News: Brokerage

Korchak and Winter of JLL rep owner in 25,670 s/f lease renewal at 100 Manhattanville Rd., Purchase

Jones Lang LaSalle (JLL) has completed an early lease renewal and expansion for the owner (SEB Investment GmbH) at 100 Manhattanville Rd. Knight Capital Group Inc. renewed its direct lease for 14,190 s/f of space at the building and signed for an additional 11,840 s/f at the 280,000 s/f building. Knight will occupy a total of 25,670 s/f. The building owner was represented by William Korchak, executive vice president, and Barbara Winter, senior vice president, both with JLL's New York office. Knight was represented in-house. "Knight is a growing company and was looking for expansion space in a building that could accommodate its high-tech requirements," said Korchak. "The firm preferred to remain at its existing location at 100 Manhattanville Rd., which can accommodate the technical infrastructure required to meet the company's needs." "We were able to create the space the firm required through the termination of two existing leases on the same floor," said Winter. Knight currently occupies a total of 19,030 s/f of space on the first floor at 100 Manhattanville Rd., with 14,190 s/f leased on a direct basis from the building owner and an additional 4,840 s/f subleased from another tenant. The firm renewed its direct lease of 14,190 s/f for 12 years and expanded its occupancy to 25,670 s/f by taking an additional 6,640 s/f on the first floor of the building on a direct basis. In addition, the 4,840 s/f it had subleased will convert to direct space upon expiration of the sublease and will be coterminus with the rest of its space at the building. Neighboring tenants at 100 Manhattanville Rd. include MasterCard International, Pernod Ricard USA and TAL International.
MORE FROM Brokerage

REALM, DelShah Capital and A.M. Properties acquire 377,000 s/f CitySpire office condominium

Manhattan, NY REALM, in partnership with DelShah Capital and A.M. Properties, acquired  CitySpire, a 377,000 s/f office condominium comprising 24 floors within the 70-story tower at 156 W 56th St. in Midtown. Adjacent to Central Park with transit access and amenities, CitySpire is a Class A office asset located in one of the city’s most sought-after office corridors.
READ ON THE GO
DIGITAL EDITIONS
Subscribe
Columns and Thought Leadership
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,

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.