Despite commercial real estate’s well-known woes, the deals might augur even larger transactions — of up to 1 million square feet each — in 2024, sources said.
All but one involve expensively upgraded older towers, reflecting the so-called “flight to quality.” It’s common for a flurry of large deals to close before Jan. 1 in any given year, partly for tax purposes — and also, as one veteran player put it, “so the landlords, brokers, accountants and lawyers can get out of Dodge in time for their winter vacations.
The firm was formed earlier this year from the merger of Byron Trott’s BDT & Company and MSD Partners, which manages the wealth of Michael Dell and his family.A rep for Olayan had no comment. The tower — which a broker recently told us was “on fire in the midst of a terrible market” —was nearly 70% leased even before a BDT deal.
The Sixth Avenue tower is home to New York Post parent News Corp and to Fox Corp., which as we reported in January signed separate lease extensions through 2042. The media companies have a total of nearly 1.2 million square feet in the two 2 million square-foot tower owned by pension fund Ivanhoe Cambridge.Ropes & Gray is in “advanced discussions” to take 240,000 square feet of Warner Bros. Discovery sublease space at Related Companies’ 30 Hudson Yards.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
VP says she has 'no doubt' of Biden-Harris 2024 win despite lackluster polls'It is not that the work we are doing is not very, very popular with a lot of people,' Harris told CBS' '60 Minutes.'
Read more »
Disney's Two New 2024 Movie Delays Explained: What It Means For Pixar & Live-Action RemakesDisney's 2 new 2024 movie delays have made audiences curious about the future of the studio's Pixar movies and live-action remakes of animated films.
Read more »
Dungeons Of Hinterberg Announced For 2024 ReleaseWe thought it was about time we showed you a deeper dive into the social side to Dungeons of Hinterberg! In this new trailer, we explore a day in the life of Luisa, what she gets up to and who she meets. Meeting new people and building relationships will help you grow through your adventure! Wishlist today on Steam: https://bit.
Read more »
SpaceX wants to launch 12 flights a month in 2024SpaceX will aim for 12 flights a month in 2024 as the company works to expand Starlink's satellite-to-cell service.
Read more »
Mike Pence suspends 2024 presidential campaignEx-Vice President Mike Pence on Saturday said that he is suspending his 2024 presidential campaign
Read more »