News: Brokerage

Cushman & Wakefield arranges 18,803 s/f lease for Complete Discovery Source Inc. at 250 Park Ave.

New York, NY Cushman & Wakefield has arranged an 18,803 s/f lease for Complete Discovery Source Inc. at 250 Park Ave. The tenant, a legal services firm, will occupy the entire 18th floor.

Cushman & Wakefield’s David Hoffman, Robert Billingsley and Whitnee Williams represented the landlord, AEW Capital Management, in the transaction. Arthur Spitalnick of Kaufman Leasing Company represented the tenant.

“We are thrilled Complete Discovery Source committed long-term to 250 Park Ave. with a direct lease after being a subtenant in the building,” said Hoffman. “Complete Discovery Source’s decision to remain at 250 Park Ave. speaks to the building’s modern infrastructure and incredible location.”

250 Park Ave. is a commercial office building with a retail component in Midtown Manhattan offering Park Avenue elegance with an efficient center core floor design. The institutionally owned building has completely updated its infrastructure to include a new HVAC system, fiber-optic phone lines, new elevator mechanicals and a modern new lobby with entrances on both Park and Vanderbilt Ave.'s.

“250 Park Ave. is a highly desirable building due to its Class A work environment with a new lobby, interior elevator cabs and state-of-the-art innovations and location in Midtown East,” said Spitalnick. “Having been at the space previously as a subtenant, Complete Discovery Source wanted this location to be a permanent office to support the company’s growth.”

Located steps from Grand Central Terminal and the new Grand Central Madison LIRR station, 250 Park Ave. offers exceptional access to public transportation including Metro North and multiple subway lines, including the 4, 5, 6, 7 and S trains. The neighborhood features an abundance of retail, dining and hospitality options within walking distance.

READ ON THE GO
DIGITAL EDITIONS
Subscribe
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