Category : Featured

Report: $100 psf club expected to shrink this year
Deals & DealmakersFeatured

Report: $100 psf club expected to shrink this year

REW
by REW1104
In 2016, hedge fund performance has gone up 3.3 percent, a small amount that has in turn led to asking rents in trophy buildings staying stagnant, and Class A rents increasing just two percent. Jones Lang LaSalle has tracked the correlation between hedge fund performance and rental growth since 2000...
Vorea Group agrees to $350M ground lease deal for LIC site
Deals & DealmakersFeatured

Vorea Group agrees to $350M ground lease deal for LIC site

REW
by REW2037
Brooklyn development firm The Vorea Group has just signed a 99-year ground lease at 23-20 Jackson Avenue in Long Island City. The site, which is located near Court Square Park, offers 50,000 buildable square feet and 200 feet of frontage along Jackson Avenue and Pearson Street. The deal is worth...
Tenant group heading to court to protect RGB rent freeze
Deals & DealmakersFeatured

Tenant group heading to court to protect RGB rent freeze

REW
by REW1282
By Sabina Mollot A group of tenants from around the city are hoping to intervene in a lawsuit that was filed in July aimed at stopping the rent freeze authorized a month earlier by the Rent Guidelines Board. That lawsuit was filed by the Rent Stabilization Association, an organization that...
FeaturedREBNY WatchViews

Exciting time for New Yorkers as Hudson Yards takes shape

REW
by REW1061
By REBNY President John Banks Last week, we got our first look at a big and bold public landmark that’s coming soon to Manhattan’s Far West Side. Related Companies and Oxford Property Group’s’ “Vessel” was designed by Thomas Heatherwick, whose previous works include the 2012 Olympic Cauldron, Pacific Palace in...
Touch-of-a-button security technology that city dwellers want in their homes
FeaturedHeadlineResidential

Touch-of-a-button security technology that city dwellers want in their homes

REW
by REW2176
In a city where the crime rate has plummeted and neighborhoods overall have become safer, building owners and developers still aren’t taking any chances when it comes to security measures in their buildings. Though the numbers show that overall, crime has decreased significantly since the 80’s and early 90’s in...
DNB Bank moving North American headquarters to 30 Hudson Yards
Deals & DealmakersFeaturedHeadline

DNB Bank moving North American headquarters to 30 Hudson Yards

REW
by REW2715
DNB, Norway’s largest financial services group, today announced it will move its North American corporate headquarters to 30 Hudson Yards in Manhattan’s newest neighborhood. The firm has signed a lease with Related for the entire 68th floor (44,517 square feet) in 30 Hudson Yards, the site’s signature office tower. Thirty...
Asset management firm Scopia Capital expands lease at Carnegie Hall Tower
Deals & DealmakersFeatured

Asset management firm Scopia Capital expands lease at Carnegie Hall Tower

Linda O'Flanagan
by Linda O'Flanagan1498
Scopia Capital Management, a $6 billion institutional asset management company, has renewed and expanded its lease within the Carnegie Hall Tower. Scopia will occupy over 23,000 s/f on the building’s entire 33rd and 34th floors in a long term deal. Asking rents were in the mid $90s psf. A Studley...
Boston Properties to close 601 Lexington Avenue mall until 2018
Deals & DealmakersFeatured

Boston Properties to close 601 Lexington Avenue mall until 2018

REW
by REW3441
Boston Properties will close the 601 Lexington Avenue Atrium until 2018. The property, a six-story office and retail building at the base of the 59-story building, will be emptied out as it undergoes renovations. “We’ve made a decision that the end of the second quarter to take 601 Lexington Avenue’s...
Deals & DealmakersFeatured

Verizon moves into Regus co-working space at 230 Park Avenue

REW
by REW1551
The first phase of an office deal between Verizon and workspace provider Regus has rolled out in New York City. The two firms announced a deal earlier this year that would relocate Verizon employees into Regus locations in 47 cities across the US. The first move-ins happened over the summer...
FeaturedResidential

How home ownership is becoming an old man’s game

REW
by REW1496
By Sarah Mikhitarian Since the housing bubble, older Americans have been more likely to hold onto — or purchase — homes relative to younger Americans, driving up the typical age of the American homeowner. Whites continue to have the highest rate of homeownership. Even though minorities are still far behind...