News: Brokerage

Rotante, Joseph and Leary of FirstService Williams lease 8,500 s/f

FirstService Williams arranged a five-year, 8,500 s/f sublease at 1140 Broadway. FirstService represented architecture and design firm Perkins Eastman Architects in subletting the entire 14th floor to Creative Realities Inc., a technology company that assists businesses in the retail, hospitality and entertainment industries. The FirstService Williams team of Ted Rotante, Michael Joseph and Michael Leary represented Perkins Eastman Architects. Based in Fairfield, N.J., Creative Realities was looking for well-located space to accommodate its expansion into the New York City market. "Perkins Eastman had some excess space and chose a short-term sublease with a growing firm to address the obligation," Rotante said. He noted that the space appealed to Creative Realities as it was a full floor, in near move-in condition, with great light and views. Creative Realities will take possession in early 2010 when a minor build-out is expected to be completed. The 128,000 s/f, 16-story building is located on the corner of East 26th St., and houses other office tenants such as Amex Realty and Bluemoon Trading, and retail tenants Ace Fashion and N.Y.I. Co. Hal Stein, Robert Sattler and Wilson Travis of Newmark Knight Frank, represented Creative Realities. FirstService Williams serves as is the Tri-State metropolitan hub of FirstService's Commercial Real Estate services division. Major service lines include: Tenant advisory services, owner representation, corporate services, capital markets, retail, industrial, FSW consulting, financial services, asset management and project management. With nearly 300 employees and offices in Manhattan, Westchester, New Jersey and Connecticut, FirstService Williams advised on more than $4.5 billion in sale, lease and capital markets transactions over the last 12 months. The firm manages more than 16 million s/f of prime commercial property. For more information, please visit the FirstService Williams web site at www.fswre.com.
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
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 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.
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