Instacart Takes 26K SF at ESRT’s 111 West 33rd Street

Jul 20, 2026

Grocery delivery app Instacart is getting a bigger home in Midtown. The San Francisco-based technology company has signed a 26,134-square-foot lease at Empire State Realty Trust (ESRT)’s 111 West 33rd Street, the landlord announced Monday. The seven-year lease was signed during the second quarter of 2026, according…

Capital Markets U.S. National New York San Francisco California

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ACORE Capital Provides $140M to Refi Self-Storage Portfolio

A joint venture between the Ardent Companies and StepStone Real Estate has secured a $140 million loan to refinance a portfolio of eight, Class A self-storage properties in seven northeastern U.S. states, according to a release. ACORE Capital provided the debt, structured as a floating-rate loan, while a JLL…

Capital MarketsSelf StorageDebt & FinancingU.S. NationalNew York

Posted today·Published Jul 21, 2026Read

Commercial ObserverNews

M&T Refis 300 East 50th Street Resi Tower With $141M Loan

A joint venture consisting of Global Holdings, MAG Partners and Safanad has sealed $141.4 million of bridge debt to refinance a newly built luxury apartment tower in Midtown Manhattan’s Turtle Bay neighborhood, Commercial Observer has learned M&T Realty Capital Corporation provided the loan on the sponsorship’s…

Capital MarketsMultifamilyDebt & FinancingU.S. NationalNew York

Posted today·Published Jul 21, 2026Read

Commercial ObserverNews

New York City Hotel Labor Deal Creates Hurdles for Hospitality Underwriting

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…

Capital MarketsHospitalityU.S. NationalNew York

Posted today·Published Jul 21, 2026Read

GO Residential REIT Completes $109M Brooklyn Apartment Building Acquisition

GO Residential REIT has been on a bit of a buying spree this year, and it just completed its previously announced acquisition of an approximately 81 percent managing interest in a multifamily building in Crown Heights, Brooklyn. The real estate investment trust, using the LLC GO 409, acquired control of the…

Capital MarketsMultifamilyREITsU.S. NationalNew York

via Commercial Observer·Posted today·Published Jul 21, 2026Read

Commercial ObserverNews

Pfizer Incident or Not, New York Still Has a Lot of Office Conversions Left to Go

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…

Capital MarketsOfficeU.S. NationalNew York

Posted today·Published Jul 21, 2026Read

Oceanwide Plaza Sale Set to Advance After L.A. Drops Objections

Los Angeles’ Oceanwide Plaza, a massive downtown development stuck in limbo so long it became tagged and transformed into the infamous Graffiti Towers, has been cleared for sale. The long process of selecting a new developer after the original Chinese developer went bankrupt may finally be coming to a close. KPC…

Capital MarketsU.S. NationalNew York

via Commercial Observer·Posted today·Published Jul 21, 2026Read

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