REALM, in partnership with Delshah Capital and A.M. Properties, has acquired CitySpire, a 377,000-square-foot office condominium comprising 24 floors within the 70-story tower at 156 W 56th St. in Midtown Manhattan. Purchased at an 8.5% cap rate, the 98% occupied property features renovated common areas, high-end finishes and a roster of tenants including Caleres, Windels Marx Lane & Mittendorf, LLP and New York Road Runners. 

Built in 1987 and maintained by institutional ownership, the property has undergone approximately $22 million in capital improvements and requires no near-term capital expenditures, REALM said, noting that. Manhattan office leasing activity reached pre-pandemic highs in late 2025. 

“CitySpire represents the type of opportunity we seek in today’s market,” said Travis King, founder and CEO of REALM, an investment collective of 130 family offices. “While capital markets remain cautious on office, we see strong fundamentals in premier Midtown assets, where leasing activity and occupancy continue to outperform. CitySpire reflects our focus on highly selective investments with strong downside protection and long-term upside.”  

The construction timeline for a new arena in the South Philadelphia Sports Complex could accelerate now that the city has been awarded a WNBA expansion team.

Philadelphia will be getting a new WNBA team in 2030.

News about the franchise set to debut in the 2030 season came in a Monday press release. It will be owned by Harris Blitzer Sports & Entertainment, the parent company of the Philadelphia 76ers.

The WNBA is also adding new teams in Cleveland and Detroit. All three cities paid a $250M expansion fee, five times the $50M the Golden State Warriors paid to bring the Valkyries to the Bay Area in October 2023. All three teams plan to invest in building practice facilities and other amenities, though few specifics were available Monday.

“Philadelphia is a city with unmatched passion, rich basketball tradition, and an unwavering love for its teams,” WNBA Commissioner Cathy Engelbert said in a statement. “It’s only fitting that this iconic sports town is finally home to a WNBA franchise.”

Other cities that bid on a hometown franchise include St. Louis, Austin, Nashville, Miami, Denver, Charlotte, Houston and Kansas City, Missouri.

Philly’s new team will play at the same new venue set to house the Sixers and the NHL’s Philadelphia Flyers.

Construction is set to wrap up in 2031, but HBSE Managing Partner Josh Harris told The Philadelphia Inquirer he would like to expedite the project so the new team can play there during its inaugural season.

If that doesn’t come to fruition, the team will debut at the Wells Fargo Center, where the Sixers and Flyers play now.

“Philadelphia is one of the most storied basketball cites in the world and our region is home to some of the best women’s players and coaches to ever grace the hardwood,” Harris said in a statement. “It’s only right that this city gets the WNBA franchise it deserves, and we’re humbled to help usher in a new era of Philadelphia basketball.”

Professional basketball dominated headlines in Philadelphia much of last year as the Sixers worked to garner support for a controversial new arena on Ninth and Filbert streets in Center City.

The team ultimately gained city council approval before pivoting back to South Philly in January.

The arena replacing the Wells Fargo Center is a joint venture between HBSE and Comcast Spectacor, which used to own the Sixers and regained a small stake in the team through the agreement.

The pivot away from Center City raised big questions about the future of the struggling Market East corridor, most of which remain unanswered six months later.

City officials have announced a master-planning process for the neighborhood, but few details have been shared with the public.

Ankrom Moisan, a Portland-based architecture, interior design, brand, and planning firm, announced the promotion of 18 team members.

The recent elevations include the appointment of four associates, seven senior associates, one associate principal, four principals, a studio co-leader, and a senior director of marketing.

“At Ankrom Moisan, we celebrate a culture of leadership, collaboration, and innovation. These promotions recognize individuals who not only push the boundaries of design and expertise but also foster an environment where mentorship, inclusivity, and creativity thrive,” said Dave Heater, President of Ankrom Moisan. “We look forward to the continued impact they will make—both within our teams and in the spaces we create.”

Ankrom Moisan is active across the Pacific Northwest, and recent projects include the massive expansion of Portland International Airport (PDX), a $2.15 billion renovation initiative.