News: Brokerage

Epstein of HSP Real Estate arranges 5,320 s/f lease for Plusgrade, L.P.

Howard Epstein,
HSP Real Estate

Manhattan, NY Howard Epstein, director, HSP Real Estate Group, a member of NAI Global, has arranged a five-year lease at 16 West 36th St. for Plusgrade, L.P. a leading technology provider of upgrade solutions for airlines. The tenant will be moving from a comparably-sized space on the fourth floor of the building to its newly built-out, 5,320 s/f second-floor office in January 2019.

Epstein represented the landlord, Kiamie Industries, Inc., for the transaction at the 13-story office building, located between Fifth and Sixth Aves. The tenant’s brokers were Eric Zemachson, senior managing director, and Benjamin Stein, associate, Newmark Knight Frank.

“This was an ideal solution for Plusgrade’s space requirements,” said  Epstein. “The landlord made sure the process was minimally disruptive for the tenant and additionally provided a terrific build-out.”

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
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
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,