News:
Brokerage
Posted: August 27, 2024
Cushman & Wakefield arranges 5,553 s/f lease extension for Empyrean Capital Partners
Manhattan, NY Cushman & Wakefield has arranged a long-term 5,553 s/f lease extension for Empyrean Capital Partners at 499 Park Ave. The investment manager will continue occupying the entire 28th floor.
Cushman & Wakefield’s David Hoffman and Sam Hoffman represented the tenant in the transaction.
"The 28th floor at 499 Park Ave. offers Empyrean a unique combination of efficiency, privacy and beautiful views," said Hoffman. "The property’s prime location made it the ideal choice."
Located in the Plaza District, 499 Park Ave. is on the northeast corner of 59th St. and is a premium boutique office tower. The 28-story, all glass windowed building provides plenty of natural light and boasts access to to dining and high-end shopping options, boutique hotels and public transportation.
Tags:
Brokerage
MORE FROM Brokerage
AmTrustRE secures 5,754 s/f lease with GKV Architects at 360 Lexington Avenue
Manhattan, NY AmTrustRE has executed a 5,754 s/f lease at its premier boutique Midtown East office tower, 360 Lexington Ave., with longtime partner GKV Architects. The award-winning firm will occupy a portion of the 14th floor. >“GKV Architects has been a trusted partner to AmTrustRE for over two decades, playing an integral role in shaping and elevating several
Columns and Thought Leadership
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
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
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
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,
