New York Market Overview
Office:
The number of new leases Downtown was 35% below the five-year average.Blackstone is finalizing a deal to expand its headquarters at 345 Park Avenue, upping its lease from 750,000 SF to just over 1 million SF. Blackstone extended its lease by six years to the end of 2034, approximately 55% of the 1.9M SF office building.
Two-year old Hudson Yards skyscraper is now 81% leased. Tishman Speyer signed five new lease agreements totaling 129,500 square feet at its Hudson Yards tower.
- Bloomberg extended its lease for another 11 years at 731 Lexington Avenue in the Plaza District for 947,000 sf.
- Industrious signed a 10-year deal to manage 240,000 square feet of space at 12 East 49th Street.
- Bain & Company took 235,00 sf at 22 Vanderbilt Avenue.
- Stripe subleased for 147,000 RSF 28 Liberty.
- The Archdiocese of New York leased 146,700 RSF at $45 per square foot at 488 Madison Avenue. They will pay $6.6 million annually in base rent for the lease through 2055.
- Palantir Technologies signed a new lease at 620 Sixth Avenue for 140,000 sf.
- Trade Desk is filling out the space left behind by Bain & Company in its move to 22 Vanderbilt listed at 1114 Sixth Avenue for 126,00 sf.
- Imagine Me Leadership Charter School will take 63,000 square feet at 39 Truxton Street in Brownsville.
- Kroll signed a new sublease for 48,000 sf at 1 World Trade Center.
- Sullivan & Worcester signed a new sublease at 1251 Sixth Avenue for 42,000 sf.
- Pontera Solutions signed a new lease at 20 West 34th Street for 41,000 sf.
- HSBC signed a 35,400 square-foot expansion to 300,000 square feet at 66 Hudson Boulevard, known as The Spiral.
- EvolutionIQ took 28,000 sf at 250 Hudson Street.
- Studio Museum in Harlem signed a new lease at 121 West 125th Street for 26,000 sf.
- YMCA Retirement Fund leased 25,000 sf at 1177 Sixth Avenue.
- TemPositions signed a lease for 19,000 SF at 622 Third Avenue property for a 10-year lease.
- Brighton Park Capital leased 16,000 SF for a 10-year lease at 452 Fifth Avenue.
- XR Extreme Reach leased 13,400 square feet on the 21st floor.
- Quest Partners leased 13,000 sf at 110 East 59th Street on the 36th floor.
Retail:
- Floor & Decor leased 129,000 sf at 850 Third Avenue in Sunset Park.
- Wegmans leased 58,874 sf at 1932 Broadway. The long-term lease had an asking rent of a blended $3.5 million a year.
- Premiere Pickleball leased 14,000 sf at 236 Richmond Valley Road in Tottenville.
- Maison Goyard signed a 9,000 SF lease at 699 Madison Avenue.
- I’m Donut leased 5,725 SF at 154 West 45th Street.
- Bisazza leased 4,476 SF at 130 Madison Avenue.
- Maharam leased 3,500 SF at 257 Park Avenue South.
- Chipotle leased 2,700 SF at 1730 Bedford Avenue in Crown Heights.
- PopUp Bagels leased 1,782 SF at 1457 Third Avenue.
- Van Leeuwen Ice Cream leased 1,500 SF at 136 Franklin Street in Greenpoint.
