Horizon Media Inks 360K SF Renewal  
   
   
 

Global media agency Horizon Media has agreed to keep its headquarters at 75 Varick St. until 2042.

 
 
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The advertising and marketing agency agreed to keep its 360K SF office at the Hudson Square Properties-owned building, where it has been since 2010, for another 17 years.

The joint venture of Trinity Church, Norges Bank Investment Management and Hines that owns the property now has one more big deal to celebrate after luring Equinox to open a 30K SF fitness center at the 1M SF building last year.

Read more about this week’s other biggest deals in NYC — including a $125M loan for Brooklyn office-to-resi conversion and a $420M recapitalization of one of Kings County's tallest buildings.

— Ciara Long and Sasha Jones

 
 

Today's Rundown

 
 

RXR Loses 340 Madison Ave. To Lender At Auction: The developer defaulted on the office tower’s $315M mortgage last year. Read more.

Paramount Group Paid Millions To Companies Controlled By CEO: The Midtown Manhattan-based office REIT splurged on its CEO’s aviation company, winery and consulting firm. Read more.

NYC Plans For Flood Protection Without Federal Funds: One of the recommendations to City Hall is to charge real estate owners a fee for operations and maintenance of infrastructure projects. Read more.

 
 

What Else Is Happening?

 
 
'Pure Chaos': Inside The CRE Fallout From DOGE's Slash And Burn Campaign 'Pure Chaos': Inside The CRE Fallout From DOGE's Slash And Burn Campaign
 
   
 
Trump Officials Announce Plan To Build Homes On Federal Land Trump Officials Announce Plan To Build Homes On Federal Land
 
   
 
Pulte Takes Top Spot In Fannie, Freddie Board Shake-Up, Adds Musk Ally Pulte Takes Top Spot In Fannie, Freddie Board Shake-Up, Adds Musk Ally
 
   
 
Steve Witkoff To Divest From CRE Firm As His White House Influence Grows Steve Witkoff To Divest From CRE Firm As His White House Influence Grows
 
   
 

The Finish Line

 
 

One casino hopeful is trying to literally get its neighbors' buy-in to give it a leg up in the race to win one of the three downstate licenses up for grabs. Bally’s is offering Bronx residents the chance to buy shares in a casino if it wins the license next to the golf course at Ferry Point, per the NY Post.

We want to know: What are the odds that an offer like this would sway you to support a casino in your neighborhood? Is this the most creative idea yet as the casino sweepstakes heats up?

The New York City Rundown is written by New York Reporters Sasha Jones and Ciara Long and edited by Deputy Managing Editor Ethan Rothstein. We’d love your feedback and news tips: sasha.jones@bisnow.com and ciara.long@bisnow.com.

 
   
 
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