News: Brokerage

C&W team and Swiger of SL Green represent landlord in 20,626 s/f lease

According to SL Green Realty Corp., ECT Capital LLC, a new division of Fortis Bank Nederland, has signed a 20,626 s/f lease covering the entire 17th floor of 100 Park Ave., the 36-story, 835,815 s/f LEED certified building. "We are delighted to welcome ECT Capital to 100 Park," said Steven Durels, executive VP and director of leasing and real property for SL Green. "They are a great addition to our high profile tenant roster and this transaction is reflective of the increased activity within the Midtown leasing market during the second quarter of this year." John Lizzul of Newmark Knight Frank represented ECT. Paul Glickman, Tara Stacom, Mitti Liebersohn, Jonathan Tootell and Diana Biasotti of Cushman & Wakefield and Larry Swiger of SL Green represented the landlord. The attorneys were David Brooks, Exq. Of Paul Hastings Janofsky & Walker for SL Green, and Kevin O'Shea Esq. of Allen & Overy for the ECT. BOMA just recognized 100 Park as International Renovated Building of the Year for 2009, following the completion of its $72 million redevelopment. ECT joins other recent new tenants including Wells Fargo Trade Capital, Aetna Insurance Company and Eaton Vance.
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REALM, DelShah Capital and A.M. Properties acquire 377,000 s/f CitySpire office condominium

Manhattan, NY REALM, in partnership with DelShah Capital and A.M. Properties, acquired  CitySpire, a 377,000 s/f office condominium comprising 24 floors within the 70-story tower at 156 W 56th St. in Midtown. Adjacent to Central Park with transit access and amenities, CitySpire is a Class A office asset located in one of the city’s most sought-after office corridors.
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Columns and Thought Leadership
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.
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
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,

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