News: Brokerage

TAG 380 LLC completes a 20,208 s/f lease at 380 Madison Ave.

Butzel Long has signed a lease with TAG 380, LLC for 20,208 s/f, occupying the majority of the 22nd Floor at 380 Madison Ave. The Michigan-headquartered law firm established a New York office earlier this year with the acquisition of Hollyer Brady Barrett & Hines LLP and has experienced significant growth in just a few short months. "New York is not only a major business capital, but also a central connection between the United States and international markets, where we have a significant number of clients," said Philip Kessler, chairman of Butzel Long. "At the urging of our clients, both in New York and other parts of the world, we have made a significant commitment to establishing and growing our presence here. The new office space in the heart of midtown underscores this commitment and will support our growth as we continue to attract talented attorneys who will further enhance our practice areas and leverage our existing expertise." Brokers from CB Richard Ellis represented both sides of the deal, with Jon Zuckerman advising Butzel Long and Bruce Weinberg representing the landlord.
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REALM, DelShah Capital and A.M. Properties acquire 377,000 s/f CitySpire office condominium

Manhattan, NY REALM, in partnership with DelShah Capital and A.M. Properties, acquired  CitySpire, a 377,000 s/f office condominium comprising 24 floors within the 70-story tower at 156 W 56th St. in Midtown. Adjacent to Central Park with transit access and amenities, CitySpire is a Class A office asset located in one of the city’s most sought-after office corridors.
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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