New York Market Overview

Office:

1. Bloomberg signs 500K sf extension at 120 Park Avenue.
2. Apple adds 95k sf at Penn 11, brings its total to 550K sf.
3. AMC Networks is renewing and downsizing its lease from 335,000 to 177,000 square feet at 11 Penn.
4. Cerity Partners leased 50K sf at 99 Park.
5. Rippling: 330 West 34th Street, 133K sf, a new 10-year lease.
6. GFI Group: 55 Water Street Financial District, 129K sf.
7. Robinhood: 2 Pennsylvania Plaza, Penn Plaza, 125K sf, a new 10-year sublease.
8. BakerHostetler: 45 Rockefeller Plaza, 115K sf, signed a 16-year renewal.
9. Administration for Children's Services: 1000 Dean Street, 105K sf.
10. Sixth Street: 66 Hudson Boulevard, Hudson Yards, 103K sf.
11. Current: 2 Pennsylvania Plaza, Penn Plaza, 62K sf.
12. Capgemini signed a 10-year lease for 43,000 square feet in Penn 2, asking rent of $120 per square foot.
13. Over time, 20 Jay Street, Dumbo, 41K sf.
14. Moroccanoil: 1185 Sixth Avenue, Times Square, 40K sf.
15. 10EQT Partners: 245 Park Avenue, Grand Central, 38K sf.
16. Jay Suites signed a 30,000 sq ft space at 41 Flatbush Avenue in Fort Greene, previously run by Regus.

Largest Office Leases 2025:

1. New York University master leased 1,067,383 sf at 770 Broadway, for a hub for engineering, science, and technology, converting the vacant floors into laboratories, classrooms, and workstations. Vornado used some of the $935 million upfront payment NYU made to repay the property's $700 million mortgage. The lease has a 70-year term with options for NYU to buy the office portion of the building in 2055 and at the end of the lease.
2. Jane Street Capital signed a new long-term lease for 1 million square feet and a 400,000-square-foot expansion at 250 Vesey Street.
3. Deloitte agreed to lease 807,000 square feet at 70 Hudson Yards, the 47-story, 1.1-million-square-foot building.
4. Citadel leased 502,500 SF at 660 Fifth Avenue.
5. Citadel signed a lease for 850,000 square feet at 350 Park Avenue.
6. Bloomberg signed an 11-year lease extension at 120 Park Avenue for 495,753 sf and negotiated an extension for 20 floors across the 26-story building. Until 2040.
7. United Nations Association: Two United Nations Plaza, 425,190 sf. The United Nations consolidated its office space as part of a $500 million development plan for One and Two United Nations Plaza. The U.N. signed a lease for 425,190 square feet of space across 26 stories at 2 United Nations Plaza, in addition to two stories of retail at 1 United Nations Plaza.
8. Horizon Media signed a 17-year extension on its 360,000-square-foot space at 75 Varick Street.
9. Guggenheim Partners signed on for another 17 years at 330 Madison Avenue, expanded from 240,000 square feet to 360,000 square feet. Asking rents start in the low $90s per square foot at the base and $100 on higher floors.
10. Universal Music Group signed a 22-year lease for 336,000 square feet at 2 Penn.
11. Amazon leased 330,000 RSF at 10 Bryant Park. Amazon's lease starts at $29.5 million per year and increases to $34.8 million after 10 years.

Retail:

1. National retailers in New York City reduced their store count by 112 locations.
2. Starbucks, Old Navy, Staples, and Duane Reade drove the pullback; 18 retailers shut down all NYC locations this year.
3. Growth in chain stores came overwhelmingly from food and beverage operators (now representing 55.8 percent of all chain locations) and fitness concepts.
4. Chelsea Piers Fitness: 135 East 57th Street, Plaza District, 47,000 sf
5. Five Iron Golf: 25 Kent Street, Greenpoint, 15,900 sf
6. Carver Road Hospitality: 80 South Street, Financial District, 14,000 sf
7. Taj Inc: 109-07 101st Avenue, Richmond Hill, 10,800 sf
8. Portabella: 49 West 57th Street, Plaza District, 10,000 sf
9. Carnegie Hospitality: 200 Chambers Street, Tribeca, 8,500 sf, signed a new 20-year lease
10. Cobble Hill Ballet: 300 Huntington Street, Carroll Gardens, 5,800 sf, signed a new 10-year lease
11. Jacob Cohen: 792 Madison Avenue, Upper East Side, 4,400 sf
12. Motek: 184 Bleecker Street, Greenwich Village, 3,900 sf, signed a new 15-year lease
13. ID Hot Yoga: 410 West 14th Street, 3,600 sf

Largest retail of 2025:

1. Meow Wolf: South Street Seaport, 75,000 sq feet
2. Old Navy leased a 55,000-square-foot flagship on the first and second floors at 50 West 34th Street for a 15-year lease.
3. Life Time: Grand Central, 52,000 sq feet. Life Time signed a 20-year lease at PBC's 10 Bryant Park.
4. Equinox: Chelsea, 50,000 sq feet. To keep up with the competition, Equinox, an OG luxury New York gym, signed a long-term lease for three floors at Terminal Warehouse, 261 11th Avenue.
5. Convene Hospitality: Chelsea, 50,000 sq feet
6. Chelsea Piers: Hudson Square, 48,833 sq feet at 200 Varick
7. Chelsea Piers: 47,000 sq feet on the ground floor of 135 East 57th Street
8. Old Navy renewed its 45,000-square-foot lease at 610 Sixth Avenue.
9. Neko Health: 42,151 sq feet at 15 Central Park West.
10. Aritzia: Soho, 30,000 sq feet extended its lease at 560 Broadway

December 2025 Retail Leases:

1. Brooklyn Prospect Charter School leased a 150,000-square-foot space for a 35-year term at the Wheeler office development in Downtown Brooklyn.
2. Brooklyn Prospect Charter School: Downtown Brooklyn, 150,000 square feet
3. Life Time: Downtown Brooklyn, 80,000 square feet. Life Time signed a five-year lease for an 80,000-square-foot space at Brooklyn Tower. They will occupy seven floors at 9 DeKalb Avenue.
4. Kings Athletic Club: 52,000 square feet. A 29-year lease for 52,000 square feet at 111 Hicks Street, for a private racquet and wellness club with a pool, two tennis courts, a squash court, pickleball, and golf simulators.
5. Sky Zone inked a 52,000-square-foot lease at 2350 East 69th Street in Bergen Beach.
6. Sky Zone signed a 50,000-square-foot lease at The Shops at Skyview. Blackstone subsidiary ShopCore Properties is under contract to sell. Will occupy the fifth floor of the shopping center at 40-24 College Point Boulevard.
7. Little Big Hospitality inked a 45,000-square-foot lease at 50 Columbia Heights to open a family-oriented membership club at The Beginning Clubhouse next summer.
8. Kwenda Collegiate Girls Charter School: Flatbush, 44,000 square feet. Signed a 10-year lease for 44,000 square feet at 2520 Church Avenue in Flatbush.
9. Burlington Stores: Jackson Heights, 43,000 square feet at 72-22 Broadway
10. Lidl: East Williamsburg, 27,000 square feet
11. Jongro BBQ signed a lease for 24,000 square feet on the sixth floor of The Shops at Skyview.