News: Brokerage

Okun and Taormina of Cresa complete 5,000 s/f lease for Octave; Koeppel of Koeppel Rosen LLC reps owner

Michael Okun, Cresa

 

Daniel Taormina, Cresa

 

Manhattan, NY Cresa’s Michael Okun, principal, and Daniel Taormina, vice president, have arranged a new location for Octave at 45 East 20th St., between Broadway and Park Ave. South, in Flatiron (the Ladies’ Mile Historic District.) It is the second lease Cresa has arranged for the modern behavioral health group within the past year and comprises 5,000 s/f spanning the entire sixth floor of the building, with a 10-year lease term. Octave, which opened its flagship unit on Madison Ave. near Bryant Park in January, provides a full range of offerings to support emotional well-being.

“Octave provides a wide range of services for busy, working professionals,” said Okun. “It is why we focused both locations on mixed-use districts, convenient to public transportation.”

Taormina said, “Working with the Octave team is always a pleasure. They are mindful of their client-base and consistently seek out spaces that project a calm environment. The building’s owners and their representatives were exceptionally accommodating.” 

The 12-story building is owned by the Rosen Family. Max Koeppel, director of leasing with Koeppel Rosen LLC, represented the ownership. The property features a new restored historic district façade, lobby and entryway.

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 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.
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 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