News: Brokerage

EVO Real Estate Group arranges three commercial deals in Midtown Manhattan totaling 5,000 s/f

EVO Real Estate Group has brokered three office lease deals on Fifth Avenue in Midtown Manhattan, according to Dana Moskowitz, president of the firm. The transactions totals 5,000 s/f. The three deals - all brokered at least in part, if not solely by EVO's Elliot Klein - encompass: * The entire 2,500 s/f third floor of 381/383 Fifth Avenue, leased by hair-care and beauty company Cadiveu North America Corp for a five-year term. The space will serve as headquarters for the firm's North American operations. David Youngsworth of Redwood Property Group represented the tenant. The aggregate rental for the space is $485,604. * A five-year lease at 276 Fifth Avenue for a 1,396 s/f third-floor suite for Collegiate Church Corp., a not-for-profit organization representing a collective of four like-minded churches throughout the city. The aggregate rental for the space is $272,200. Klein was the sole broker involved in the deal. *A five-year renewal, also at 276 Fifth Avenue, for Dwight Johnson Design, a full-service event production and branding firm. The aggregate rental for the tenant's 1,600-square-foot seventh-floor space is $360,000. Klein was the only broker involved. "Commercial activity remains vibrant on Fifth Avenue in Midtown" said Klein. "With myriad restaurant and hotel options, not to mention major tourist attractions, this is a can't-miss area for growing businesses." The landlords for 276 Fifth Avenue and 381/383 Fifth Avenue are 276 Managers LLC and Eljan Properties, respectively.
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.
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
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,