News: Brokerage

SL Green renews 14,206 s/f for Offit Capital Advisors

Steven Durels, SL Green Steven Durels, SL Green
New York, NY According to SL Green Realty Corp., Offit Capital Advisors, LLC, an employee-owned  investment manager focused on advising high net worth individuals, has renewed its lease for 10 years covering 14,206 s/f on the entire 24th floor of 485 Lexington Ave. a/k/a Grand Central Sq., the 31-story, 921,370 s/f building located two blocks from Grand Central Terminal. “We are delighted that Offit Capital has elected to extend its occupancy with us,” said Steven Durels, executive vice president, director of leasing and real property for SL Green, who added that “leasing momentum in Midtown east and particularly in the Grand Central submarket has remained very strong this year.” Other prestigious building tenants include Travelers Indemnity Company, The Leading Hotels of the World, Fidelity National Title Insurance, Konica Minolta, Novantas and KPS Capital. Larry Zuckerman of Newmark Grubb Knight Frank represented Offit Capital, while Natasha Brown acted in-house on behalf of SL Green.
READ ON THE GO
DIGITAL EDITIONS
Subscribe
Columns and Thought Leadership
Strategic pause - by Shallini Mehra and Chirag Doshi

Strategic pause - by Shallini Mehra and Chirag Doshi

Many investors are in a period of strategic pause as New York City’s mayoral race approaches. A major inflection point came with the Democratic primary victory of Zohran Mamdani, a staunch tenant advocate, with a progressive housing platform which supports rent freezes for rent
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,

AI comes to public relations, but be cautious, experts say - by Harry Zlokower

AI comes to public relations, but be cautious, experts say - by Harry Zlokower

Last month Bisnow scheduled the New York AI & Technology cocktail event on commercial real estate, moderated by Tal Kerret, president, Silverstein Properties, and including tech officers from Rudin Management, Silverstein Properties, structural engineering company Thornton Tomasetti and the founder of Overlay Capital Build,