events, news, crypto
While some firms are delaying their office projects, Cove Property Group has decided to make its Hudson Yards tower bigger. Cove filed plans for a 34-story, 535-foot building at 413 Ninth Avenue, estimating construction costs at $179 million. The firm had filed plans in April for a 31-story, 178,000-square-foot office and retail building at the […]
The post Cove enlarges Hudson Yards office project 61% appeared first on The Real Deal.
Manhattan has a lot more room for housing, if the government would let someone build it. A report from Manhattan Borough President Mark Levine identifies development sites that could produce 73,000 apartments. It’s not an exhaustive list, but focuses on parcels that require public action to allow for residential projects. The 171 opportunities run the gamut, from an air rights transfer to allow 9,000 homes to small lots that would yield just six apartments as-of-right.
The post Manhattan pol lists 171 development sites, and TRD maps them appeared first on The Real Deal New York.
Last year was one of reckoning for Manhattan’s office market. After an underwhelming post-Labor Day return to the office, workspace occupancy remained below where many of the city’s landlords would like it to be. Leasing activity ground to a halt at the end of the year, with fourth-quarter figures down 43 percent from a year earlier. Still, there were bright spots, particularly for owners of new construction projects. Brookfield’s Two Manhattan West, SL Green Realty’s
The post Murdoch’s 6th Ave deal tops Manhattan’s most valuable office leases of 2022 appeared first on The Real Deal New York.
KKR’s massive footprint at Related Companies’ 30 Hudson Yards is about to get a lot bigger. The private equity firm is taking another 220,000 square feet set to be left behind by Facebook parent Meta Platforms, sources familiar with the deal confirmed to The Real Deal. The lease was first reported by Bloomberg. KKR already occupies more than 300,000 square feet on 30 Hudson Yards’ top 10 floors and in 2021 bought a majority stake
The post KKR takes over Meta’s large 30 Hudson Yards space appeared first on The Real Deal New York.
Not all community boards support more housing in their neighborhoods. Manhattan Community Board 4 is out to prove it isn’t like all community boards. The board on Thursday unveiled a plan calling for 23,000 more homes within its borders on the West Side, the New York Times reported. It includes 1,400 affordable homes in the district, stretching from West 14th Street to Columbus Circle. The board has no power or funding to implement such a
The post Meet the community board calling for more housing appeared first on The Real Deal New York.
A law firm is headed for Brookfield Properties’ Two Manhattan West. Crowell & Moring leased 71,000 square feet at the Hudson Yards development, the New York Post reported. The firm is moving to the still-unopened property from 590 Madison Avenue, also known as the IBM Building. While IBM is the largest tenant at its eponymous building, the departing law firm accounted for the largest share of total base rent at the property, as of a
The post Law firm leases 71K sf at Brookfield’s Two Manhattan West appeared first on The Real Deal New York.
Related Companies detailed its big plans for the next phase of Hudson Yards development as part of its casino bid. The firm’s casino proposal for the western portion of its $25 billion project on the west side of Manhattan, centers around a 1,500-room resort, CEO Jeff Blau told Bloomberg TV. Related is partnering with Wynn Resorts on the casino bid. In addition to the casino and resort, the developer’s plans for the area include a
The post Related proposes 1,500-room resort in Hudson Yards casino bid appeared first on The Real Deal New York.
When 175 Park Avenue is complete, it will rise 1,575 feet, second only to One World Trade Center among New York City’s tallest towers. It is a statement in more ways than one: As companies shrink their office footprints and reduce headcount, developers RXR and TF Cornerstone remain confident that the quality of their project and its location beside Grand Central Terminal will fill its 2.1 million square feet of office space. “It checks every
The post Who’s crazy enough to build office? appeared first on The Real Deal New York.
Meta’s expensive plan to shed office space includes declining lease renewals at two Hudson Yards properties. The parent company of Facebook plans to return space at 30 and 55 Hudson Yards to Related Companies, Bloomberg reported. The two spaces span roughly 250,000 square feet and the leases run through 2024. Meta isn’t distancing itself from its third Hudson Yards office yet. Most of the company’s space in the district is at 50 Hudson Yards. While
The post Meta to cut Hudson Yards office space appeared first on The Real Deal New York.
Undeterred by an ambiguous future and declining rents, Related Companies is intent on adding more office space to New York City’s central business district: more than 1 million square feet of it, to be exact. Stephen Ross’ firm last month filed plans for a 1.3 million-square-foot office tower at 514 West 36th Street in Hudson Yards, directly across the street from 66 Hudson Boulevard, where Tishman Speyer is putting the finishing touches on its own
The post Mapping out the explosion of commercial development in Hudson Yards appeared first on The Real Deal New York.