Year in Real Estate
CBRE tristate Chief Executive Officer Mary Ann Tighe is a legend in New York’s voracious real estate world. Winner of multiple Deal of the Year awards and a 2009 REBNY lifetime achievement award, Ms. Tighe has conquered every peak in her nearly 30 years in the industry, rising to an almost mythic status among the Read More
Just when New York’s traditional geographic dividing lines were beginning to seem quaint, Hurricane Sandy made landfall and brought them back to light.
Downtown, which over the years had become harder and harder to distinguish from uptown, was plunged into darkness, sending the relatively young and vaguely creative well above 14th Street nosebleed territory in search of power. Only the Brooklyn side of the Williamsburg Bridge stayed illuminated, a stark metaphor for the borough’s slow transformation into a contender.
But in commercial real estate, boundaries continued to disappear. In January, Condé Nast expanded its 1.05-million-square-foot lease at 1 World Trade Center by 138,773 square feet, helping lower Manhattan shed its stodgy finance-centric reputation and prompting slight panic among the owners of Midtown media canteens like Michael’s.