News: Brokerage

Monday Properties and Invesco arrange six leases totaling 22,318 s/f

Monday Properties and Invesco arranged the closing of six separate lease transactions at its 230 Park Avenue office tower totaling 22,318 s/f. Jordan Berger, director of leasing at Monday Properties represented the landlord along with co-agent Jones Lang LaSalle - Paul Glickman, Frank Doyle, Jonathan Fanuzzi and David Kleiner. * Eagle Advisors, LLC, a diversified financial advisory and financial services firm, signed an extension of its 4,466 s/f lease on the fifth floor. The firm, which has been a tenant at 230 Park Avenue since 2003, was represented by Gary Kamenetsky of CBRE. * The Thompson Family Foundation, a private charitable organization, signed an extension of its 2,941 s/f lease on the 15th floor. Thompson family subsidiaries have been tenants at 230 Park Avenue dating back to 1982. Their lease extension was negotiated directly with Monday Properties. * Sageworks, Inc., a leading source of industry data on the financial performance of private companies, signed a new lease for 2,687 s/f of new, pre-built office space on the fourth floor. The tenant was represented by Michael Leff and Stephen DeFlorio of Avison Young. * Earth Networks, a company best known for its WeatherBug network of real time, pinpoint weather forecasts for 2.6 million cities around the world, signed an extension of its 3,998 s/f lease on the ninth floor. The tenant negotiated directly. * In a 7-year lease transaction, Comerica Incorporated expanded by 7,286 s/f on the sixth floor. The tenant now occupies 13,158 s/f at 230 Park Avenue. The deal comes on the heels of the 2,000 s/f expansion they signed in the summer of 2013. The tenant negotiated directly. * Starbucks renewed for 10 years its retail lease for 940 s/f on the Ground Floor of 230 Park Avenue on East 45th Street between Vanderbilt and Lexington Avenues. Starbucks has been a tenant since 2000 and is a highly valued amenity within the 230 Park Avenue community. David Firestein of The Shopping Center Group, the exclusive broker for Starbucks in the New York City region, represented the tenant.
READ ON THE GO
DIGITAL EDITIONS
Subscribe
Columns and Thought Leadership
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.
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,