News: Brokerage

Brod and Neborak of PBS Real Estate brokers three leases totaling 17,000 s/f

PBS Real Estate has secured three new commercial leases at 150 East 52nd St., totaling more than 17,000 s/f, for securities firm Dominick & Dominick, international beauty and fragrance company batallure beauty, LLC, and an international industrial conglomerate. The firm has now completed leases for over 135,000 s/f of space in the building, with less than 20,000 s/f available. "The recent success of 150 East 52nd Street has been due primarily to our ability to offer above standard, fully customized installations at competitive rents," said John Brod, principal, PBS Real Estate. "The building remains a terrific value for tenants in the current Plaza District market." "Since rebranding the property, we have been able to attract a number of marquee tenants from other premier buildings on Park, Fifth and Madison Aves., who were drawn to its 8,000 s/f tower floor plates and spectacular views that were ideal for their headquarters needs," added David Tawfik, Principal of Princeton International Properties, the building owner. PBS Real Estate is the exclusive leasing agent for 150 East 52nd St., a 300,000 s/f, 35-story Plaza District commercial property. John Brod, Howard Hersch and Robert Neborak of PBS Real Estate represented Princeton International Properties in all three transactions. Dominick & Dominick added 5,616 s/f in the building, bringing its total to 27,625 s/f; the tenant was represented by Newmark Knight Frank. Batallure beauty leased 7,474 s/f and was represented by Laura Pomerantz of PBS Real Estate. The international industrial conglomerate leased 4,043 s/f and was represented by CB Richard Ellis. Additionally, PBS Real Estate recently completed leases in the building for IHI Corporation, a Japanese-based producer of heavy industrial machinery and equipment for transport, and financial companies Summit Securities Group and HSHN Securities.
READ ON THE GO
DIGITAL EDITIONS
Subscribe
Columns and Thought Leadership
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
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
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.
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,