News: Brokerage

Mosler, Mirante and Glassman of C&W rep Cohen in 212,594 s/f lease; Weiss, Cabrera and Thuss of C&W rep tenant, Meredith Corp.

In a move to bring its office operations under one roof, Meredith Corp. has leased nine full floors comprising 212,594 s/f for its new corporate headquarters at Charles Cohen's 805 Third Ave.at 50th St. The company plans to consolidate its offices, currently housed in about the same amount of space but at two separate locations into its new facilities, which will also feature a TV studio for live broadcasts. The relocation is expected to be completed by late 2011. Meredith employs 700 employees in the city. "This is a company that I've worked with on many occasions and have great admiration for, so when the opportunity presented itself to bring Meredith to 805 Third Avenue as our anchor tenant, I was determined to create the kind of corporate environment needed to get this deal done," said Cohen, president and CEO of Cohen Brothers Realty Corp. Bruce Mosler, Arthur Mirante and David Glassman of Cushman & Wakefield, the building's leasing agents, represented the landlord while Edward Weiss, Joseph Cabrera and Robert Thuss of Cushman & Wakefield represented Meredith in the long-term leasing transaction for floors 6 and 22 through 29. With the Meredith signing, the 600,000 s/f, 31-story office tower at 805 Third Ave., which occupies the entire easterly blockfront between 49th and 50th Sts., is over 90% leased. Other office buildings owned and managed by Cohen Brothers include 623 Fifth Ave., 750 Lexington Ave., 622 Third Ave., 135 East 57th St., 3 Park Ave., 979 Third Ave., 3 East 54th St., and 475 Park Ave. South.
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Columns and Thought Leadership
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.
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
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.
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