News Summary
New York City’s real estate market is experiencing a dynamic shift with significant transactions across various sectors. Notable leases include Tom Ford Fashion’s 11,118 square feet at 500 Park Ave and Charles Tyrwhitt’s 3,800 square foot space at 477 Madison Ave. Additionally, Civic Builders acquired a property for a charter school and various other transactions are reshaping the market, highlighting increasing investor confidence in mixed-use developments.
New York City has witnessed a series of notable real estate transactions, reflecting a dynamic shift in various sectors, including retail, office, mixed-use, and educational facilities. Among the key highlights, luxury fashion brand Tom Ford Fashion has signed a significant lease at 500 Park Ave, while other prominent deals have also made headlines across the boroughs.
One of the most talked-about transactions is Tom Ford Fashion’s agreement to lease 11,118 square feet of office space at 500 Park Ave for a term of 10 years. The property is owned by SL Green, one of the largest commercial real estate investment trusts in the United States. The deal was facilitated by a team of brokers from JLL, including Frank Doyle, Cynthia Wasserberger, and Michael Pallas, representing the landlord. Tom Ford’s representation was managed by Savills, with brokers David Goldstein, Jarod Stern, and Sam Mann playing pivotal roles in negotiating the lease.
Additionally, men’s clothing brand Charles Tyrwhitt has secured a 3,800 square foot retail space at 477 Madison Ave in Manhattan, with RFR as the landlord. The lease agreement involved brokerage firms Retail by MONA representing the landlord and Cushman & Wakefield assisting the tenant in the negotiation process.
In the Bronx, a new chapter for education facilities is unfolding as Civic Builders purchased a property at 1472 Boston Road for $9.3 million. This location will soon be transformed into a charter school, reinforcing Civic Builders’ mission to create innovative educational spaces.
Furthermore, the hotel sector has seen activity as NY 37TH ES LLC obtained a refinancing loan of $131 million from Wells Fargo Bank for the Embassy Suites at 60 W. 37th St.. This refinancing is expected to stabilize the asset and facilitate future renovations.
Another notable lease was signed by a new restaurant, Goody’s, at 233 Broadway, where they will occupy a mixed-use space of 5,000 square feet for a duration of 15 years. The lease was brokered by The Lawrence Group with David Ofman and Brian Siegel representing the landlord.
In a move that showcases the versatility of mixed-use properties, Architectural Flooring Resource secured a 9,300 square foot lease at 114 W. 26th St.. This lease was handled by a collaborative effort among landlords Dean Colin Properties LLC and Jal Colin Properties LLC, with multiple brokers from Adams & Company and Benchmark Properties involved.
Simultaneously, a space with the same size was leased by Red Door Community, a nonprofit organization providing cancer support at the same 114 W. 26th St. address, indicating growing interest in the area for both commercial and nonprofit activities.
In Queens, residential and industrial properties at 34-10 to 34-24 38th St. have changed hands for $12 million. The transaction was made between the Pinto family as sellers and buyer Mordechai Schwimmer.
The market is also seeing substantial changes in Brooklyn, where a mixed-use complex located at 2886 Atlantic Ave was sold for $72 million from The Jay Group to Camber Property Group, demonstrating robust investor confidence in mixed-use developments.
Lastly, a multifamily building situated at 140 Wadsworth Ave. in Washington Heights was sold for $5.9 million, further emphasizing the activity within the multifamily sector. This transaction saw ABCNY as the buyer and Thomas Kleinberger as the seller.
In summary, New York City’s real estate landscape is shifting as high-profile leases and sales across multiple sectors position the market for continued growth and evolution, reflecting both local and national trends. The transactions highlight a range of interests from luxury retail and hospitality to educational spaces and mixed-use developments, indicating a diverse approach in meeting the needs of a changing urban environment.
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Additional Resources
- Crain’s New York: NYC Deals of the Day, June 9, 2025
- Wikipedia: New York City
- Brick Underground: Renters Beware – 11 Things to Look Out For in That Lease
- Google Search: New York real estate market
- Yield Pro: The Reserve at Estuary
- Google Scholar: New York real estate deals
- Crain’s New York: NYC Deals of the Day, May 28, 2025
- Encyclopedia Britannica: New York City real estate
- Commercial Observer: No Standing NYC Store on West Houston Street
- Google News: New York City real estate news
Author: STAFF HERE NEW YORK WRITER
NEW YORK STAFF WRITER The NEW YORK STAFF WRITER represents the experienced team at HERENewYork.com, your go-to source for actionable local news and information in New York, the five boroughs, and beyond. Specializing in "news you can use," we cover essential topics like product reviews for personal and business needs, local business directories, politics, real estate trends, neighborhood insights, and state news affecting the area—with deep expertise drawn from years of dedicated reporting and strong community input, including local press releases and business updates. We deliver top reporting on high-value events such as New York Fashion Week, Macy's Thanksgiving Day Parade, and Tribeca Film Festival. Our coverage extends to key organizations like the Greater New York Chamber of Commerce and United Way of New York, plus leading businesses in finance and media that power the local economy such as JPMorgan Chase, Goldman Sachs, and Bloomberg. As part of the broader HERE network, including HEREBuffalo.com, we provide comprehensive, credible insights into New York's dynamic landscape.
