Midtown office building continues leasing spree with addition of commodities firm
The momentum continues at 1185 Sixth Ave. in SL Green. A new 54,250-square-foot agreement with Hartley Partners will see 85% of the 1.1 million-square-foot tower leased. This follows a 180,000 square foot lease signed over the past year. The office tower at 1185 Sixth Ave. is 85% leased under the latest agreement. Stefano Giovannini Hartley […]
NYPD Commissioner Tisch calls for revue of car leasing program abused by top brass: sources
Police Commissioner Jessica Tisch is planning to overhaul the NYPD's car leasing program, which costs more than $1 million a month, due to concerns that higher-ups are overlooking a less visible program, according to sources. He has ordered a review. CRALO (Confidential Rental and Leasing Office) is a program that provides undercover vehicles to NYPD […]
Billions Wasted on Leasing Empty Buildings
According to Sen. Rand Paul's (R-Ky.) annual Festivus Waste Report, the government wastes $10 billion maintaining, leasing, and furnishing vacant buildings. This year, Paul highlighted over $1 trillion in government waste, including “an ice-skating drag queen, a $12 million pickleball facility in Las Vegas, $4,840,082 on a Ukrainian influencer, and more.” “It's included!” “No matter […]
Biden Admin Bans Future Leasing In Top Coal Mining Region On Thanksgiving Eve
On the eve of Thanksgiving, the Biden administration took action to ban future coal leasing in the Powder River Basin, one of the most coal-rich regions in the United States, according to multiple reports. The Powder River Basin, which spans parts of Montana and Wyoming, accounted for about 43% of U.S. coal in 2019. According […]
Brookfield taps leasing giant JLL to find tenants for nearly full Manhattan West towers
Brookfield Properties, with most of its three largest office towers leased for rents well above $100 per square foot, is building a 700-storey building between East Pennsylvania Station and its affiliate Hudson Yards. The world doesn't seem to care about million square feet of development. To the west. Still, leases don't last forever, and there […]
NYC retail leasing shows signs of rebound after COVID carnage
It may be too early to pop the champagne cork, but Manhattan's massive retail leasing industry is showing strong signs of ending the pandemic carnage. Even before anyone had heard of COVID-19, online shopping reduced demand for brick-and-mortar stores by perhaps 10%. The lockdown made things even worse. Readers of this column know that we […]
Manhattan DA opens probe into Adams admin’s leasing of commercial properties tied to possible bribery: report
The Manhattan District Attorney's Office has launched an investigation into City Hall's commercial real estate lease for possible bribery, according to reports. This latest investigation, elements of which have been previously reported, is the fifth criminal investigation into Mayor Eric Adams and his inner circle. As part of the Manhattan DA's investigation, Adams' right-hand woman, […]
Leasing a car more popular, high-credit consumers choosing to lease more than 30% of the time
Borrowers with good credit scores choose to lease more often than those with poor credit scores. (iStock) With car prices rising since the peak of the pandemic, many drivers are likely buying cars on leases rather than loans. Experian’s State of the Auto Finance Market Q1 Report. Borrowers with higher credit scores are more likely […]