Macquarie Signs First Lease at Fifth Avenue Office Tower Undergoing $400 Million Redevelopment

Macquarie Signs First Lease at Fifth Avenue Office Tower Undergoing $400 Million Redevelopment

Australian financial-services company Macquarie Group signed the first lease at a new Midtown Manhattan redevelopment. The office tower is being overhauled in a $400 million redevelopment by Brookfield Asset Management which purchased a long-term lease of the property from the Kushners in 2018. The deal represents a milestone for Brookfield, which launched its leasing program during one of the most challenging office markets in recent memory.

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NewYork-Presbyterian takes 75K sf at Tishman Speyer’s Spiral

New York-Presbyterian Takes 75K SF at Tishman Speyer’s Spiral

New York-Presbyterian is the latest high-profile tenant to lease space at Tishman Speyer’s The Spiral in Hudson Yards.

The medical center said Wednesday it has reached a 20-year agreement to open an Och Spine outpatient care facility at the real estate firm’s under-construction, 65-story tower overlooking the Hudson River and the High Line.

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Hedge Funds, Investment Firms Rare Bright Spot for Office Leasing

Hedge Funds, Investment Firms Rare Bright Spot for Office Leasing

Hedge funds and investment firms are embracing office space in Manhattan, unlike many other companies that are retreating, Bloomberg reported. Financial services firms, insurers, private equity, hedge funds and asset managers accounted for 35 percent of new leases in the past two years by square footage, according to Savills Research.

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Office space up for sublease back on the rise

Office Space up for Sublease Back on the Rise

In Manhattan, the amount of sublease space available is near record highs. According to Savills, more than 20.2 million square feet were available in the first quarter. That’s down from the 22 million square feet available a year ago, but well above the 13.6 million square feet up for grabs in the first quarter of 2020.

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Luxury Furniture Company Giorgetti to Open Showroom, Offices at 349 Fifth

Luxury Furniture Company Giorgetti to Open Showroom, Offices at 349 Fifth

Luxury Italian furniture company Giorgetti has leased a showroom and offices at 349 Fifth Avenue on the southeast corner of 34th Street for its first Atelier Giorgetti Manhattan.

The space encompasses the entire eighth-floor penthouse of 8,000 square feet along with exclusive access to a 4,000-square-foot roof deck. The 10-year lease had an asking rent of $75 per foot, according to online documents.

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HSBC grabs 265K SF at Tishman Speyer’s Spiral

HSBC grabs 265K SF at Tishman Speyer’s Spiral

Tishman Speyer has reeled in another high-profile tenant to its brand-new Hudson Yards tower.

HSBC has signed a 20-year lease for 265,000 square feet at the Spiral, making the soon-to-open skyscraper the new U.S. headquarters for the London-based bank. HSBC will occupy three of the building’s 65 floors and is expected to move in by January 2024.

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Brookfield puts $1.4B FiDi tower on the market

Brookfield puts $1.4B FiDi tower on the market

Brookfield Asset Management and China Investment Corporation are selling One New York Plaza, their 50-story office building in the Financial District, The Real Deal has learned.

The tower overlooking New York Harbor is 93 percent leased, according to an offering memo viewed by TRD. Its largest tenants are Morgan Stanley and the white-shoe law firm Fried Frank.

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Facebook Expands by 300K SF at 770 Broadway

Facebook Expands by 300K SF at 770 Broadway

Facebook isn’t done growing its Manhattan office presence. The social media giant signed a 300,000-square-foot lease to expand again at Vornado Realty Trust’s 770 Broadway, Bloomberg reported. It will bring Facebook’s presence to about 813,000 square feet in the property and give Facebook nearly total control of the 15-story building between East Eighth and East Ninth streets.

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