News: Brokerage

Freeman, Alexander and Stillman of CBRE arrange 12,202 s/f lease

CB Richard Ellis has arranged a five-year, 12,202 s/f lease at 1095 Ave. of the Americas on behalf of the landlord. New hedge fund Dabroes Management will occupy space on the 24th floor when construction is completed, toward year's end. The landlord, 1095 Ave. of the Americas, LLC, recently completed $275 million in building renovations.  "Dabroes wanted high-end space in Midtown, and found the landlord to be extremely flexible, providing a build-to-suit unit designed for its specific needs," said Zach Freeman, first VP, CBRE, who arranged the lease with Robert Alexander, chairman, and Rob Stillman, executive VP.  As part of the building renovations, the 41-story, 1.2 million s/f property now has a new floor-to-ceiling glass curtainwall, an upgraded HVAC system, new ground-floor and sky lobbies, and destination-controlled elevators. Andy Sachs and William Levitsky, of Cushman & Wakefield, represented the landlord on the Dabroes Management lease.
READ ON THE GO
DIGITAL EDITIONS
Subscribe
Columns and Thought Leadership
Multi-generational multifamily owners - who’s in and who’s out - by Shallini Mehra and Amit Doshi

Multi-generational multifamily owners - who’s in and who’s out - by Shallini Mehra and Amit Doshi

Many long-time property owners are divesting from their rent stabilized properties at an increasingly rapid pace. This trend has gained momentum primarily due to the unyielding permanence of rent laws over the past six years and the increasing operating costs that continue to outstrip rent growth. In addition, the judiciary’s elongated timeline in processing evictions and tenant rent challenges,
Navigating the changing landscape of hotel Property Improvement Plans and conversion brands - by Andrew Cameron

Navigating the changing landscape of hotel Property Improvement Plans and conversion brands - by Andrew Cameron

When owners are due for a significant Property Improvement Plan (PIP), they must carefully evaluate what the best course of action is. Over the past five years, major hotel brands have become significantly more flexible with their PIP schedules.
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
Artificial intelligence in lending - by Lindsay Mesh Lotito

Artificial intelligence in lending - by Lindsay Mesh Lotito

Artificial intelligence (AI) is beginning to help transform lending by enhancing decision-making, improving risk management and streamlining operations. With AI-powered tools that analyze vast amounts of data, lenders are able to assess borrower creditworthiness more accurately and efficiently. AI can evaluate a wide range of factors,