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Office Vacancy Rates in Manhattan Reach Record Highs

Office Vacancy Rates in Manhattan Reach Record Highs

by Phil Hall | Apr 2, 2024 | Commercial Real Estate News, News/Current Events, Real Estate News, WRE News Exclusive

If anyone is looking to lease office space in Manhattan, there is no shortage of choices – two new data reports point to historically high vacancy rates in the heart of the Big Apple. Data from Colliers determined the borough’s office availability rate in the first...
Historic NYC Church Selling Air Rights to Ken Griffin

Historic NYC Church Selling Air Rights to Ken Griffin

by Phil Hall | Mar 11, 2024 | Commercial Real Estate News, News/Current Events, Real Estate News, WRE News Exclusive

A historic church in Midtown Manhattan has agreed to sell at least 150,000 square feet of its air rights to a partnership led by hedge fund executive Ken Griffin. St. Bartholomew’s Church at 325 Park Ave. has entered into the transaction with Griffin, Rudin Management...
Westfield Sued for Trying to Terminate Lease on NYC’s Fulton Center

Westfield Sued for Trying to Terminate Lease on NYC’s Fulton Center

by Phil Hall | Feb 16, 2024 | Commercial Real Estate News, News/Current Events, Real Estate News, WRE News Exclusive

The New York City Transit Authority has filed a lawsuit against Westfield Corp. to prevent it from terminating its operations at the lower Manhattan commuter hub Fulton Center less than halfway into its 20-year lease. Fulton Center currently has 68 retail tenants....
Lottery Drawing to Determine Tenancy in Manhattan Affordable Housing Development

Lottery Drawing to Determine Tenancy in Manhattan Affordable Housing Development

by Phil Hall | Dec 21, 2023 | News/Current Events, Real Estate News, U.S. Housing Market, WRE News Exclusive

Tenancy in six studio apartments within an affordable housing development in Manhattan will be decided by a lottery drawing. Hudson Companies and the New York City Department of Housing Preservation and Development announcing the housing lottery for the vacancies at...
Hits and Misses for the Real Estate Week of Dec. 11-15

Hits and Misses for the Real Estate Week of Dec. 11-15

by Phil Hall | Dec 15, 2023 | Commercial Real Estate News, Hits and Misses, News/Current Events, Real Estate News, U.S. Housing Market, WRE News Exclusive

The Federal Reserve’s mixed messaging, a music icon’s embrace of commercial real estate and a new record level of homelessness. From the wild and wooly world of real estate, here are the hits and misses for the week of Dec. 11-15. Hit: Keeping a Finger on the Pause...
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