Rent Guidelines Board outcome affecting one million stabilized apartments. The post Small Landlords Challenge Rent Freeze Process in New York Lawsuit appeared first on Propmodo .
A month after the New York City Rent Guidelines Board voted to freeze rents on all stabilized leases, a group of landlords has filed a lawsuit claiming that the process was illegally influenced by the mayor. The complaint, filed Wednesday, accuses the...
Following the city’s rent freeze decision in June, it was very much expected that angry New York City landlords — now burdened with even more maintenance costs and increased upkeep on rent-stabilized apartments — would take legal action to overturn the vote. And now it’s a reality. A group of five small landlords…
New York City investment sales dipped 10 percent over the second quarter of 2026, according to Avison Young’s latest property sales report. Under the hood, however, the city’s commercial real estate market is barreling past its 2025 pace. Overall investment sales in New York City rose annually by 60 percent in the…
It’s been well documented and much lamented just how few ground-up residential units are being developed and constructed in New York City due to the limitations of 485-x, a 2-year-old state tax incentive that appears to guide most developers to a 99-unit limit on new multifamily buildings in much of the city in…
The New York City Rent Guidelines Board (RGB) recently voted to freeze rents on both one- and two-year rent-stabilized lease renewals, fulfilling one of Mayor Zohran Mamdani’s signature campaign promises. For the approximately 2 million New Yorkers living in rent-stabilized apartments, the decision was…
United Talent Agency (UTA) and Empire State Realty Trust, Inc. announced that the agency will move its New York offices to the Empire State Building next summer. The new office will feature 100,948 square feet across four floors and will house the agency’s filmed entertainment, creators, news, publishing, theatre,…
Two tenants have signed on for 6,960 square feet each at Midtown East’s 757 Third Avenue, Commercial Observer has learned. Yuco Management, a New York City-based real estate development and management firm, inked a deal to take over the entire 27th floor of the 26-story Class A office building owned by New York…
The myriad headwinds facing New York City hotel investors just got even stiffer. The Big Apple’s hospitality industry confronted rising operating and borrowing costs from persistent inflation in recent years that was further compounded by a big drop in international tourism since President Donald Trump assumed…
For a few days last week, two buckling steel columns at the Pfizer Building became the biggest real estate story in America. If you only read the headlines, you might conclude that office-to-residential conversions are suddenly in trouble. The opposite is closer to the truth. Quietly, New York has become the…
NEW YORK CITY — Nashville-based brokerage firm Matthews has negotiated the $15.2 million sale of a 19,873-square-foot mixed-use building in Lower Manhattan. The five-story building at 158 Lafayette St., which was originally constructed in 1915 and renovated in 2017, was vacant at the time of sale and is zoned to…
NEW YORK CITY — HDR has signed a 74,500-square-foot office lease at 7 Penn Plaza in Midtown Manhattan. The architecture and engineering firm will occupy the 15th, 16th and 17th floors of the 18-story, 357,000-square-foot building, which is located at 370 Seventh Ave. Andrew Wiener and Kyle Young represented the…
NEW YORK CITY — Cushman & Wakefield has arranged a $26.3 million loan for the refinancing of The Bridgeline, a 91-unit apartment building in The Bronx. The 12-story building was completed in 2018 and offers amenities such as a fitness center, a resident lounge and a rooftop terrace. Brad Domenico, Frank Stanislaski…
Area 15 in Las Vegas is a retail and entertainment complex featuring shops and food and beverage outlets in addition to attractions that take the complex far beyond traditional retail. Inside Area 15, which New York-based Fisher Brothers developed, Interstellar Arc bills itself as “the world’s largest VR…
New York has issued an executive order temporarily pausing discretionary data center permitting while environmental impacts and grid infrastructure costs are reviewed.
JLL represented global private markets investment firm HarbourVest Partners in securing its first New York City office at Soloviev Group’s 9 W. 57th St. The 10-year lease is for 19,752 square feet on a portion of the building’s 49th floor. Headquartered in Boston, HarbourVest is among the world’s leading private…
A talent agency known for its star-studded client list is moving into New York City’s most iconic building.
Walker & Dunlop, Inc. arranged $228.9 million in financing to refinance 295 Fifth Ave., a newly redeveloped, 19-story Class A office tower in Manhattan’s Midtown South submarket. Better known as the Textile Building, the century-old landmark long served as a hub of New York City’s textile industry. Dustin Stolly,…
NEW YORK CITY — Investment management firm Axonic Capital has arranged a $72 million senior loan for the refinancing of the leasehold interest of 430 Park Avenue, a 19-story office building in Midtown Manhattan. The floating-rate loan was funded through Axonic’s affiliated insurance business. The…
Los Angeles-based United Talent Agency (UTA), known for its high-profile clients, has aptly selected New York City’s most famous office building for its new East Coast headquarters. UTA leased 100,948 square feet at the Empire State Building in a move that will consolidate its various office locations across…
Brookfield Asset Management and Canada Pension Plan Investment Board are teaming up for a $5.2B bet on the U.S. industrial market. BAM, the New York-based investment management arm of Toronto-based Brookfield Corp., and CPPIB plan to buy LXP Industrial...
HarbourVest Partners, a global private markets investment firm, is moving into its first New York City office, Commercial Observer has learned. The firm, which is headquartered in Boston, has inked a 10-year deal for 19,752 square feet on part of the 49th floor of the Soloviev Group’s 9 West 57th Street. The asking…
Class A vacancy in prime Manhattan submarkets returned to pre-pandemic levels below 4% and rent growth neared 5%, while softer job growth pressures lower-income and rent-regulated apartments.
Finance and tech momentum aids core office districts, reigniting investor appetite.
Retail recovery diverges by borough as capital flows approach peak levels.
Wolf Commercial Real Estate provides a comprehensive analysis of commercial real estate conditions across Southern New Jersey, Philadelphia, Northern New Jersey, and New York Metro markets.
New York's governor signed an executive order establishing a one-year moratorium on data-center development projects with power capacities of 50 megawatts or more.