The Dragon Speaks tries to keep you up to date on the Manhattan commercial real estate scene. From office space news to commercial real estate trends; leases, developments and everything in between. In case you missed them, here are some recent real estate news stories worth checking out.
- The Kaufman Organization recently leased the biggest deal of 2010, 250,000 square feet of office space to beauty giant Avon Products. The deal puts Avon in Kaufman’s 777 3rd Avenue address for 15 years. NY Post
- Hachette Filapacchi, the publishing firm who lost out to Avon at 777 3rd Avenue, is close to taking 132,000 square feet of office space at 1271 6th Ave. The move would give Hachette Filapacchi three floors of space previously occupied by Lehman Brothers.The Real Deal
- New York Life signed the second biggest office lease of 2009. The insurance company renewed its lease on 415,000 square feet at 63 Madison Avenue for the long term. George Comfort & Sons owns and leases 63 Madison Avenue, a class A building between 27th and 28th streets.The Commercial Observer
- Commercial real estate giant, The Related Companies, has until January 31st to commit to a contract with the MTA to develop the West Side Yards project. Related will need to put down a 40 million deposit on what will eventually become a 15 billion dollar project to revitalize the west side with new office, hotel, and residential space. The Commercial Observer
- New York State renewed its lease of 72,000 square feet of office space in Harlem this past week. The New York Worker’s Compensation Board renewed 45,000 square feet of office space on the fourth and fifth floors of 250 W. 125th Street while the New York Department of Labor took the 26,000 square foot space on the fourth floor of the same building.The Real Deal
- Google takes 57,000 more square feet of office space on 8th Avenue. The Commercial Observer