News:
Brokerage
Posted: September 12, 2023
Fried Frank advises RXR Realty in Davis Polk & Wardwell lease extension at 450 Lexington Ave.
Manhattan, NY Fried Frank advised RXR Realty on its 25-year lease extension with global law firm Davis Polk & Wardwell LLP at its 450 Lexington Ave. office building and related modifications to the building’s existing financing.
As part of the renewal, Davis Polk will be expanding its footprint at the 40-story class A office tower by an additional floor, adding 30,000 s/f, and bringing its footprint in the building to over 700,000 s/f. In connection with the lease, RXR and its partners are also investing over $300 million for extensive capital improvements throughout the building common areas and across Davis Polk’s 23 floors. This transaction is the largest lease in New York City in 2023 to date.
Tags:
Brokerage
MORE FROM Brokerage
CM&B completes 15,000 s/f Activate Games NYC debut in Union Square
Manhattan, NY Construction Management and Builders, Inc. (CM&B) has completed construction of Activate Games’ first US flagship store in New York City, transforming a historic Union Square retail destination into a 15,000 s/f active gaming experience where players become part of the game.
Columns and Thought Leadership
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
Hunt commercial real estate question and answer: The total cost of relocation - by David Hunt
You have a right to be concerned. I am always surprised at the companies that will negotiate the price of their new facility down to the last dollar, without thoroughly analyzing their
New York’s streets are full again, and the retail numbers prove it - by Noam Aziz
Walk down any New York block this year and you can feel it. The sidewalks are crowded, the storefronts are lit, and the energy that defines this city is back at full volume.
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,
.gif)
August Promotion
