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[20 Aug 2014 | One Comment | ]

The price of commercial real estate is beginning to gain ground on the value of this asset class, according to new information released in the summer 2014 issue of the RERC Real Estate Report.
The quarterly report issued yesterday (Tuesday) by Real Estate Research Corporation (RERC), predicts that, given the increased demand for commercial real estate as a safe haven in the current volatile investment environment ,and the competition for high quality assets, the will overtake property values in some situations.
Ken Riggs, president and CEO of RERC, said, “The relationship between …

Deals & Dealmakers, Office Market »

[7 May 2014 | No Comment | ]

The U.S. economic fundamentals underpinning the property markets are strong, according to a new macro report by Cassidy Turley chief economist Kevin Thorpe and Rebecca Rockey, economist.

With the harsh winter behind us, many indicators are revving up again and following the accelerating pattern observed in the latter half of 2013.
The March data revealed huge rebounds in vehicle sales, retail sales, manufacturing output and employment gains, and consensus forecasts show that healthy growth is expected to continue for the rest of 2014, with annual GDP growth still expected to reach three …

Deals & Dealmakers, Office Market »

[2 Apr 2014 | No Comment | ]

Real estate luminary as film studio leader George Kaufman helped launched a new Kaufman Arts District in Astoria, Queens, last week.
The Kaufman Arts District is bounded by 31st Street to the west, 34th Avenue to the north, Steinway Street to the east and 37th Avenue to the south.
The founding partners are Kaufman Astoria Studios, the Museum of the Moving Image and the Queens Council on the Arts.
At an official launch, City Council Majority Leader Jimmy Van Bramer was joined by Western Queens cultural leaders, and elected officials.
Anchored and surrounded by …

Office Market, Property Managers »

[20 Nov 2013 | No Comment | ]

By Michael Mullin, President, Integrated Business Systems (IBS)
November 20, 2013 – March 2014 may seem far away, with July 2015 even further out. However, for businesses running Windows XP Professional, Server 2003 or Small Business Server 2003 these dates – which represent support end-of-life for these three popular products – should already be top of mind. More specifically, this is a perfect time for IT managers to get proactive by considering options and beginning the budgeting process for their next generation of business technology.
 Of course, just because Microsoft stops supporting a …

Office Market, Opinion, Property Managers »

[4 Sep 2013 | No Comment | ]

The average amount of space per office worker globally has dropped to 150 s/f or less, from 225 s/f in 2010, according to a recent global survey conducted by CoreNet Global, a leading association of corporate real estate managers at large companies throughout the world.
The study is part of CoreNet Global’s ongoing advocacy of quality working environments and work experiences, and the group’s call to action to measure quality of life per square foot.
At the same time, companies in the survey indicated that employment levels will increase in the second …

Deals & Dealmakers, Featured, Office Market »

[30 Jul 2013 | No Comment | ]
Subleases trump traditional leases amid New York City tech boom

From social media heavy-hitters like Tumblr and Foursquare to creative content providers like BuzzFeed, Manhattan has become a veritable hotbed for technology startups, and that, in turn, has provided a boon to lessors of short-term space.

But the impact on commercial landlords hasn’t been as rosy.

According to Studley’s Insights report, “Subleases Popular Amid NYC Tech Boom,” the focus on sublease space by technology firms is creating unexpected opportunities for tenants across all industries while impeding demand for the direct office space controlled by many of Manhattan’s largest landlords.

Deals & Dealmakers, Office Market »

[19 Jun 2013 | No Comment | ]
Skyline seeing activity at 1040 6th

Skyline Developers announced two new leases at 1040 Avenue of the Americas, its signature Art Deco Class A office building.

Office Market »

[8 May 2013 | No Comment | ]

Metropolitan Real Estate, an international investment advisory firm, will be moving its New York headquarters from 135 East 57th Street to 650 Fifth Avenue, a class A office building on 52nd Street near Rockefeller Center.
The investment firm signed an 11-year lease for 11,289 s/f of office space, occupying the entire 29th floor.

Office Market »

[8 May 2013 | No Comment | ]
New media company takes pre-built floor at Macklowe’s 386 Park Ave.

William Macklowe Company has attracted a high-profile new media firm for another of its full-floor pre-built spaces at 386 Park Avenue South, the 20-story Midtown South office building undergoing repositioning.

Office Market »

[8 May 2013 | No Comment | ]
Cushman team on the case as law firm expands at Tower 56

Cushman & Wakefield announced that The Lanier Law Firm, a Houston-based company, has renewed its lease and expanded in the Tower 56 office building at 125 East 56th Street, between Park and Lexington Avenues.

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