News: Brokerage

Sabesan and Okun of CBC Hunter Phoenix arrange 23,896 s/f lease to Buddy Media; Rosen of SL Green reps landlord, GHG Realty

Coldwell Banker Commercial Hunter Phoenix's Peter Sabesan, principal, and Michael Okun, managing director, have arranged the lease for a 23,896 s/f office on the entire 12th floor of 21 Penn Plaza for social media powerhouse Buddy Media. "Placing one of the country's most important digital media and branding companies into Midtown West offices bodes well for the entire area," said Sabesan. "The Penn Station district has long been a hub for media and technology companies, but I can see how the local office towers, with their large floor plates and updated infrastructure, will continue to attract cutting-edge marketing and media companies, as well." "Our new office space speaks to the tremendous growth we've experienced as a company," said Buddy Media CEO Michael Lazerow. "We're excited to have an amazing new facility to house Buddy Media that will allow us to continue our growth trajectory." Representing landlord GHG Realty Company, LLC, was Gary Rosen of SL Green Realty.
READ ON THE GO
DIGITAL EDITIONS
Subscribe
Columns and Thought Leadership
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,

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