Manhattan, NY Cole Schotz P.C. represented Cantor Fitzgerald in two 16-year lease renewals for two contiguous premises containing a combined 208,000 s/f in Midtown.
The financial services firm’s corporate headquarters will continue to reside at 110 East 59th St., owned by Tenber Associates, L.P., an affiliate of Jack Resnick & Sons, and 499 Park Ave., owned by SVF Park New York, LLC, an affiliate of American Realty Advisors.
Cole Schotz member Michael Jones advised Cantor Fitzgerald in the renewals of the lease agreements.
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,