Lease Beat

Publicis Re-Ups and Expands Half-Million-Plus Square Foot Lease

Publicis is taking an extra 100,000 square feet at 1675 Broadway.

Publicis Groupe, the global ad giant, has added another 100,000 square feet of space to the already enormous 480,000-square-foot lease that it is renewing at the Rudin family’s 1675 Broadway at West 52nd Street, according to a news release from Rudin Management.

First reported in The New York Post, the 580,000-square-foot deal—which goes through 2031—is the largest one closed so far in the Manhattan office market in 2015. Read More

Real Estate and Politics

TRIA Expiration Sparks SOS From Real Estate Community

TRIA guarantees the federal government will pay a portion of the losses from an act of terrorism causing more than $100 million in damages. (Photo by Cem Ozdel/Anadolu Agency/Getty Images)

With the Terrorism Risk Insurance Act now one week expired and still on the table, many in the real estate business say the financial impacts pose a growing threat to future commercial activity and the U.S. economy as a whole.

Even as the House moves toward a vote to reauthorize the federal program through Congress’ fast-track process, possibly today, the uncertainty of the law’s future has fueled anxiety in several fields tied to real estate. Among the potential setbacks are higher insurance costs and heavily reduced terrorism coverage, lost jobs, stalled real estate deals, widespread defaults and less available credit going forward, property owners and industry watchdogs told Commercial Observer. Read More

Lease Beat

Norwegian Architecture Firm Grabs 80 Pine Lease

80 Pine Street

Norway-based architecture firm Snøhetta will move its New York City offices to the Rudin family’s 80 Pine Street in the Financial District, the landlord announced this morning.

The architecture company, whose first New York City project was the National September 11 Memorial Museum Pavillion at the World Trade Center site, will relocate from 25 Broadway to a segment of the 10th floor of the 38-story structure in 2015, representatives for Rudin said. Snøhetta booked a 10-year, 19,321-square-foot lease, according to Rudin’s release. Read More

Lease Beat

SeniorBridge Family Companies Renews, Expands at 845 Third

845 Third Avenue. (PropertyShark)

Eldercare organization SeniorBridge Family Companies has signed a five-year renewal and expansion at 845 Third Avenue. The lease is just one in a series of recent deals totaling close to 70,000 square feet at the Rudin Management property.

SeniorBridge currently occupies the entire 17,508-square-foot seventh floor of the building and has expanded to take an additional 7,787-square-foot portion of the 11th floor, bringing the company’s overall footprint to 25,295 square feet. Read More

Mortgage Observer

State Farm Lends on Rudin Management’s 1 Battery Park Plaza

1 Battery Park Plaza

Like a good neighbor, State Farm is there—especially for high-profile borrowers in Manhattan.

State Farm Realty Mortgage originated a $35 million second tranche as part of a total $110 million loan on the Rudin Family’s office tower at 1 Battery Park Plaza, public records show. The recent financing closed on April 1, following a $75 million first mortgage from State Farm on the 36-story property, which closed in April 2013. Read More

REBNY 2014

The Rudin Way

Bill Rudin

Bill Rudin sits at the helm of one of the largest privately owned real estate companies in the city. Like much of the Real Estate Board of New York community, in addition to his firm’s undertakings, he often puts at the top of his agenda initiatives that might not always show immediate results but which are essential for the future success of the city. Mr. Rudin, a REBNY vice chairperson, spoke to The Commercial Observer about his current projects, REBNY, major real estate happenings over the last year and what needs to be done to keep New York City competitive. Read More

Masters of Real Estate

Developers Optimistic at 5th Annual Masters of Real Estate Conference Despite Political Uncertainty

The New York Observer- Masters of Real Estate

There’s “something major” happening in every submarket in the city, but will gridlock in Washington and the impending mayoral election thrust the city back into recession – or even into a backdrop of crime and bankruptcy reminiscent of the 1970’s?

Not a chance, said a group of the city’s top real estate developers at Observer Read More

Lease Beat

Law Firm Signs Huge Renewal Downtown

One Battery Park Plaza

Hughes, Hubbard & Reed has signed a 226,416-square-foot lease at Rudin Management Company’s One Battery Park Plaza – one of the largest Lower Manhattan deals of the year, which follows a surge in demand for big blocks of space.

The international law firm’s 20-year lease spans nearly 11 floors, comprising floors 10 through 18, a Read More

Tech and the City

Bill Rudin Among Leaders of Downtown Alliance Tech Initiative

Screen shot 2013-09-17 at 3.03.56 PM

The Downtown Alliance has announced LaunchLM, a city-backed initiative aimed at bringing together tech innovators below Chambers Street.

Mayor Michael Bloomberg introduced the endeavor, which will be advised by a group of leaders including Rudin Management’s Bill Rudin, during a speech last week on New York City’s post-9/11 renewal.

“This new initiative will advance the tech community in Read More

Year in Real Estate

Above and Beyond Hurricane Sandy

East Coast Begins To Clean Up And Assess Damage From Hurricane Sandy

FEMA spokesperson William Rukeyser described the ad-hoc, jumbled feel of the company’s impromptu space in the Forest Hills Tower like a scene from a hard-hit neighborhood, with hanging wires, antennas strapped to the ceiling, Post-It notes and sheets of paper with various instructions scattered about, and impromptu folding tables holding printers and other office equipment. Most seemed at a loss for words when assessing damages.

“It’s—It’s—It’s just a mess,” Durst Organization spokesperson Jordan Barowitz told The Commercial Observer less than a week after the storm hit, struggling to describe the destruction in Lower Manhattan. Read More

Lease Beat

Bill Rudin Gets Some Talent at 41 Madison

Haven't seen this face in a while.

Nothing takes us back to that halcyon year of 1996 as does seeing the likes of Michael Ondaatje and Drew Carey in the same paragraph. In a delightful blast from the not-so-distant past, the stars’ respective talent agencies have renewed at the Rudin family’s 41 Madison Avenue.

The Gersh Agency, who, in addition to a svelter Read More

Critical Condition

Clear! Rudins Revive Village Hospital, Save Landmark

Nearly a year after St. Vincent’s closed, a hospital is returning to Greenwich Village, albeit a much smaller one. St. Vincent and North Shore-Long Island Jewish have just announced a deal that, along with developer Rudin Management, will place an emergency care facility within the O’Toole Building, the distinctive “overbite building” on the west side Read More