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Real Estate Roundup 1.13.20

Image of Industry City (Credit: Industry City)

Real Estate Roundup


The United States Marshals Service will move its New York City offices from Chelsea to Industry City in Sunset Park. The General Services Administration (GSA), which handles leasing for the federal government has inked a 15-year deal with a five-year option for 40,000 square feet at 34 34th Street between Second and Third Avenues. (CO)

Production company Distinguished Concerts International New York (DCINY) has signed a 15-year lease for 17,644 square feet on the entire 19th floor of Empire State Realty Trust’s 250 West 57th Street. Asking rent was in the low $70s per square foot. (CO)

Politics and other news

Mayoral hopeful Scott Stringer has jumped on the anti-big real estate bandwagon and is shunning campaign contributions from the industry — now that he’s amassed a nearly $1 million war chest from the Big Apple’s biggest landlords. (NYPost)

Bed Bath & Beyond has signed a deal to sell roughly half its real estate to a private-equity firm and lease back the space in a transaction that will generate more than $250 million in proceeds for the troubled home-goods retailer. The 2.1 million square feet of space sold to Oak Street Real Estate Capital includes the company’s New Jersey headquarters, a distribution facility and an undisclosed number of its roughly 1,500 stores. Bed Bath & Beyond will continue to occupy the properties under long-term leases. (WSJ)

China’s wealthy families are twice as likely as global peers to have made their millions in real estate. (Bloomberg)

Airbnb said Friday it will hire union construction labor for new real-estate developments, the latest sign that the home-sharing company is trying to strengthen its support from organized labor. (WSJ)

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