HPNY arranges $15 million sale of 50 Trinity Place

HPNY has completed the sale of 50 Trinity Place in the Financial District for $15 million. Trinity Place is a 3,800 s/f vacant lot at the corner of Rector St. with development plans for a 197-room hotel. The buyers were a west coast group of investors looking to capitalize on land deals around the 9/11 Memorial vicinity. In recent months there has been a mini-boom due to travelers coming to the area. The deal was arranged an off market transaction through Ivan Hakimian's firm HPNY.

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Houlihan Lawrence Commercial sells residential development site for $2.1 million

Pelham, NY Houlihan Lawrence Commercial, a division of Houlihan Lawrence, sold 163 Wolfs Ln. for $2.1 million. The site was previously approved for a 27-unit multifamily building with one retail space and 34 parking spaces.

GFP Real Estate signs Knit Illustrated to 4,051 s/f five-year lease at 247 West 37th St.

GFP R.E. signs Knit Illustrated to 4,051 s/f at 247 West 37th St.

The Feil Organization signs 15-year, 46,000 s/f renewal with Thompson Coburn LLP at 488 Madison Ave.

Feil signs 46,000 s/f renewal with Thompson Coburn at 488 Madison Ave.

Cushman & Wakefield arranges 16,051 s/f lease at 125 Broad St. to Harris Trzaskoma, LLP

C&W arranges 16,051 s/f lease at 125 Broad St. to Harris Trzaskoma

CBRE leases 9,527 s/f to Cypress Creek Renewables at 530 Fifth Ave.

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Phillips of Largo Real Estate arranges $2.2 million mortgage refinancing

Columns and Thought Leadership

AI comes to public relations, but be cautious, experts say - by Harry Zlokower

Last month Bisnow scheduled the New York AI & Technology cocktail event on commercial real estate, moderated by Tal Kerret, president, Silverstein Properties, and including tech officers from Rudin Management, Silverstein Properties, structural engineering company Thornton Tomasetti and the founder of Overlay Capital Build,

Behind the post: Why reels, stories, and shorts work for CRE (and how to use them) - by Kimberly Zar Bloorian

Let’s be real: if you’re still only posting photos of properties, you’re missing out. Reels, Stories, and Shorts are where attention lives, and in commercial real estate, attention is currency.

Lasting effects of eminent domain on commercial development - by Sebastian Jablonski

The state has the authority to seize all or part of privately owned commercial real estate for public use by the power of eminent domain. Although the state is constitutionally required to provide just compensation to the property owner, it frequently fails to account

Strategic pause - by Shallini Mehra and Chirag Doshi

Many investors are in a period of strategic pause as New York City’s mayoral race approaches. A major inflection point came with the Democratic primary victory of Zohran Mamdani, a staunch tenant advocate, with a progressive housing platform which supports rent freezes for rent