Stephen Siegel and Scott Gottlieb

Even with a slowing office market, veteran CBRE brokers Stephen Siegel and Scott Gottlieb have continued to close deals — 2.7 million square feet of them nationwide, in fact, during the 12 months ending in March 2023. 

In and around New York City, their largest transactions have included a 186,000-square-foot renewal for CBS at 555 West 57th Street, 400,000 square feet of leases for New York State government agencies, and an 80,000-square-foot lease for Yahoo at 770 Broadway. They were also involved in helping lease 65,000 square feet across two floors for Loew’s Corporation at 9 West 57th Street.

Across the river, the pair negotiated a 142,000-square-foot renewal for Major League Baseball Network’s studios at 40 Hartz Way in Secaucus, N.J. Out in California, they nailed down a sizable, 603,000-square-foot sublease for a tech tenant (that could not be named) in San Jose. The duo also handles leasing on behalf of landlords at several office buildings, including 590 Madison Avenue, 25 Broadway, 550 Madison Avenue, 450 Park Avenue and One State Street.

As for the state of the office market, Siegel was optimistic despite the current flagging leasing numbers.

“There’s no question it’s slow,” he said. “The hangover of all the sublet space from the past two years and the uncertainty has stalled things. I think there’s going to be pent-up demand. And there’s still a lot of significant transactions pending around the city.” 

Siegel takes the longer view in terms of a further bounceback from pandemic-driven leasing lows: “It was a slower first quarter this year than last year, but I’m still optimistic about there being a recovery.”