Commercial
Norges Bank Investment Management to Acquire 95% Stake in NYC Office Tower for $543 Million
Norges Bank Investment Management will pay $542.6 million for its 95% ownership interest, valuing the property at a gross value of $571.1 million.
SL Green Signs Deal to Acquire 346 Madison Ave. and Adjoining Development Site for $160 Million
The acquisition of the two adjoining properties represents a strategic opportunity to create a best-in-class new building on a prominent development site in the heart of Midtown East.
Cloudbound Signs Major Retail Lease in New Rochelle
Cloudbound joins PXG Westchester and My Salon Suite at 80–110 Nardozzi Place as well as LA Fitness and Dello Russo Laser Vision at Simone Development’s adjacent 70 Nardozzi Place.
OneKey MLS, Crexi Form Strategic Partnership to Empower NY Commercial Real Estate Professionals
As part of the partnership, OneKey MLS subscribers will gain direct access to Crexi’s suite of commercial real estate tools.
Houlihan Lawrence Commercial Brokers $3.6M Sale of Retail Building in Harrison
The buyer was Dempsey Investment LP. The seller was MSB Halstead Holdings.
Six Office Buildings on Platinum Mile Trade for $37 Million
The office buildings were all built in the 1970s and early 1980s and are currently approximately 50% vacant.
Kingston Lowe’s and Sam’s Club Trade for $36.5 Million
Lowe’s and Sam’s Club are situated within the larger Hudson Valley Plaza, a 673,000-square-foot regional power center, anchored by complementary retailers such as Walmart and PetSmart, among others.
Westchester CRE Market Ended First Quarter with Mostly Increased Activity
Boasting a vacancy rate in the low 4% and uninterrupted positive trends in rental rates, fundamentals for Westchester multifamily are strong.
Brokers Predict Strong Activity for Multifamily, Industrial Markets; Troubles to Continue for Office Sector in 2024
Brokers contend that companies will be attracted to Class A-type space, while properties rated at either B or C will have trouble attracting tenants.
Orange County Partnership Officials Attend Major Semiconductor Economic Conference to Promote County as a Key Location for Investment
The Orange County Partnership attends the SEMI Industry Strategy Symposium in Half Moon Bay, CA to promote Orange County as "the bridge" between New York City and Albany, and a shovel-ready market with sites ready for major semiconductor manufacturing investment.
Manhattan Office Leasing Picked Up Steam in Fourth Quarter of 2023; NYC’s Availability Rate Rises to 20%
Leasing activity totaling 6.38 million square feet in the fourth quarter was 20% ahead of the five-year quarterly average of 5.34 million square feet.
NYSDOT to Hold Public Hearings on Jan. 17 on Route 17/I-86 Projects; Exit 122 Upgrades
The projects, when completed, will involve approximately $1 billion in upgrades to Route 17 in Orange and Sullivan counties.