News: Brokerage

Blair and Kearns of Cushman & Wakefield secure 5 leases totaling 19,599 s/f

Cushman & Wakefield represented ownership of 500 Fifth Avenue, located across the street from Bryant Park, in five lease transactions totaling 19,599 s/f. Cushman & Wakefield's Harry Blair and Sean Kearns represent 500 Fifth Avenue Inc. as exclusive leasing agent. "500 Fifth Avenue offers tenants a prestigious Midtown Manhattan address combined with high-quality space with plenty of natural light and spectacular views of Bryant Park," said Blair, a Cushman & Wakefield senior director. "These qualities, as well as the convenience of being located near Grand Central Station, Penn Station, The Port Authority and major subway lines, make the building attractive to tenants in the market." Recent transactions include: * The University of Oxford, which was represented by Paul Ippolito and Michael Morris of Newmark Grubb Knight Frank, renewed its lease for 10,346 s/f on the entire 32nd floor. * Argus Media, Inc., which was represented by Peter Berti and Helen McCarthy of Cushman & Wakefield, expanded in the building for a total of 4,538 s/f in suite 2410. * New Vision Communications Corp. signed a new lease for 2,050 s/f in suite 1740. * China XD Plastics Company Limited signed a new lease for 1,441 s/f in suite 960. * Forward Insight Commodities, LLC signed a sublease for 1,224 s/f in suite 2030. Built in 1931, 500 Fifth Avenue is a 680,000 s/f, class-A, Art Deco skyscraper.
READ ON THE GO
DIGITAL EDITIONS
Subscribe
Columns and Thought Leadership
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,

Strategic pause - by Shallini Mehra and Chirag Doshi

Strategic pause - by Shallini Mehra and Chirag Doshi

Many investors are in a period of strategic pause as New York City’s mayoral race approaches. A major inflection point came with the Democratic primary victory of Zohran Mamdani, a staunch tenant advocate, with a progressive housing platform which supports rent freezes for rent
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
AI comes to public relations, but be cautious, experts say - by Harry Zlokower

AI comes to public relations, but be cautious, experts say - by Harry Zlokower

Last month Bisnow scheduled the New York AI & Technology cocktail event on commercial real estate, moderated by Tal Kerret, president, Silverstein Properties, and including tech officers from Rudin Management, Silverstein Properties, structural engineering company Thornton Tomasetti and the founder of Overlay Capital Build,