Lease Beat

Greek Yogurt Company Relocating to Larger Space in Soho [Updated]

200 Lafayette Street.

Chobani, which is headquartered in upstate New York, is moving to larger digs in Soho, the New York Post reported, although the size of the space for the Chobani corporate offices will remain the same, a Chobani spokesman told Commercial Observer.

The popular yogurt company has leased 33,560 square feet on the sixth and seventh floors at General Growth Properties200 Lafayette Street between Broome and Spring Streets. Chobani will be assuming space—the top two floors—that JCPenney had occupied. In May 2012, the department store had leased the entire office portion of the building in a 15-year deal, the Post previously reported. Read More


Sunshine by the Square Foot

Aerial Photographs of New York City - Archive Images

While it did not rival what some recalled as a “blistering” second quarter, the Manhattan commercial real estate office market continued to gain momentum in the third quarter, and most real estate observers took the growth as a sign of more to come.

Positive absorption and rising rents throughout Manhattan are on track to rain in a strong end to the year, as Midtown remained steady, Midtown South shined, and Downtown turned heads.

Read More

Sales Beat

CIM Group Pays $104 M. for 5 Hanover Square


An affiliate of Los Angeles-based CIM Group has purchased 5 Hanover Square from Savanna’s The Savanna Fund II REIT for $104 million.

The 25-story, 330,000-square-foot building, located on the northern side of Hanover Square, between Pearl and Beaver Streets in Manhattan’s Financial District, also contains roughly 7,500 square feet of retail on the ground floor. Read More

Sales Beat

CIM Group Scoops 225 Fifth Avenue in the Flatiron District for $78 M.

(Credit: CIM Group)

Los Angeles-based real estate investment firm CIM Group has closed on its purchase of the retail portion of 225 Fifth Avenue in the Flatiron District for more than $78 million, city records show.

The retail property consists of two parcels totaling 40,079 square feet and is currently 100 percent leased to a number of long-term tenants including JP Morgan Chase, 24 Hour Fitness, Verizon Wireless, and United States Postal Service. Read More


200 Lafayette Street Slideshow

5 Photos

Conference Room

Kushner Companies unveiled plans this week to turn 200 Lafayette Street into what officials there believe will be one of Midtown South’s most coveted office addresses.

 Mr. Kushner, a principal of the large real estate investment company Kushner Companies (and owner of both The Commercial Observer and The New York Observer), bought the roughly 150,000-square-foot building in partnership with the CIM Group in January for approximately $50 million. Mr. Kushner plans to pump significant capital to restore the over 100-year-old building’s classic aesthetic while refurbishing its space to house modern amenities and infrastructure. After a jump, a tour of the building through renderings obtained exclusively by The Commercial Observer. Read More