News: Brokerage

CBRE leases 9,527 s/f to Cypress Creek Renewables at 530 Fifth Ave.

Manhattan, NY In a transaction arranged by CBRE, Cypress Creek Renewables, a solar and energy storage developer and independent power producer, has inked a 9,527 s/f office lease at 530 Fifth Ave. The firm will occupy part of the 17th floor of the office property owned by Sagehall and RXR Realty.

CBRE’s David Stockel acted on behalf of Cypress Creek Renewables. The CBRE team of Paul Amrich, Neil King, Meghan Allen, and Brooke Dewing led the leasing and marketing efforts for the property and represented the building ownership in the negotiations.

“Cypress Creek required additional office space to accommodate its growing business in New York City, and the space at 530 Fifth Ave. was ideal for its current and future plans,” said Stockel. “The national energy company tripled its footprint in the city with the new lease, which speaks to its commitment to continued growth in the area.”

530 Fifth Ave. is a 475,000 s/f, Class A, boutique office building occupying an entire block on Fifth Ave. The property offers amenities with flexible office solutions for a variety of sectors, including tech, creative, hospitality, finance, and law. In addition to Cypress Creek, 530 Fifth Ave. is home to Convene, Avison Young, PEI Group, and Major, Lindsey & Africa.

READ ON THE GO
DIGITAL EDITIONS
Subscribe
Columns and Thought Leadership
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
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 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.