Bank of India, Global Investor IQ-EQ Sign Leases at 1212 Avenue of the Americas
Why this matters
Office continues to trade in two distinct markets: trophy assets in walkable submarkets that are leasing at or near record rents, and commodity Class B and C buildings where the basis is still resetting. Underwriting on the latter has moved toward replacement-cost-minus, with credit underwriting now leaning on tenant covenant and remaining lease term rather than mark-to-market expectations. For LP-positioned capital, the read-through is that the bifurcation is now a structural feature of the sector, not a cycle to wait out.
Editorial analysis · Real Estate Trail Editorial
On the RET wire
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Computed from Real Estate Trail’s own tracked coverage
Stawski Partners has two new tenants heading to its Midtown office building at 1212 Avenue of the Americas , Commercial Observer has learned. In the largest deal, Bank of India signed a 20-year, 14,630-square-foot lea…
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