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October 2, 2024

Available Manhattan Office Space Hits 3-Year Low, Driven By Big Finance Leases

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New York City’s office market seems to be slowly recovering — although the supply of the best-in-class offices tenants most covet is thinning out.

Available Manhattan Office Space Hits 3-Year Low, Driven By Big Finance Leases

NYC's office market had its most active quarter since 2021, with activity up nearly 50% year-over-year, according to Savills. Tenants signed 9.3M SF of leases in Q3, with financial services firms responsible for 40% of all leasing activity.The number of large leases is increasing, data from 

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Top Broker Dustin Stolly Leaves Newmark

Top Broker Dustin Stolly Leaves Newmark

Dustin Stolly, Newmark’s co-president of debt and structured finance, left the firm on Friday. Stolly is considering his options, including breaking out on his own or joining a different firm, Commercial Observer reported.Stolly is one of the country’s…

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This Week's N.Y. Deal Sheet

A slew of some of the year's largest leases closed this week, including Vanderbilt University's expansion in the city and LVMH adding more office space close to its Madison Avenue headquarters.

TOP LEASES

This Week's N.Y. Deal Sheet

Finance automation platform Ramp has expanded its headquarters by 66K SF at Williams Equities’ 28-40 W. 23rd St., according to a release. The deal doubles Ramp’s space in the building, bringing its footprint in the property up to 132K SF. Ramp subleased its first 66K SF in…

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Frozen Regional Banks Allow Alternative Lenders To Step In With Billions To Spend

Frozen Regional Banks Allow Alternative Lenders To Step In With Billions To Spend  

While some regional banks are looking for solutions for maturing loans overflowing on their books, alternative lenders are salivating at the market opportunity opening up before them.

Global private equity and venture funds have racked up more than $2.6T of uncommitted capital, according to S&P Global. Real estate credit funds specifically raised $9.1B in the second quarter after pulling in $2.3B the prior three months, according to Preqin. Now, with a clearer view of…

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