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December 1, 2020

This Week's N.Y. Deal Sheet

Two months into the fourth quarter, it's clear that commercial real estate activity has picked up in New York City as 2020 draws to a close.

TOP LEASES

This Week's N.Y. Deal Sheet

In the biggest lease of November, Travelers Insurance inked a 133K SF renewal deal at SL Green’s 485 Lexington Ave., according to Colliers’ Manhattan Monthly Snapshot report. The renewal came eight years before the lease was set to expire. The company signed the lease in 2006 for 10 years, and then opted…

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Top Stories on Bisnow.com

FTC Moves To Block CoStar Acquisition Of RentPath FTC Moves To Block CoStar Acquisition Of RentPath
Howard Lutnick's SPAC To Take Smart Glass Company View Public At $1.6B Valuation Howard Lutnick's SPAC To Take Smart Glass Company View Public At $1.6B Valuation
Online Sales Boom On Surprisingly Successful Black Friday Online Sales Boom On Surprisingly Successful Black Friday
European Hotelier Betting Big On U.S. Lifestyle Hotels Despite Pandemic European Hotelier Betting Big On U.S. Lifestyle Hotels Despite Pandemic
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Vornado Announces Layoffs, Leadership Shake-Up Amid Cost-Cutting Measures

Vornado Announces Layoffs, Leadership Shake-Up Amid Cost-Cutting Measures

Vornado is cutting dozens from its staff and making a host of changes in the C-suite as it embarks on a plan to reduce overhead by $35M each year.The real estate investment trust announced Tuesday that the company's president, Michael Franco, will take on the additional position of chief financial…

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NYC Landlords Lose Bid To Overturn Laws Protecting Commercial Tenants

NYC Landlords Lose Bid To Overturn Laws Protecting Commercial Tenants

Two landlords trying to knock down New York City pandemic laws that protect businesses that can’t pay rent have lost their challenge in federal court.A collection of laws the city council passed in May do not violate the landlords’ right to free speech and due process, U.S. District Judge of the Southern District of…

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In Case You Missed It...

'Tis Not The Season: CRE Laments Loss Of Holiday Party Circuit 'Tis Not The Season: CRE Laments Loss Of Holiday Party Circuit
Apple Adding More Space To Midtown Sublease Apple Adding More Space To Midtown Sublease
As New Yorkers Increasingly Crave More Space For Less, Real Estate Leaders Are Bullish On Brooklyn As New Yorkers Increasingly Crave More Space For Less, Real Estate Leaders Are Bullish On Brooklyn
This Week's N.Y. Deal Sheet This Week's N.Y. Deal Sheet
1,600-Foot Office And Hotel Tower Planned Next To Grand Central 1,600-Foot Office And Hotel Tower Planned Next To Grand Central
 
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Real Estate Shows How Amazon Won 2020

If you want to see what a transformative year 2020 was for Amazon’s e-commerce business, don’t just look at its share price — look at its real estate decisions. 

Black Friday shopping mall foot traffic was down 52%, according to Sensormatic Solutions, but online sales were up 22%, data from Adobe Analytics showed. COVID-19 has turbocharged the move toward online retail, and so Amazon’s real estate take-up has also accelerated dramatically. 

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