Milstein’s real estate firm extends at 545 Madison Avenue

A real estate firm is staying put in Midtown, the latest in a string of Manhattan office renewals. Ogden CAP Properties, the real estate arm of the Milstein family, is renewing its lease at Marx Realty’s 545 Madison Avenue, the Commercial Observer reported. The three-year deal across four floors spans 42,000 square feet and runs through 2027. Asking rents at the building range from $84 to $101 per square foot. Ogden moved into the office

The post Milstein’s real estate firm extends at 545 Madison Avenue appeared first on The Real Deal New York.

Tory Burch staying put at Savitt’s 11 West 19th Street

If the shoe fits, keep leasing it. Women’s fashion designer Tory Burch is enjoying the fit at Savitt Partners’ 11 West 19th Street, renewing its 130,000-square-foot space for 13 years, the Commercial Observer reported. The asking rent at the Flatiron District headquarters was $72 per square foot. Tory Burch has called the top five floors of the 11-story building its headquarters for more than a decade. Savitt’s Brian Neugeboren expressed optimism about the message the

The post Tory Burch staying put at Savitt’s 11 West 19th Street appeared first on The Real Deal New York.

Teitelbaum slaps Sharpton with legal notice at Harlem HQ

Rarely has a lease renewal been so tense. Al Sharpton wants a new deal for his nonprofit, the National Action Network, at 106 West 145th Street in Harlem. The New York Post reported Sharpton and NAN were on the receiving end of a legal notice from landlord Lenox By the Bridge LLC over rent payments and the lease for the space. A lawyer for the LLC that owns the building said it was working with

The post Teitelbaum slaps Sharpton with legal notice at Harlem HQ appeared first on The Real Deal New York.

PR giant Edelman renews massive space at Resnick’s 250 Hudson Street

In-person work is getting positive spin from a major public relations firm’s latest deal. Edelman is renewing its 173,000-square-foot office space at Jack Resnick & Sons’ 250 Hudson Street, the New York Post reported. Financial terms of the lease were not disclosed, but the renewal is for 15 years. Edelman’s space spans roughly half the 341,000-square-foot property. The firm has been at the Hudson Square office building since 2009, which is when the former printing

The post PR giant Edelman renews massive space at Resnick’s 250 Hudson Street appeared first on The Real Deal New York.

RXR sues insurers over infectious disease coverage

RXR Realty was prepared for the pandemic, but its insurers weren’t, and now it says it’s owed over $60 million. In a lawsuit filed in state Supreme Court this week, Scott Rechler’s RXR alleges seven insurance providers denied its claims for business interruption coverage due to public health emergencies, despite the firm having purchased “all-risk” policies, Bisnow reported. RXR is seeking more than $61 million in damages for losses the commercial real estate giant incurred

The post RXR sues insurers over infectious disease coverage appeared first on The Real Deal New York.

Want to join Safra’s private club at GM Building? It’ll cost you $125K

If WeWork isn’t luxurious enough, Edmond Safra has an alternative. Safra and restaurateur Juan Santa Cruz are taking the 37th floor of Boston Properties’ GM Building for its private club, known as Colette. Bloomberg reported the club will open in March as a co-working space for the rich. The hedge funder has an ownership stake in the GM Building, likely a big help for securing the space. Those wanting the luxury office space better be

The post Want to join Safra’s private club at GM Building? It’ll cost you $125K appeared first on The Real Deal New York.

Capital One ups deposit at L&L’s 114 Fifth Avenue

What’s in your wallet? For Capital One, it’s more office space in New York City. The bank expanded to 117,000 square feet at 114 Fifth Avenue in the Flatiron District, Bloomberg reported. The bank is expanding across three floors at the property, bringing its total footprint to about a third of the L&L Holding Company building. Capital One planted its flag at the property in 2015, signing a lease for slightly fewer than 40,000 square

The post Capital One ups deposit at L&L’s 114 Fifth Avenue appeared first on The Real Deal New York.

Youngest female unicorn CEO moves startup to Moinian’s 60 Madison Avenue

The growing health care company Spring Health has signed a lease for about 30,000 square feet at the Moinian Group’s 60 Madison Avenue. The seven-year deal encompasses the entire second and most of the third floor at the property, which faces Madison Square Park in Nomad. As a sweetener, the agreement enabled the startup to move into a furnished 12,000 square feet on the 21st floor of 245 Fifth Avenue — a Moinian and Thor

The post Youngest female unicorn CEO moves startup to Moinian’s 60 Madison Avenue appeared first on The Real Deal New York.

Manhattan office leasing has best month since pandemic hit

Midtown is having a moment. Available office space in Manhattan’s central business district dwindled for the fifth straight month, an encouraging sign for landlords after a painful period of surplus, according to a Colliers’ report of July leasing activity. That helped Manhattan as a whole fill more office space than in any month since January 2020. “Midtown’s ability to attract tenants is notable,” said Franklin Wallach, director of research at Colliers. “It really had its

The post Manhattan office leasing has best month since pandemic hit appeared first on The Real Deal New York.

Rudin’s Dock 72 signs design firm for 71K sf

The tide is picking up at Rudin Management’s Dock 72 after a notable prospective tenant jumped ship. Design firm Huge signed a lease for 71,000 square feet at Rudin and Boston Properties’ Brooklyn Navy Yard development, the New York Post reported. The company will be occupying the top two office floors of the property. Huge is relocating from an office on Main Street in Dumbo and plans to use its space “more like a clubhouse”

The post Rudin’s Dock 72 signs design firm for 71K sf appeared first on The Real Deal New York.