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Market Analysis: Breaking Down Manhattan’s Asking Rents
News 6 days ago
Market Analysis: Breaking Down Manhattan’s Asking Rents

Yes, its true. The Manhattan office market’s average asking rent has had a full recovery since the end of the Great Recession. Since the third...

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Manhattan represents a quarter of U.S. coworking market, report says
News 1 week ago
Manhattan represents a quarter of U.S. coworking market, report says

Manhattan controls the national market for coworking, according to a recent analysis from CBRE. About a quarter of all coworking space in the...

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Jobs in Lower Manhattan surpass pre-9/11 levels
News 1 week ago
Jobs in Lower Manhattan surpass pre-9/11 levels

The number of private-sector jobs in Lower Manhattan has surpassed employment levels of September 2001 for the first time. Employment downtown grew...

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Activists push back against Target's plans in Astoria, Elmhurst
News 1 week ago
Activists push back against Target's plans in Astoria, Elmhurst

Target has Queens in its sights, with new stores planned for Astoria and Elmhurst - but activists in both neighborhoods are waging separate battles...

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City Council to approve deal for JPMorgan Chase tower
News 2 weeks ago
City Council to approve deal for JPMorgan Chase tower

The City Council is expected to approve today a revised design for the soaring 1,400-foot office tower JPMorgan Chase plans to build on Park Avenue...

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Target heads to Washington Heights
News 2 weeks ago
Target heads to Washington Heights

Washington Heights is set to welcome a new big-box retailer next year. The retail giant Target signed a 15-year lease last week for 23,737 square...

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Tishman scraps redevelopment plan to hold on to anchor tenant
News 2 weeks ago
Tishman scraps redevelopment plan to hold on to anchor tenant

To hold onto an anchor tenant, the owner of a Midtown East building has abandoned its plans to take advantage of the neighborhood's recent rezoning...

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Head of state economic development agency will step down
News 2 weeks ago
Head of state economic development agency will step down

Gov. Andrew Cuomo's economic development czar is stepping down. Howard Zemsky, president and CEO of Empire State Development Corp., will leave his...

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Midtown South’s growing sublet supply
News 3 weeks ago
Midtown South’s growing sublet supply

For the last decade, there hasn’t been much room for office tenants looking in Midtown South. In the Manhattan market, where a 10% availability...

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Lawsuit claims landlord schemed to overcharge rent-regulated tenants
News 3 weeks ago
Lawsuit claims landlord schemed to overcharge rent-regulated tenants

A housing watchdog group has filed a class-action lawsuit against a Brooklyn landlord, accusing him of "systemic, fraudulent and unlawful...

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Rules of the opportunity zone road pave way for investors
News 1 month ago
Rules of the opportunity zone road pave way for investors

Clarifications to a Trump administration initiative that offers shelter from capital gains taxes in exchange for investment in designated...

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MassMutual heads to Park Avenue
News 1 month ago
MassMutual heads to Park Avenue

A MassMutual sales office is relocating from Fifth Avenue to 90 Park Ave. In the new lease, MassMutual took most of the 17th and 18th floors,...

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City considers demolishing and rebuilding 2 NYCHA Chelsea buildings
News 1 month ago
City considers demolishing and rebuilding 2 NYCHA Chelsea buildings

The de Blasio administration is reportedly considering a plan to demolish and rebuild parts of a New York City Housing Authority property in...

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Property of former Purdue Pharma board member on the market for $6.5M
News 1 month ago
Property of former Purdue Pharma board member on the market for $6.5M

Property owned by David A. Sackler, a former board member of Purdue Pharma and grandson of Raymond Sackler, who built the company, has hit the...

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Long Island City industrial portfolio priced at $51M
News 1 month ago
Long Island City industrial portfolio priced at $51M

A 117,500-square-foot industrial portfolio hit the market in Long Island City, with sales agent Cushman & Wakefield seeking $51 million for the...

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Far-Reaching Rent Reforms Resist Albany Consensus
News 1 month ago
Far-Reaching Rent Reforms Resist Albany Consensus

Newcomers who helped Democrats seize control of the state Senate won over voters from The Bronx to Brooklyn with bold vows to supercharge tenant...

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REBNY slams Assembly rent-regulation proposals
News 1 month ago
REBNY slams Assembly rent-regulation proposals

The Real Estate Board of New York is gearing up for a fight as a Democrat-controlled state Legislature plans reforms to the laws governing rent...

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De Blasio defends controversial $173 million price tag for affordable housing deal
News 1 month ago
De Blasio defends controversial $173 million price tag for affordable housing deal

Mayor Bill de Blasio said it "doesn't matter" if the lawyer in the city's controversial $173 million purchase of 17 apartments buildings previously...

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The rise of the robo garage
News 1 month ago
The rise of the robo garage

In 2006 Yair Goldberg was sure automated parking was about to take off. As an executive at Israeli industrial-automation firm Unitronics, he had...

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Brooklyn’s first medical-marijuana dispensary lands in Prospect Heights
News 1 month ago
Brooklyn’s first medical-marijuana dispensary lands in Prospect Heights

Brain Food 967 Bedford Ave., Brooklyn A fast-casual vegan café opened in Bedford-Stuyvesant, where it offers mostly grab-and-go options. Citiva 202...

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Big Retail Property Buyer Feels the Sting of Manhattan Slump
News 1 month ago
Big Retail Property Buyer Feels the Sting of Manhattan Slump

Joseph Sitt was one of the most aggressive investors during Manhattan's retail real-estate investment boom. Now, he's starting to feel the pinch of...

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A better home for Amazon
News 1 month ago
A better home for Amazon

Have your fill: Land could be created for a corporate campus, just as it was for Battery Park City immediately to the south. Last year I sent a...

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Project to replace Lower East Side cinema secures $67M to start construction
News 1 month ago
Project to replace Lower East Side cinema secures $67M to start construction

Plans to demolish Sunshine Cinema on the Lower East Side to make way for a boutique office building are moving forward. Developers East End Capital...

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Tommy Hilfiger becomes latest retailer to leave Fifth Avenue
News 1 month ago
Tommy Hilfiger becomes latest retailer to leave Fifth Avenue

Tommy Hilfiger has closed up shop at its Fifth Avenue flagship, the latest in a string of retailers to leave Manhattan's famed shopping district....

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540 Madison hits the market
News 1 month ago
540 Madison hits the market

Boston Properties has put 540 Madison Ave. up for sale with an expectation of reaping $300 million or more for the office tower. The large landlord...

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AT&T unit is said to plan sale of Hudson Yards stake to Related
News 1 month ago
AT&T unit is said to plan sale of Hudson Yards stake to Related

AT&T’s WarnerMedia unit agreed to sell its stake in a Hudson Yards office tower on Manhattan’s far west side to Related Cos. and partners for more...

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Airbnb tells judge it missed hosts tied to illegal NYC hotels
News 1 month ago
Airbnb tells judge it missed hosts tied to illegal NYC hotels

Airbnb Inc. said there were more hosts associated with illegal hotels in New York City than the company told a judge last year. Airbnb made the...

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Northwell Health gives back to the community it serves
News 1 month ago
Northwell Health gives back to the community it serves

As it embarks on an extensive process to rebuild anew, Lenox Hill Hospital is being guided by old principles. The Manhattan institution takes its...

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Brooklyn landlord considering facial recognition technology at rent-stabilized complex
News 1 month ago
Brooklyn landlord considering facial recognition technology at rent-stabilized complex

A Brooklyn landlord intends to install facial recognition technology at the entrance of a roughly 700-unit rent-stabilized complex, raising alarm...

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The Biggest Loser: Amazon or New York?
News 1 month ago
The Biggest Loser: Amazon or New York?

On a recent Friday my wife and I ventured out of Manhattan to meet friends for dinner in Long Island City. Being a tri-state real estate...

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