Manhattan, NY Cushman & Wakefield has arranged a 10,570 s/f, 11-year lease for Corporation for Supportive Housing at 55 Bdwy. The organization will occupy the entire 10th floor.
Cushman & Wakefield’s Aron Schreier and Jason Kroeger represented the tenant in the transaction. CBRE’s Brad Gerla, Jonathan Cope and Hayden Pascal represented the landlord, Harbor Group International, LLC.
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,