School Construction Authority Relocating Office to 350K SF at One Court Square

The New York City School Construction Authority (SCA) is migrating to the north side of Sunnyside Yards with a new office lease for 350,000 square feet at 1 Court Square, Commercial Observer has learned. The city agency signed a 20-year lease to occupy 11 floors in the Long Island City, Queens, tower and will relocate from the nearby 30-30 Thomson […]

City takes aim at landlords’ empty retail space

The City Council on Thursday passed a bill to ramp up reporting requirements for vacant retail space. The measure, sponsored by Manhattan Council member Gale Brewer, builds on a 2019 law that established a public database of commercial properties in New York City. As part of that law, commercial building owners must report vacant ground- and second-floor […]

Franklin Templeton signs one of the largest new leases in Manhattan this year

Investment firm Franklin Templeton has taken 347,000 square feet at SL Green’s newly constructed One Madison tower—the second-largest office lease deal of the year so far.     Full article below:https://www.crainsnewyork.com/real-estate/franklin-templeton-signs-manhattans-second-largest-office-lease-2022  

Investment, Law Firms Ink 16K SF of Deals at 1155 Avenue of the Americas

Investment company Francisco Partners and law firm Jenner & Block are investing in the Theater District. Francisco Partners inked a deal to relocate from about 3,000 square feet at 1114 Avenue of the Americas to 10,985 square feet across most of the 28th floor of the Durst Organization’s 1155 Avenue of the Americas. The deal allows Jenner & Block to nab the floor’s […]

Trio of Doctors’ Offices Signs Leases at 133 East 58th Street

A handful of medical tenants have inked deals for new offices at 133 East 58th Street, landlord Jack Resnick & Sons announced. Full article below: https://commercialobserver.com/2022/09/trio-of-doctors-offices-signs-leases-at-133-east-58th-street/#:~:text=A%20handful%20of%20medical%20tenants,of%20the%2015%2Dstory%20building.

Midyear 2022 – Manhattan Office Market Report

Manhattan leasing activity remained steady in the first two quarters of the year but has tapered off slightly from a strong second half of 2021 when leasing totaled 19.0 million SF. Read the complete report here: Midyear 2022 Office Market Report

Lee NYC Reps MD Squared Property Group in Midtown South Move

Lee NYC Reps MD Squared Property Group in Midtown South Move BY PAUL BUBNY Lee & Associates NYC represented MD Squared Property Group, a property management company, in a 14,855-square-foot, five-year sublease at 7 Penn Plaza in Manhattan’s Midtown South submarket. The firm, which operates across all five boroughs of New York City, has relocated […]

MD Squared Takes 15K SF at Seven Penn Plaza

MD Squared Takes 15K SF at Seven Penn Plaza BY CELIA YOUNG JULY 6, 2022 2:24 PM Residential landlord MD Squared Property Group will triple its New York City footprint. MD Squared inked a five-year sublease to relocate from less than 5,000 square feet on the fourth floor of 801 Second Avenue to a 14,855-square-foot space across part of the sixth floor […]

NYC Offices Are Getting San Fran-Style Perks to Lure Reluctant Workers Back

West coast office culture is invading NYC. Last year, real estate brokerage Savills made major changes to its 63,000-square-foot Midtown office that included the installation of a smorgasbord of tech-driven gizmos. The space now has a podcast room, 11 Zoom rooms, soundproof phones, collaborative spaces of various sizes and huddle rooms. The company also renovated its 399 Park Ave. […]