News/Events
Carnegie Diner & Cafe Operator to Open New Restaurant at 7 Penn Plaza
Carnegie Hospitality is opening its next Carnegie Diner & Cafe in Manhattan’s Penn District. The restaurateur signed on the dotted line last month to take over fast-casual chain Smashburger’s lease at the Feil Organization’s 7 Penn Plaza, Commercial Observer has learned. The tri-party deal included a 10-year lease extension for the 5,609-square-foot retail space at…
Former Miami Beach Mayor Philip Levine Plans South Beach Office Dev
Former Miami Beach Mayor Philip Levine has filed plans to build a high-end, boutique office development in South Beach just months after the Miami Herald revealed sexual assault allegations tied to convicted sex offender Jeffrey Epstein. The plans call for the construction of an eight-story building with 37,037 square feet of office space at 930…
Italian Kitchen Manufacturer Officine Gullo to Open Store at 95 Madison Avenue
Hey now, hey now, these kitchens are what dreams are made of. Italy’s Officine Gullo, a manufacturer of luxury commercial and residential kitchens, has taken 3,200 square feet of ground-floor retail space at Sunlight Development’s 95 Madison Avenue in Manhattan’s NoMad neighborhood, Commercial Observer has learned. The 10-year lease represents Officine Gullo’s new flagship space…
David Werner Buys 49% Stake in 605 Third Avenue
David Werner is making more moves in Midtown, but this time not for a conversion. Werner, an avid buyer and redeveloper of office properties in Midtown, has acquired a 49 percent stake in 605 Third Avenue, a 43-story, 1 million-square-foot office tower he now owns in tandem with Fisher Brothers, according to a source with…
SL Green Reports High Q3 Earnings From Sales of Two Manhattan Properties
SL Green Realty recorded strong balance sheet performance during the third quarter of 2026 despite high interest rates and slower quarter-over-quarter leasing. This was mainly from the company’s disposition strategy, which generated additional cash flow. SL Green completed the August sale of 10 East 53rd Street to Jeffrey Kaplan’s Meadow Partners for $312.2 million, from…
Newmark Launches Bridge Lending Program, Finances $35M Loan for Georgia Multifamily
Newmark is now getting into the private credit game. The brokerage announced this week that it has launched a new debt and structured finance program that will provide bridge loans to multifamily assets and aims to eventually allow the firm to become an agency lender via Fannie Mae and Freddie Mac. Newmark made their first…
IT Firm Mphasis Expands by 14K SF at Rudin’s 41 Madison Avenue
Blackstone-backed information technology firm Mphasis has more than doubled its office footprint at 41 Madison Avenue to 27,709 square feet, and tacked on another decade to its tenure. The deal adds 14,151 square feet to Mphasis’ footprint at Rudin’s office tower northeast of Madison Square Park, according to the landlord. Mphasis, headquartered in Bengaluru, India,…
Nonprofit Pursuit Transformation Inks 41K-SF Lease at LIC’s the Jacx
Pursuit Transformation, a nonprofit company that trains adults in tech careers, has signed a 41,000-square-foot lease to relocate its New York City headquarters to Tishman Speyer’s the Jacx, a 700,000-square-foot office development on Jackson Avenue in Long Island City, Queens, according to tenant broker Newmark. “The Jacx provides Pursuit with an exceptional environment to support…
Tishman Speyer, Bouwinvest Launch New U.S. Office Properties Fund
Tishman Speyer and Bouwinvest Real Estate Investors are creating a joint fund to purchase top-tier office properties across the U.S., and Manhattan’s Chrysler Building was its first investment. Known as Bouwinvest-Tishman Speyer SMA, the fund will target all the major office markets in the country, as well as cities that have established a reputation for…
