News/Events
Selldorf Architects Renews 14K-SF 860 Broadway Lease for 10 Years
Architecture firm Selldorf Architects has renewed its 10-year, 13,815-square-foot lease at Gordon Property Group’s 860 Broadway. Selldorf has called the Flatiron District’s 860 Broadway home for the last two decades, according to landlord brokerage Colliers. The asking rent was not disclosed. However, the average asking rent for office space in Midtown South was $79.41 per…
Valley National Bank Provides $30M Value-Add Refi for Park Towers in Miami
Moshe Popack’s YMP Real Estate Management has secured $30 million to refinance Park Towers, a 210-unit multifamily complex in Miami, Commercial Observer can first report. Valley National Bank provided the loan, structured at a fixed-rate of 6.09 percent, while Meridian Capital Group’s David Hayum and Michael Farkovits arranged the transaction. Meridian’s Hyum noted in a…
Document Processing Platform Extend AI Signs 9K-SF Lease at 119 Fifth Avenue
An artificial intelligence-driven document processing firm is relocating within the Flatiron District, Commercial Observer has learned Extend AI signed an 8,750-square-foot lease across the entire sixth floor of 119 Fifth Avenue in a relocation from its current offices at 135 West 29th Street, according to the brokers at Nomad Group. Nomad did not disclose the…
Tishman Speyer’s 6 Grand Central Hits the Market for Roughly $450M
Fancy adding a 770,386-square-foot trophy office property to your portfolio? You’re in luck. Tishman Speyer is marketing 6 Grand Central for sale, sources told Commercial Observer, with an asking price somewhere around $450 million. The fee simple interest in the property is being marketed by Eastdil Secured’s Gary Phillips and Will Silverman, sources said. The…
Bridge Investment Group Provides $67M Refi for Value-Add Multifamily Outside Boston
Invictus Real Estate Partners has secured $67.2 million to refinance Eliot on Ocean, a 194-unit multifamily property in Revere Beach, Mass., a coastal submarket five miles outside of Boston. Bridge Investment Group Holdings provided the debt, structured as a three-year, floating-rate loan, while a JLL Capital Markets team of Scott Aiese, Tom Sullivan and Alex…
Polymarket Bets On a Second Floor at Manhattan’s 78 Crosby Street
Predication and betting site Polymarket has doubled its footprint at 78 Crosby Street to 12,700 square feet, adding the fifth floor to the space it already leases on the fourth floor. Polymarket has been headquartered at the Lower Manhattan building since 2023. Its original lease for 6,350 square feet was also extended, with both deals…
Barry Gosin Stepping Down as Newmark’s CEO
It’s the end of an era for Newmark. Barry Gosin, the firm’s fearless leader, will step down from his CEO position on Dec. 31, the company announced Friday. Gosin has held the CEO position since 1979. The 75-year-old Gosin will segue to become chairman of Newmark & Company Real Estate, Newmark’s operating company, in order…
TPG AG, Redfearn Capital Acquire Industrial Portfolio for $628M
TPG AG U.S. Real Estate and Redfearn Capital have acquired a 5.4 million-square-foot industrial portfolio for $628 million, Commercial Observer can first report. The seller was DRA Advisors, while BDT & MSD Partners provided a $479 million loan in the deal, sources said. The 53-building portfolio, which is roughly 87 percent occupied, includes both logistics and…
Mermaid Inn Restaurateurs Ink 2K SF at 61 West 74th Street for New Eatery
Restaurateurs Danny Abrams and Cindy Smith are making a splash on the Upper West Side. The couple and co-founders of New England-style seafood spot Mermaid Inn have selected 61 West 74th Street for their next venture, Commercial Observer has learned. Abrams secured the 2,300-square-foot lease, plus a basement space, at $130 per square foot, according…
