Cover Story

The Landlord’s Market: Midtown South’s Uphill Climb

Gas Odor Investigated In New York City

Midtown South is starting to look a little like Downtown North.

In the latest sign of the evolution of Manhattan’s former no-man’s land between Midtown and Downtown into the hottest office submarket in the U.S., Cushman & Wakefield last week noted a migration of financial firms into Midtown South and a corresponding overflow of technology and media firms into the Financial District over the past 10 years.

“We’ve never seen such an intertwining of the Midtown South market and Downtown,” Andrew Peretz, executive vice president at C&W, said in an interview. Read More

Lease Beat

Syracuse University Barrels into Midtown South with 20,000 SF Lease

136 Madison Avenue

As the city braces for its next snowstorm, Syracuse University is barreling from snow-coated Syracuse, New York towards Midtown South, where it will stomp a 20,000-square-foot footprint at 136 Madison Avenue.

The university plans to use the second floor of the 17-story, 150,000-square foot art deco building as a hub for academic programs and internship opportunities that will compliment alumni activities already housed at its Lubin House on East 61st Street, said a source familiar with the deal.

The Lubin House serves as the university’s regional admissions office, a gathering place for visiting faculty and alumni, and home to discussion panels, an art gallery and a division of its drama school. Read More

Prebuilt Building Out in Manhattan

The ground floor business lounge at 747 Third Avenue. (photo courtesy of Regus)

Regus announced plans to expand its prebuilt office space footprint in Manhattan with four new locations slated for leasing in the coming year. The Luxembourg-based company has 60 such business centers in the tristate area, 26 of which are in New York City.

New locations include 23,000 square feet at 747 Third Avenue, two floors Read More