Tishman Speyer Closes On First NYC Office Buy Since 2019 (June 3, 2025)
Tishman Speyer has completed its first office acquisition in its hometown since before the pandemic.
The New York City office giant, which owns Rockefeller Center and The Spiral, spent $105.5M on a fully leased, 12-story office building in Lower Manhattan.
148 Lafayette St., a fully-leased office in Lower Manhattan, which became Tishman Speyer’s first NYC office acquisition in more than half a decade this week.
Tishman Speyer acquired the 153K SF building, which was built in 1913 and renovated in 2017, from EPIC, it announced Monday. The boutique office tower is Tishman’s first U.S. office purchase since 2021 and its first in New York since 2019.
Current tenants in the building include venture capital firm General Catalyst and cosmetics and beauty company Charlotte Tilbury. The acquisition was partially funded by a $68.3M loan from Blackstone Real Estate Debt Strategies.
A Newmark team led by Adam Spies and Avery Silverstein represented EPIC. It’s unclear who represented Tishman Speyer.
TOP SALES
The Hotel Bossert has changed hands for $100M, Commercial Observer reported. The 282-key, 1909-built hotel at 98 Montague St.’s new owner is Nashville-based developer SomeraRoad, which plans to convert it into housing. The trade marks the end of a chapter for the historic, troubled Brooklyn property, which Chetrit Group lost control of in February after lender Beach Point Capital acquired it in a foreclosure action. Chetrit had owned the Hotel Bossert since 2012, when it bought it in a joint venture agreement with Clipper Realty before buying Clipper out in 2019. But Chetrit then defaulted in 2022, eventually leading to the foreclosure. Beach Point acquired the $112M note for the building last year.
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Clipper Equity has acquired 1800 Park Ave., a vacant Harlem lot owned by The Durst Organization since 2017, for more than $50M, The Real Deal reported. The 680K SF plot has changed hands four times in recent years: Vornado Realty Trust bought it for $39.5M in 2007 and sold it to Continuum Cos. for $66M in 2013. But Continuum, which had planned a 700-unit apartment building, fell behind on its loans, leading to the Durst Org. swooping in and buying $100M of the building’s debt. The Dursts then acquired the lot itself for $91M a few years later but failed to kick off its own plans to build housing before the 421-a tax break expired.
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A Midtown office building has sold from one Milanese family to another for $22.4M, Commercial Observer reported. Pierluigi Tortora, founder of PLT Energia, bought 30 W. 56th St. from Massimo and Alberta Ferretti, who own luxury fashion brand Ferrim USA. The sale price is a whopping $19M above the $3.8M that the Ferretis paid for the 22K SF office building in 1994, PincusCo reported. PLT Energia plans to take over the building and use it for its own offices.
TOP LEASES
Atlantic Terminal, where Nike signed a 16K SF retail lease this week.
Nike has signed a 16K SF retail lease at Atlantic Terminal and Center adjacent to the Barclays Center, according to a release. The retail space with a street-facing entrance adds the athletic apparel maker to the roster of brands nearby, including Sephora, Uniqlo, and Dave & Buster’s. Inline Realty’s David Alani represented Nike, while Atlantic Terminal and Center ownership was represented by Cushman & Wakefield’s Alan Schmerzler, Diana Boutross and Ian Lerner.
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Consulting engineering firm Jaros, Baum & Bolles has signed a 68K SF lease in the Financial District at 55 Water St., Commercial Observer reported. The firm will relocate to the 53-story tower, which is owned by Retirement Systems of Alabama, from 80 Pine St., according to Colliers’ May Manhattan office report. The tenant roster at Jaros, Baum & Bolles’ new digs includes The Legal Aid Society, the New York City Board of Education Retirement System and human resources service Justworks.
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Fisher Brothers signed tenants to 67K SF at 299 Park Ave., a 1.3M SF office tower in Midtown East, according to a release. Investment firm One William Street Capital Management has added 15K SF to its existing 30K in the 42-story building, bringing its total footprint to 45K SF. One William, which relocated from 1290 Sixth Ave. in 2018, was represented by Scott Gottlieb, Andrew Sussman, Ben Friedland and Lewis Gottlieb of CBRE. Private equity investment firm P10 Intermediate Holdings, expanded its space by 9K SF with representation from CBRE’s Silvio Petriello. Consulting firm Tailwind Management is moving to the building in a 14K SF deal. Tailwind was repped by Savills’ Greg Taubin. Newmark’s David Falk, Peter Shimkin, Andrew Sachs and Eric Cagner repped the landlord in all three deals, along with Fisher Brothers’ Marc Packman and Clark Briffel.
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AI-driven marketing intelligence firm AlphaSense is moving its NYC headquarters to the Hudson Yards neighborhood, New York Business Journal reported. The firm, which supports tech companies, signed a 10-year lease for 50K SF at CommonWealth Partners’ 441 Ninth Ave., relocating to the 25-story office building from its current home at 24 Union Square E., Commercial Observer reported. Savills’ Allyson Bowen and Erik Schmall repped AlphaSense.
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Elderserve Health, a senior care nonprofit that does business as RiverSpring Health Plans, renewed its 15K SF Midwood office lease, Commercial Observer reported. The nonprofit first moved into the Brooklyn office space at 1630 E. 15th St. in 2020. Asking rents in the new deal were $45 per SF. The building was owned by Urban Edge Properties, but the property was put into foreclosure in 2023 and last year was handed over to the special servicer of the CMBS trust that holds the mortgage. The tenant was repped by Cresa’s Bert Rosenblatt, Peter Sabesan and Alex Gerome. Ownership was represented by Michael Taylor of Lincoln Property Co.
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Law firm Foster Garvey has signed a 10-year, 11K SF lease at Jack Resnick & Sons’ One Seaport Plaza, according to a release. The landlord intends to renovate the 1.1M SF tower later this year. Other tenants include WeWork, Seaport Entertainment and insurance firm Allied World Insurance. Foster Garvey was repped by Savills’ Nicholas Farmakis and Steve London. The landlord was repped in-house by Brett Greenberg and Adam Rappaport and by John Cefaly, Ethan Silverstein, Stephen Bellwood and Rachel Rosenfeld of Cushman & Wakefield. The law firm plans to relocate from 100 Wall St. to the 35-story 199 Water St. building in the fall, Commercial Observer reported.
TOP FINANCING DEALS
222 E. 34th St., in Kips Bay, where owner the Hakim Org. scored a $99.8M refinancing deal from Northwestern Mutual Life Insurance Co. this week.
The Hakim Organization nabbed a $99.8M refi for 222 E. 34th St., a 480-unit residential building in Kips Bay, from Northwestern Mutual Life Insurance Co., PincusCo reported. The capital replaces a loan for the same amount from the same lender, with an extended maturity date of June 15, 2030.
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Rockrose Development scored an $80M loan for 110 Horatio St., a 10-story, 94K SF West Village multifamily property, according to a release. The financing — a 10-year, fixed-rate loan — was provided by investment manager AXA IM Alts, which was acting on behalf of its clients. The 152-unit property, which is a mix of studios, one- and two-bedroom units and five penthouses, is 99% occupied. A JLL team that included Geoff Goldstein, Steven Klein and Chris Pratt arranged the financing.
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Pro-H Development notched a $77M loan from Urban Standard Capital to finance a 101-unit condo project at 842 Sixth Ave., Commercial Observer reported. The vacant lot was once expected to become a 26-story hotel, but last year 842 Enterprises sold the lot to Pro-H for $30M after the planned hotel wound up facing a $33M preforeclosure action from lender Avana Capital. Now, the 27-story condo tower that will take the would-be hotel’s place is slated for completion late next year. A Ripco Real Estate team of Adam Hakim, James Murad and Alexander Korolik arranged the financing.
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New York Life Insurance Co. has loaned $60M to Altitude Capital Management for the 273-room Courtyard by Marriott New York Manhattan hotel at 135 W. 30th St., PincusCo reported. The sum replaces a previous $60M loan from Voya Financial.
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Community Preservation Corp. provided a $44.1M mortgage to Lemle & Wolff Cos. for a residential development in Sunnyside, PincusCo reported. Lemle & Wolff is in partnership with nonprofit Elmcor Youth & Adult Activities for the 42K SF development, which will deliver 55 units at 43-12 50th St. The construction loan also replaces a previous $6.6M loan on the property from Webster Bank.
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John Catsimatidis’ Red Apple Group refinanced its 86-unit residential building at 670 Pacific St. for $38.1M with M&T Bank, PincusCo reported. The loan on the 84K SF Prospect Heights property replaces a $49.5M sum from the same lender that matured May 30. Red Apple was required to make a $5.1M principal payment and a note modification fee of $190K. Its new loan has to be no more than 80% loan-to-value based on a new appraisal, and has a new maturity date of Sept. 1, 2027.
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Elmord Management netted a $34.3M construction loan for a nine-story multifamily rental project in Astoria, Commercial Observer reported. The two-year bridge loan for 34-20 38th St. came from BridgeCity Capital. Elmord bought the five-parcel development site for $12M from the Pinto Family, PincusCo reported. The development, which is expected to deliver at the end of 2026, will include 89 units and 31 parking spaces.
