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October 12, 2021

This Week's N.Y. Deal Sheet

[In-Person] Hear from Brookfield on the brand-new One Manhattan West Oct. 21

Several large office leases — including a major consolidation and a major expansion — closed in New York City last week as the office market continues its slow recovery.

TOP LEASES

This Week's N.Y. Deal Sheet

Proptech company Orchard Technologies inked a 107K SF lease at 195 Broadway, four times the size of its previous office, which was in a coworking space. The deal came with significant free rent concessions, the New York Post reported, with asking rent below $60 per SF.…

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Top Stories on Bisnow.com

CBRE Adjusts Hotel Industry Forecast As 2022 Corporate Travel Budgets Come Into Focus CBRE Adjusts Hotel Industry Forecast As 2022 Corporate Travel Budgets Come Into Focus
Workers Back At The Office At Highest Rate Since Pandemic Began Workers Back At The Office At Highest Rate Since Pandemic Began
More Chinese Developers Nearing Bond Defaults As Evergrande Contagion Spreads More Chinese Developers Nearing Bond Defaults As Evergrande Contagion Spreads
Activist Investor Pushes For Healthcare Trust Of America To Sell Itself Activist Investor Pushes For Healthcare Trust Of America To Sell Itself
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Fashion-Forward Madison Avenue Starting To Catch Up In Retail's Recovery

Fashion-Forward Madison Avenue Starting To Catch Up In Retail's Recovery

Shifting shopping trends and the impact of the coronavirus pandemic has hit the city’s once glorious shopping strips hard, and Madison Avenue is no exception. But a gradual return to normality has sparked hope with retailers and landlords alike.“We’ve started to see a lot of our regulars come back,” Jerry…

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As New Yorkers Return To The City, One Company Is Working To Keep The Big Apple As Bright As Ever

PRESENTED BY:   GFP Real Estate
 
As New Yorkers Return To The City, One Company Is Working To Keep The Big Apple As Bright As Ever

People are finally beginning to return to New York City.But as New Yorkers return, they may find themselves coming back to a city that looks quite different from the one they left several months ago. Many offices have not returned to full capacity, with many firms pushing their full returns…

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In Case You Missed It...

As World Reopens, Foreign Investors' Return To U.S. CRE Could Be Imminent As World Reopens, Foreign Investors' Return To U.S. CRE Could Be Imminent
Proptech Company Grows To Over 100K SF At L&L's FiDi Tower Proptech Company Grows To Over 100K SF At L&L's FiDi Tower
Accounting Firm Consolidates To 145K SF At MetLife Building Accounting Firm Consolidates To 145K SF At MetLife Building
New York City Office Values Take $29B Hit, Comptroller Finds New York City Office Values Take $29B Hit, Comptroller Finds
Developers' Next Big Challenge: Finding A Way To Measure Social Impact Of Buildings Developers' Next Big Challenge: Finding A Way To Measure Social Impact Of Buildings
 
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CRE Loan Delinquencies Continue Steady Decline, But Winter Uncertainties Subdue The Celebration

Commercial real estate loan delinquencies have been steadily dropping this year, even late in the summer when a further wave of coronavirus pandemic infections and deaths hit the country. The shrinking number of borrowers behind on loan payments reflects improvements even in the hardest-hit property types, retail and hospitality, experts say.

But that doesn't necessarily mean a healthy outlook for delinquencies, those same experts say. There is still potential for delinquencies to rise as the retail industry faces a logistics-challenged holiday season and business travel hasn't recovered enough to boost the hospitality industry.

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Perforation

Industrial Rents Are Rising So Fast, Developers Aren't Sweating Construction Costs

The ongoing and overlapping disruptions to the global supply chain are wreaking havoc on retailers, construction firms and developers in most sectors of real estate. But so far, that havoc is playing out in favor of those who own and build distribution centers.

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