News: Brokerage

Alexander, Amrich, Dattoma, Fiddle, Freeman and Concannon of CBRE Group reps TIAA-CREF in 74,349 s/f lease to Salesforce.com

CBRE Group, Inc. has represented TIAA-CREF, owner of 685 Third Ave., in Salesforce.com's 74,349 s/f office lease at the Grand Central location tower. In moving its NYC headquarters to 685 Third Ave., Salesforce.com is expanding from 16,350 s/f at 2 Grand Central Tower, taking the 6th and 7th floors, as well as part of the 8th floor, in a 10-year lease. CBRE represents the 626,000 s/f, 685 Third Ave. with the leasing team of Robert Alexander, Paul Amrich, Anthony Dattoma, Howard Fiddle, Zachary Freeman and Molly Concannon. Salesforce.com will join tenants Marks Paneth, A&E Television Network and Chang Hwa Bank. "Ownership's beautifully executed lobby and elevator renovation at 685 Third Ave., plus its ability to provide flexibility in respect to growth allowed it to attract a cutting edge technology firm that loves the Grand Central area and its amenities-rich neighborhood," said Freeman. Salesforce.com was represented by Gus Field, of Cushman & Wakefield. TIAA-CREF, along with world renowned architectural firm, Gensler, and Plaza Construction, is conducting a major capital renovation at 685 Third Avenue, providing a redesigned lobby, elevators and pocket park adjacent to the revamped entrance. The main interior lobby entrance off 44th St. opened to the public this week. The interior work is anticipated to be completed by early fall.
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AmTrustRE secures 5,754 s/f lease with GKV Architects at 360 Lexington Avenue

Manhattan, NY AmTrustRE has executed a 5,754 s/f lease at its premier boutique Midtown East office tower, 360 Lexington Ave., with longtime partner GKV Architects. The award-winning firm will occupy a portion of the 14th floor. >“GKV Architects has been a trusted partner to AmTrustRE for over two decades, playing an integral role in shaping and elevating several
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The anticipated effect of Basel III and ISO 20022 implementation on commercial real estate - by Michael Zysman

The anticipated effect of Basel III and ISO 20022 implementation on commercial real estate - by Michael Zysman

July 1, 2025 is the deadline for US banks to begin to adopt Basel III banking standards and July 14, 2025 is the deadline for U.S. banks to adopt ISO 20022 messaging standards. Both will have a significant effect on the banking and commercial real estate (CRE) finance sectors.
The death of the generic offering memorandum: What buyers expect in 2025 - by Kimberly Zar Bloorian

The death of the generic offering memorandum: What buyers expect in 2025 - by Kimberly Zar Bloorian

There was a time when an offering memorandum (OM) was pretty bare bones, some photos, a few bullet points on income, and a rent roll thrown in at the back. That used to get the job done. Not anymore. In 2025, buyers are sharper, faster, and more selective. They’re looking
Tri-state capital  migrates nationally amid  regulation pressure - by Reese Weaver

Tri-state capital migrates nationally amid regulation pressure - by Reese Weaver

New York tri-state multifamily investors are increasingly reallocating capital to less-regulated markets across the U.S. as rent control and legislative risk erode returns at home. With over 60% of New York City’s rental housing stock classified as rent-stabilized, the traditional value-add model — buying under-performing buildings,

A fresh start - by Shallini Mehra and Amit Doshi

A fresh start - by Shallini Mehra and Amit Doshi

For the past several years, the New York City multifamily housing market has been defined by disruption. The combined impact of the HSTPA rent laws and a sharply higher interest rate environment has fundamentally reduced