Manhattan, NY Newmark has secured a new 34,076 s/f lease on behalf of the Hawthorne Country Day School Manhattan. The tenant has relocated from 156 William St. to The Woolworth Building at 233 Bdwy., where it will occupy the entire fourth floor with a ground-floor dedicated entrance and lobby on Barclay St.
Newmark’s vice chairman Howard Kesseler, director Todd Hershman and associate director Alex Kesseler represented the tenant on the transaction.
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,