News:
Brokerage
Posted: June 30, 2026
SL Green Realty signs Kohlberg to 18,820 s/f at 500 Park Ave.
Manhattan, NY According to SL Green Realty Corp., Kohlberg, LLC has signed a new 18,820 s/f lease covering the entire 9th floor at 500 Park Ave., bringing the property to 100% leased.
“We’re proud to welcome Kohlberg to 500 Park Ave.,” said Steven Durels, executive vice president, director of leasing and real property of SL Green.
Paul Glickman and Kristen Morgan of JLL represented Kohlberg & Co., LLC in the transaction. Frank Doyle, Cynthia Wasserberger and Michael Pallas of JLL represented SL Green Realty Corp.
Located at the corner of Park Ave. and 59th St. in the Plaza district, the 201,000 s/f building was originally designed by Skidmore, Owings & Merrill (SOM), which is also the architect overseeing the lobby redesign. Other tenants include Vera Wang, The Georgetown Co., SRL Capital Partners, Tom Ford and Friedland Properties.
“Kohlberg was drawn to 500 Park Ave. for its unmatched combination of location, architectural distinction, and the existing transformation underway. A full-floor opportunity at the corner of Park and 59th St., is exactly the kind of best-in-class environment they were looking for,” said Paul Glickman, vice chairman at JLL, who, alongside Kristen Morgan represented Kohlberg.
The building is on schedule to commence work on a new high-design lobby and redesign of all elevator cabs.
MORE FROM Brokerage
SoHo emerges as America’s most active trophy retail market as investors prioritize quality, Adirondack Capital Partners finds
Manhattan, NY Investors are increasingly concentrating capital in the country’s most coveted retail corridors, with SoHo emerging as the nation’s most active trophy retail market,
Columns and Thought Leadership
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
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
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
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
