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…
NYC Retail Leases 2026: New York’s Top 10 in March
New York City is getting some new places to eat, based on this roundup of the top NYC retail leases 2026 has seen so far — with the largest deals signed across the five boroughs in March. Cory Gahr and Josh Lebowitz of Lee & Associates NYC represented Hydrogen Fitness in its first-ever New York City lease — a 17,000-square-foot, 15-year deal at 145 East 32nd Street in Kips Bay, topping the March 2026 rankings….
Saks Global Mall Closings: How Landlords Are Responding
Peter Braus Quoted in CoStar News Lee & Associates President Peter Braus weighs in on how mall owners are navigating the wave of Saks Global store closings sweeping the country. Braus notes that while top-tier properties see the vacancies as a long-awaited opportunity to reclaim and reposition large anchor spaces, malls that still depend on Saks or Neiman Marcus to drive meaningful foot traffic face a much harder road. “When an anchor goes dark there,…
Commercial Rent Regulation Will Hurt NYC Businesses
James Wacht in Commercial Observer Lee & Associates NYC Managing Principal James Wacht draws on more than four decades of experience as a broker, attorney, landlord and tenant to make a pointed case against proposed commercial rent regulation in New York. Writing in Commercial Observer, Wacht argues that while the legislation is well intentioned, it is likely to do more harm than good — making landlords more selective about who they lease to, locking out…
UPS Store Relocates to 149 West 36th Street in Garment District
The UPS Store has signed a 3,900-square-foot lease at 149 West 36th Street in Midtown South, relocating its nearby Garment District outpost to the Frangene Company-owned building. The shipping, printing and business services retailer signed a 10-year lease at the property, located between Broadway and Seventh Avenue, according to a Wednesday announcement from landlord broker Lee & Associates NYC. The UPS Store’s space at 149 West 36th Street comprises 2,000 square feet on the ground…
Lee & Associates NYC Closes Five Leases at 240 West 35th Street
Lee & Associates NYC has arranged five office and retail lease transactions totaling more than 24,000 square feet at 240 West 35th Street, a boutique mixed-use building in Midtown South owned by MetLife Investment Management. Woody King and Todd Korren of Lee & Associates NYC represented ownership in all five transactions. The deals span multiple floors of the 18-story building, located between Seventh and Eighth avenues, steps from Penn Station, Hudson Yards, and Herald Square….
New York Cannabis Retail Market: The Real Estate Phase Is Here
New York’s cannabis retail real estate market has cleared its most talked-about hurdle. Hundreds of adult-use dispensaries are now open across the state, and the conversation has shifted from licensing delays and regulatory gridlock to something more familiar — and more consequential: location. According to Greg Tannor, executive managing director, and Jessica Gerstein, director, at Lee & Associates NYC, New York cannabis retail real estate is no longer constrained primarily by licenses. It is constrained…
Babylist Signs 20,000-SF Lease at 477 Broadway for First NYC Store
Babylist, the leading digital platform for baby registries and parenting resources, has signed a 10-year lease for 20,000 square feet at 477 Broadway in Manhattan’s SoHo neighborhood, marking the brand’s first New York City store. The location is expected to open in late summer 2026. The two-level space includes 10,000 square feet on the ground floor and 10,000 square feet on the lower level. Asking rent for the space was approximately $3.5 million per year,…