News: Brokerage

CB Richard Ellis handles three recent leases totaling 205,162 s/f

According to CB Richard Ellis (CBRE), the firm has recently completed the following three leases in the borough: CBRE arranged a long-term, 164,771 s/f lease renewal and expansion at 1185 Avenue of the Americas on behalf of RSM McGladrey, Inc., a division of H&R Block.  SL Green Realty Corp. is the landlord and the asking rent was $95 per s/f. John Isaacs, executive VP at CBRE represented the tenant with Kevin Powderly, VP, and Lauren Crowley, senior financial analyst. The landlord was represented internally by Steven Durels, Gary Rosen and Howard Tenenbaum. CBRE arranged a 15-year, 24,391 s/f lease at the Empire State Building, with Skanska USA Building who signed for the entire 32nd floor. Skanska is rebuilding the space and is seeking Platinum level LEED certification, the highest designation awarded by the U.S. Green Building Council. CBRE represented both sides in the lease transaction. The asking rent was $60 per s/f. Lou Buffalino, first VP at CBRE, represented Skanska. Skanska will relocate from 136 Madison Ave. when the build-out is complete, expected in early fall. CBREarranged a 10-year, 16,000 s/f lease at 460 Park Ave. South on behalf of [212]MEDIA. Moinian Group is the landlord and the asking rent was $50 per s/f. Roshan Shah, VP at CBRE represented the tenant, with Paul Walker, VP. As part of the lease's first phase, [212]MEDIA will occupy 8,000 s/f at 460 Park Ave. South, taking the 4th floor this fall, when it relocates from 72 Madison Ave. As part of the second phase, [212]MEDIA will occupy an additional 8,000 s/f, taking the 4th floor at 450 Park Ave. South, which physically connects with 460 Park Ave. South. The second phase is expected in fall 2011, to accommodate further growth. Michael Dreizen and Andy Udis, of Newmark Knight Frank, represented the Moinian Group.
READ ON THE GO
DIGITAL EDITIONS
Subscribe
Columns and Thought Leadership
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,
Lasting effects of eminent domain on commercial development - by Sebastian Jablonski

Lasting effects of eminent domain on commercial development - by Sebastian Jablonski

The state has the authority to seize all or part of privately owned commercial real estate for public use by the power of eminent domain. Although the state is constitutionally required to provide just compensation to the property owner, it frequently fails to account
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
Behind the post: Why reels, stories, and shorts work for CRE (and how to use them) - by Kimberly Zar Bloorian

Behind the post: Why reels, stories, and shorts work for CRE (and how to use them) - by Kimberly Zar Bloorian

Let’s be real: if you’re still only posting photos of properties, you’re missing out. Reels, Stories, and Shorts are where attention lives, and in commercial real estate, attention is currency.