Midtown East towers lead New York’s CMBS market in May

Three single-asset deals backed by Midtown East trophy towers comprised the majority of new CMBS issuance in New York’s market in May, including the Olympic Tower, the recently-acquired 245 Park Avenue, and the Lipstick Building at 855 Third Avenue. The three deals...

Office leasing down 21% year-over-year in May

According to the most recent market reports, office leasing volume in Manhattan is down 21 percent year-over-year in May, and the average price of new development condominiums in the borough plunged 15 percent month-over-month. Residential Luxury Sales | Olshan Realty...

Median home value of $198K surpasses pre-recession peak

According to the most recent market reports, the median value for a home in the U.S. reached $198,000 in April, surpassing the pre-recession peak of of $196,000. Residential Luxury Sales | Olshan Realty The total asking dollar volume for the 32 luxury contracts signed...

Retail rents in Manhattan grew 50% since 2010

According to the most recent market reports, retail rents are down in most shopping corridors in Manhattan. Both the Real Estate Board of New York and CBRE released retail reports tracking 17 and 16 shopping corridors respectively. REBNY looked at how the areas with...

Office properties anchor New York’s CMBS market in Q1

New York’s CMBS market continued to buck the twin national trend of increasing delinquency rates and weak office markets, during an active first quarter. New York saw a total of $1.4 billion in new issuance, $901 million of which was backed by office properties. There...

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