Ben Tapper writes in Commercial Observer about what NYCHA’s redevelopment of its Chelsea campuses shows about New York Housing Court. With 95,226 nonpayment cases filed in 2025, only 50 judges, and cases taking about 15 months to resolve, he argues that court delays now hurt owners, tenants, and the city’s own housing goals. “Housing Court is not a peripheral issue, and, if it can happen to the City, it can happen to you.” Read the…
149 West 36th Street Sees 11,360 SF in Office Renewals
Lee & Associates NYC Completes Two Office Renewals Totaling 11,360 SF at 149 West 36th Street The New York Real Estate Journal reports that Noah Caspi and Todd Korren of Lee & Associates NYC completed two direct office lease renewals totaling 11,360 square feet at 149 West 36th Street in the Penn Plaza/Garment District, representing landlord The Frangene Co. Full-service printing and graphics company Excel Graphics signed an eight-year renewal for its entire 4,500 s/f…
Lee & Associates Tapped for Seward Park Cooperative Retail
Lee & Associates NYC Tapped to Reposition Seward Park Cooperative’s 50K-SF Retail Portfolio Commercial Observer reports that Seward Park Cooperative — one of New York City’s largest market-rate residential co-ops — has selected Lee & Associates NYC to lead leasing strategy and retail representation for 25 retail properties totaling approximately 50,000 square feet on the Lower East Side. The assignment marks a rare opportunity to institutionalize a fragmented retail portfolio held entirely by co-op shareholders,…
SceniX Signs Chelsea Office Lease at 80 Eighth Avenue
AI platform SceniX has signed a Chelsea office lease for the entire 17th floor at GFP Real Estate’s 80 Eighth Ave. — a 5,914 SF, five-year commitment representing one of the neighborhood’s notable AI-tenant deals of the quarter. Dennis Someck and Justin Myers of Lee & Associates NYC represented the tenant in the SceniX Chelsea office lease, which will house the robotics-simulation company’s general and administrative operations. NYREJ: SceniX Signs Full-Floor Chelsea Office Lease at…
Manhattan Office Recovery: What Tenants Want in 2026
The Manhattan office recovery is leading the nation, with office foot traffic now only 5.5% lower than pre-pandemic levels. In a new Bisnow Studio B feature, Lee & Associates examines what’s driving the rebound — and what tenants and landlords are doing to capitalize on it. The Manhattan office recovery has pushed Q4 vacancy to a five-year low of 13.9%, with 10M SF leased in the quarter alone. Bisnow Studio B: Manhattan Office Recovery Reshapes…
Manhattan Office Leasing Hits Post-2019 High in Q4 2025 | Market Report
Manhattan’s office market closed 2025 with its strongest quarterly leasing performance since late 2019, as tightening availability, rising rents and growing tech demand signal a more durable recovery entering 2026. Lee & Associates NYC’s 2025 Q4 Manhattan Office Market Report shows leasing volume reached 11.6 million square feet in the fourth quarter, bringing full-year demand to 42 million square feet, up 7 percent over 2024. Availability declined for the seventh consecutive quarter to 13.9 percent, while net…
REBNY 2026 Honorees | James Wacht Among Award Winners
James Wacht’s Broker Recognition Award The 2026 list of REBNY 2026 honorees featured several distinguished professionals whose work has had a lasting impact on the city’s real estate community. Among them was James Wacht, Managing Principal at Lee & Associates NYC, who received the Louis Smadbeck Memorial Broker Recognition Award for integrity, leadership and long-standing contributions to both the brokerage community and REBNY itself. Wacht, a lifelong New Yorker and industry veteran, has led Lee…
Capital Fund Management Leases at 510 Madison Ave
Paris-based hedge fund Capital Fund Management (CFM) has signed a long-term lease for two full floors at 510 Madison Avenue, marking a major tenant win for landlord Boston Properties (BXP) as it continues to revamp the Midtown East office tower. The quantitative hedge fund, which manages over $19 billion in assets, will occupy the 28th and 29th floors, totaling approximately 23,000 square feet, with reported asking rents reaching $160 per square foot. CFM plans to…
75 Pierrepont St. in Brooklyn Heights Sells, Remains Rent-Stabilized
Lee & Associates NYC on Sept. 4 completed the $6.8 million sale of 75 Pierrepont St., a 25,800-square foot, six-story, rent stabilized residential building in Brooklyn Heights at a 6.2% cap rate. “The sale of this Brooklyn Heights jewel for a 6.2% cap shows that there is hope amongst the NYC investment community that the legislature will one day realize that the best way out of a housing crisis is building more units, not regulating them,” said…