Foreign owners don’t give a buck about concession packages

“When in Rome” appears to have gotten lost in translation when it comes to Manhattan’s office market. Foreign owners are ignoring the custom set by Manhattan’s real estate families, real estate investment trusts and private equity owners of offering pricey incentive packages to lure tenants, according to a new report from Colliers International. “Foreign owners […]

Génial! Estée Lauder renews giant space at GM Building

Estée Lauder signed a lease renewal for 220,000 square feet at the General Motors Building, landlord Boston Properties announced. The company would not comment on the rent, other than to say that it is higher than it was before. The cosmetics giant’s current deal in the building, for close to 300,000 square feet, expires in […]

Plated gobbles up 23K sf at Kaufman’s 111 West 19th Street

Meal-kit delivery service Plated signed a lease for 23,000 square feet at the Kaufman Organization’s 111 West 19th Street. Plated signed a 10-year lease for the full third floor in the eight-story, 185,000-square-foot building, the Wall Street Journal reported. The company is relocating from its current 11,000-square-foot office at 22 West 19th Street, another Kaufman […]

Data center REIT takes 22K sf at Durst’s 1133 Sixth

Equinix, a real estate investment trust focused on data centers, is taking a full floor at the Durst Organization’s 45-story Midtown office tower at 1133 Sixth Avenue, the landlord told The Real Deal. The California-based REIT is set to occupy 22,111 square feet on the sixth floor of the 1.1 million-square-foot property, between West 43rd […]

Citadel grabs short-term space at 520 Madison ahead of move to 425 Park

Ken Griffin’s Citadel hedge fund will move into one of the city’s most buzzed-about offices when L&L Holding finishes 425 Park Avenue in 2019. But in the meantime, traders gotta trade. Citadel signed a short-term sublease for about 24,000 square feet with the investment bank Jefferies at 520 Madison Avenue, and may be in the […]

WTC shuffle: Spotify finalizes deal for 378K sf at 4 WTC

Spotify, which Gov. Andrew Cuomo called a “hot, cool company,” finalized a deal for 378,000 square feet of office space at 4 World Trade Center, state officials announced on Wednesday. The Swedish-based music-streaming company was reportedly debating between One World Trade Center or 4 World Trade Center late last year. Cuomo announced on Wednesday that […]

PE firm Lone Star expands at Vornado’s 888 Seventh

Private fund manager Lone Star Funds is expanding at Vornado Realty Trust’s 888 Seventh Avenue, more than doubling its footprint from 22,000 to 50,000 square feet. The Texas-based private equity firm would pay in the $80s per square foot for its space in the 47-story building. CBRE’s Harly Stevens represented the tenant and Vornado’s Jared […]

Adam Leitman Bailey scores new Downtown digs

Adam Leitman Bailey, a real estate attorney who has been characterized as “public enemy No. 1 for developers,” is relocating his Downtown office to a space more than double the size of his current digs. Bailey’s eponymous firm inked a deal to sublease 26,000 square feet from the law firm Hughes Hubbard & Reed at […]

Compass inks deal for UWS office, its third in Manhattan

Compass is headed due north to the Upper West Side. The venture capital-backed brokerage firm has inked a 10-year deal for its third Manhattan office location at the Laureate, at 2150 Broadway, a company spokesperson told The Real Deal. The 8,725-square-foot location, on the second floor of the Stahl Organization-developed condo tower, will be the […]

Major League Baseball scores Midtown South sublease for digital team

Major League Baseball is enjoying a must-watch World Series in Cleveland and Chicago. Here in New York City, MLB continues to make plays, too. Fresh off finalizing its lease for a new 400,000-square-foot headquarters on Sixth Avenue, the league took two floors of sublease space from Twitter in Midtown South for its digital arm MLB […]