News: Brokerage

CCRNY renews its 6,370 s/f space at Masonic Hall

City Connections Realty (CCRNY) has renewed the lease on its current office space at The Masonic Hall at 71 West 23rd St. CCRNY president and founder, David Schlamm said, "I renewed for another 10 years as I love the building and the location as much as I did 10 years ago." The firm has also just begun a full renovation of the 6,370 s/f space on the 10th floor after the renewal. "The investment to renovate and modernize the office was easy. We've done some refreshing here and there over the last 10 years, but I felt it was important to give our clients, agents and even staff a fresh, modern office to come to everyday," said Schlamm. During construction, the company will temporarily occupy space on the 6th floor of the building. Some highlights of the renovation include two new conference rooms, reconfigured private offices and a collaboration area doubling as a lounge. Schlamm represented his company in the transaction with the landlord. CCRNY is the exclusive leasing agent for the building. The Masonic Hall and Home is owned and operated by the Trustees of the Masonic Hall. Built in 1912, the 243,200 s/f building encompasses the entire corner of Sixth Ave. from 23rd to 24th Sts. The side facing 23rd St. contains office space on 18 floors while the other half, facing 24th St., includes banquet and meeting rooms available to tenants, a ground floor commercial space and many rooms used for Masonic purposes, most impressively the two-story Grand Lodge with a custom organ, plush and elaborate décor. The Masonic Hall features a well-maintained marble lobby, attended 24 hours a day, on-site management and daily tours of the ornate meeting rooms. In addition to the office space, the landlord also rents to retail tenants Chase Bank and Duane Reade on the 23rd St. side.
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,

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.
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