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“#Wegmans deal signals reawakening appetite for Manhattan leases” When huge stores such as Barneys and Century 21 stand vacant, and “for lease” signs outnumber occupied storefronts on many Manhattan blocks, any sign of a retail uptick is welcome. It isn’t to be mistaken for a boom, but the third quarter saw a desperately needed lift…
“#Real estate ‘unicorn’ Orchard Technologies moving downtown” Orchard Technologies, a newly minted “unicorn” that aims to simplify the home-selling-and-buying process, had its own odyssey finding a new home for its fast-growing business. The outcome: a welcome, 107,000 square-foot boost for the downtown office market. The four-year-old firm was working out of a 25,000-square-foot Knotel flex-space until…
“#Developer to break ground on first brand-new Dumbo office building in 100 years” Anyone can boldly announce plans for future office buildings that have no official groundbreaking dates. It’s another to actually start construction amid the lingering pandemic when the city’s overall office market continues to see record-high vacancy rates. On Sept. 14, developer Edward…
“#Manhattan’s office-leasing picture in a downturn” More from: Amid intensifying calls to convert some older Manhattan office buildings to residential — including by the influential Real Estate Board of New York — comes even more grim news about the pandemic-battered market. It’s scary to think about, but Manhattan’s office-leasing picture is worsening by the month….