News: Brokerage

Savitt Partners leases 15,025 s/f total in three transactions at its Midtown office tower 530 Seventh Ave. 

Manhattan, NY Savitt Partners (Savitt), a full service commercial real estate firm, completed three new leases, totaling 15,025 s/f, have been signed at 530 Seventh Ave., located between 38th and 39th Sts., in the Garment District. 

  • FINSIGHT signed a five-year lease for the entire 27th floor, totaling 8,800 s/f. This will serve as FINSIGHT’s New York HQ, a move from 8th Ave. The company also has offices in Hong Kong, London, and Singapore. Bob Savitt, Brian Neugeboren, Nicole Goetz of Savitt represented the landlord, while Adam Goldman and Jennifer Casey of Cushman and Wakefield represented the tenant. 
  • Carollo Engineers signed a three-year, 3,675 s/f lease. This will be the firm’s first NYC office. Neugeboren and Goetz represented the landlord while Dustin McFarland and Sean Hoffman of Savills represented the tenant. 
  • H.W. Anderson Consulting signed a three-year, 2,550 s/f lease. The pre-built space will be used as executive and administrative offices. Neugeboren and Goetz represented the landlord while Jake Cunningham of Velocity Realty represented the tenant. 

“These deals showcase that companies are still finding value in having an office footprint in Manhattan and want to expand,” said Savitt, founder and president of Savitt. “Now more than ever, tenants value a direct deal with ownership over subleases and are attracted to turnkey and customized buildouts, which is what we’re offering at 530 Seventh.”

READ ON THE GO
DIGITAL EDITIONS
Subscribe
Columns and Thought Leadership
Multi-generational multifamily owners - who’s in and who’s out - by Shallini Mehra and Amit Doshi

Multi-generational multifamily owners - who’s in and who’s out - by Shallini Mehra and Amit Doshi

Many long-time property owners are divesting from their rent stabilized properties at an increasingly rapid pace. This trend has gained momentum primarily due to the unyielding permanence of rent laws over the past six years and the increasing operating costs that continue to outstrip rent growth. In addition, the judiciary’s elongated timeline in processing evictions and tenant rent challenges,
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
Hunt commercial real estate question and answer: The total cost of relocation - by David Hunt

Hunt commercial real estate question and answer: The total cost of relocation - by David Hunt

You have a right to be concerned. I am always surprised at the companies that will negotiate the price of their new facility down to the last dollar, without thoroughly analyzing their
Artificial intelligence in lending - by Lindsay Mesh Lotito

Artificial intelligence in lending - by Lindsay Mesh Lotito

Artificial intelligence (AI) is beginning to help transform lending by enhancing decision-making, improving risk management and streamlining operations. With AI-powered tools that analyze vast amounts of data, lenders are able to assess borrower creditworthiness more accurately and efficiently. AI can evaluate a wide range of factors,