It’s Christmas day for Foursquare! Except in place of being visited by Ol’ St. Nick, the location-based social networking phenom was visited by a fast-working team of architects and builders, leaving them with their brand new office space at 568 Broadway.
And a federal holiday couldn’t keep Foursquare’s 80-plus team away from their new Read More
“I’m more bullish today than I was in 2007,” said Cushman & Wakefield’s Tara Stacom of 1 World Trade and the outlook for the 1,776-foot tower that will offer 3.1 million square feet of Class A office space. “I did not think one of the first tenants would be a million-plus feet.”
Signing the lease with Condé Nast in May of this year was, for lack of a less hackneyed term, a game-changer for downtown Manhattan, especially as the area emerges not only from the Great Recession but from the malaise that characterized so much of the area since 9/11. Read More
God bless the Silicon Alley trend piece. We’ve done one (and then another about a colony of the alley); and, incidentally, we cover the industry regularly every day here. No matter how much ink is proverbially spilled in deference to the tech industry’s growth, we as New York reporters can’t seem to get enough of the nerds-are-among-us-and-they-need-space-to-work angle. Read More
The International Business Times inherited the old Newsweek newsroom at 7 Hanover Square over the weekend.
A general interest global business news site, IBT has flown under the radar since their launch five years ago. But perhaps not for long. Executive editor Jonathan Davis pointed out that the space is far too big for their staff of roughly 50 reporters, suggesting a hiring spree is on the way. (What warms a new office better?) Read More
On the heels of learning that trophy towers are once more commanding three-figure rents, we learn that big chunks of space, once tut-tutted amid the Great Recession’s layoffs, are getting long looks again by tenants. Read More
Apparently The Observer‘s old space wasn’t good enough for lefty rag The Guardian—they’re now close to signing a lease at 536 Broadway, according to Real Estate Weekly.
Although the American website of the British newspaper previously considered leasing the old Observer space at 915 Broadway in the Flatiron, it’s now heading downtown to the corner of Broadway and Spring Street to look at a smaller space that’s between 8,000 and 9,000 square feet. Read More
Even as Manhattan’s commercial real estate rebounds from the economic collapse at a much faster clip than the rest of the country, steep pricing has also caused tenants to flee to North Jersey, which this week tallied its highest first-quarter office-leasing velocity since the height of the market in 2007.
Indeed, according to a quarterly Read More
Morrison & Foerster, the San Francisco-based law firm with the off-kilter nickname, has signed a letter of intent for 200,000 square feet at 250 West 55th Street, the office tower started by Mort Zuckerman’s Boston Properties but later capped at its foundation after previous anchor-tenant deals fell apart amid a chilly construction-financing market.
The move makes sense Read More
According to CB Richard Ellis, New York is projected to have the country’s second highest office rent growth in 2011, behind San Francisco.
CBRE noted that office rents were expected to grow for the first time in three years nationwide, though only modestly and that growth would be “limited to key markets,” before a more Read More
When Bloomberg sailed into Wells Fargo’s chosen space at 120 Park Avenue, industry insiders were shaken by the switch. Now Crain’s reports that even Wells Fargo thought they had the space nailed:
“A few weeks ago, [senior vice president John] Saclarides got a call from the landlord telling him that the bank was being bumped Read More
Not only did we just fall behind D.C. in commercial real estate pricing recovery, but now we’re behind Rio as the second most expensive office market in the Americas.
An annual report, released by Cushman & Wakefield today, revealed that while South America, and Brazil in general, has skyrocketing office occupancy costs (rent, Read More
The ranking of the five most expensive markets for office space—London, Hong Kong, Tokyo, Mumbai and Moscow—remained unchanged over the last year, according to CB Richard Ellis’ semi-annual survey. Office occupancy costs are down 1.3 percent year-over-year in the 175 biggest markets.
The most expensive office market in the world remain’s London’s West End, where Read More
