A Brooklyn appellate justice lifted a restraining order and let New York City resume its pied-a-terre tax rollout, days after a lower court halted it — but the underlying lawsuit over the rollout’s execution continues.
Vornado, Rudin Management and an entity tied to Citadel’s Ken Griffin will jointly redevelop 350 Park Avenue into a 1.9M-square-foot trophy tower, with Citadel signing a 15-year anchor lease as part of the $6.2 billion project.
New York Attorney General Letitia James secured a $700,000-plus settlement from SME Capital Ventures over its handling of a 441 West 37th Street condo building in Hudson Yards, forcing the firm to turn the board over to residents.
Capital Group is expanding its Midtown Manhattan office footprint at 345 Park Avenue with a roughly $38 million investment expected to create 200 jobs, backed by up to $3 million in New York state tax credits.
H&R REIT has agreed to sell 27 Sunbelt and New York properties to GO Residential REIT and split its remaining assets among Blackstone Real Estate and other partners in a $6.7 billion transaction expected to close in the fourth quarter of 2026.
Vornado Realty Trust’s Q2 2026 earnings show rising Manhattan office rents and occupancy, plus a new $1.1 billion stake in Park Avenue Plaza alongside Fisher Brothers.
Manhattan tenants leased 3.87 million square feet of office space in July, up 28 percent year over year, with Midtown South driving nearly half the activity as availability hit a six-year low, Colliers reports.
Snapchat’s parent company has taken over the eighth through 10th floors at Vornado’s Penn 2 tower that Verizon leased just over a year ago for a headquarters it never occupied.
Toronto-based Vital Infrastructure Property Trust bought the East New York Health Hub, a 142,249-square-foot medical office building in Brooklyn, for $89.9 million, funded by European asset sale proceeds.
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