Manhattan, NY According to Cushman & Wakefield, New York Cares, the largest volunteer network in New York City, has signed an 8,280 s/f lease at 39 Bdwy. The nonprofit will occupy the entire 27th floor.
Cushman & Wakefield’s Carri Lyon and Jenna Catalon represented the tenant. Cammeby’s Management Co., LLC was represented by Brian Siegel.
39 Bdwy. is a 447,400 s/f office building featuring a prewar classic lobby, natural lighting and a Duane Reade located in-building.
Major tenants include the Waterfront Commission of New York Harbor and Food Bank for New York City.
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,