News: Brokerage

Mesmer of GVA Williams brokers two leases consisting of 20,000 s/f

According to GVA Williams, Ultrabland, Inc. and Kidrobot have leased a total of 20,000 s/f in space at 39 West 19th St. and 56 West 22nd St., respectively. The firms took 10,000 s/f each in the buildings, which are both located in the Chelsea neighborhood. Ultrabland signed a 10-year lease at 39 West 19th St., located between Fifth and Sixth Aves. Asking rents in the building are $35 per s/f. The boutique company, which creates promotional pieces and trailers for TV networks, including HBO, Nickelodeon, Showtime, and Lifetime, was previously located at 27 West 24th St. The company joins several other art and creative firms in the building, including The School for Film and Television and Dance Manhattan. Kidrobot will lease the ninth and tenth floors of 56 West 22nd St., also between Fifth and Sixth Aves. The building's asking rents are $41 per s/f. Perry Mesmer of GVA Williams represented the landlord in the Ultrabland lease, and both the tenant and the landlord in the Kidrobot transaction. Joe McLaughlin of Capstone Realty negotiated on behalf of Ultrabland, Inc. in its lease transaction.
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SABRE coordinates sale of six properties totaling 199,845 s/f

Huntington, NY SABRE Real Estate Advisors has completed the sale of six commercial properties across Long Island and Northern New Jersey, further underscoring the firm’s strength as a trusted partner in complex real estate transactions. The deals were led by executive vice presidents Jimmy Aug and Stu Fagen, whose combined expertise continues to drive exceptional results for clients across the region.
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Columns and Thought Leadership
Behind the post: Why reels, stories, and shorts work for CRE (and how to use them) - by Kimberly Zar Bloorian

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.
Strategic pause - by Shallini Mehra and Chirag Doshi

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
Lower interest rates and more loan restructuring can help negate any negative trending of NOI on some CRE projects - by Michael Zysman

Lower interest rates and more loan restructuring can help negate any negative trending of NOI on some CRE projects - by Michael Zysman

Lower interest rates and an increased number of loan restructurings will be well received by the commercial real estate industry. Over the past 12 months there has been a negative trend for NOI for many properties across the country.
Lasting effects of eminent domain on commercial development - by Sebastian Jablonski

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