Don't see images? Click Here SUBSCRIBE FOR FREE MANAGE EMAIL PREFERENCES
Bisnow - (Almost) Never Boring
August 22, 2023

This Week’s N.Y. Deal Sheet

Stephanie Wiggins Of PGIM Discusses Lending Strategies To Help Get Deals To The Finish Line Sept. 14

This week saw an uptick in leases signed in New York City — although no huge deals — but sales and financing activity slowed to a near halt as the summer doldrums hit their peak.

TOP LEASES

This Week’s N.Y. Deal Sheet

Gaedeke Group’s 44 Wall St. signed leases totaling 19K SF this week, according to a release. The Cities for Financial Empowerment Fund, which tests financial strategies with municipalities, took 12K SF in the property. The fund originally took just shy of 6K SF in 2015, so the new 10-year lease represents…

Read the full story here.

  Share:  
 
Perforation

Top Stories on Bisnow.com

CBRE Enters The AI Arms Race, Provides Nexus-AI At 20,000 Facilities CBRE Enters The AI Arms Race, Provides Nexus-AI At 20,000 Facilities
JLL Global Hotels CEO To Depart JLL Global Hotels CEO To Depart
Nursing Homes Disappearing Nationwide, Down 600 Facilities In 6 Years Nursing Homes Disappearing Nationwide, Down 600 Facilities In 6 Years
Life Sciences Lab Owners Tap New Tenant Source: Ascendant Clean Tech Companies Life Sciences Lab Owners Tap New Tenant Source: Ascendant Clean Tech Companies
Perforation

2 Of Thor Equities' Manhattan Properties Placed In Receivership

2 Of Thor Equities' Manhattan Properties Placed In Receivership

Thor Equities has lost control of two more pieces of its Manhattan office and retail portfolio.The Joe Sitt-owned real estate firm was ordered by a judge this summer to place 597 Fifth Ave. and 3 East 48th St., two adjacent commercial…

Read the full story here.

  Share:  
 
Perforation

Can Michael Shvo Fill The Transamerica Pyramid By Doubling Its Rent? He's Betting $1B On It

Can Michael Shvo Fill The Transamerica Pyramid By Doubling Its Rent? He's Betting $1B On It  

The Transamerica Pyramid is one of a handful of emblems of San Francisco, its unmistakable apex poking through the city’s trademark fog to set the skyline apart from any other in the U.S.

It’s also an aging building in a downtown hollowed out by a pandemic and subsequent remote work revolution that has sapped interest in older towers in cities across the country.

That hasn't dimmed the ambitions of New York developer Michael Shvo, who is gambling that by bringing luxury to the icon, inviting the public inside — and asking tenants for double its previous rents — he can rewrite the narrative around San Francisco's office market.

“The Transamerica Pyramid is today the third-most-expensive building to rent an office in, in the country, and the other two are in New York City,” Shvo told Bisnow in an interview. “There is a tremendous amount of demand for super high-end, super unique real estate.” The 48-story, 853-foot pyramid, featuring…

Read Full Story

  Share:  
Perforation

In Case You Missed It...

Lender Looks To Foreclose On Tin Pan Alley Landmarks Owned By Family Of Yair Levy Lender Looks To Foreclose On Tin Pan Alley Landmarks Owned By Family Of Yair Levy
Judge Issues New Block On New York's Cannabis Retail License Program, Leaving Industry 'Disheartened' Judge Issues New Block On New York's Cannabis Retail License Program, Leaving Industry 'Disheartened'
SL Green Takes Over Madison Avenue Office Tower From Ashkenazy After Lengthy Battle SL Green Takes Over Madison Avenue Office Tower From Ashkenazy After Lengthy Battle
New York City Launches New Office-To-Resi Accelerator, Plan To Rezone Midtown New York City Launches New Office-To-Resi Accelerator, Plan To Rezone Midtown
Capital One Selling $1B NYC Office Loan Portfolio To Fortress Capital One Selling $1B NYC Office Loan Portfolio To Fortress
 
 
 
BISNOW
 
       
 
You are receiving this email because you are either a member of the Bisnow community, have attended a Bisnow event, because you have a legitimate interest in real estate news and events because of your profession, or because of your business associations, memberships or partnerships.
 
This email was sent to: newsletter.archives@bisnow.com
 
   
 
123 William St, Suite 1505, New York NY 10038
Newsletter Approval Code: 70018