Tishman Speyer Sells SoHo Offices to Shorenstein
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. New York continues to bifurcate sharply: trophy office leasing at record rents, commodity Class B in conversion discussions or court-supervised processes. Rent-stabilized multifamily remains supply-constrained and tightly held. 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
- The 285th New York story tracked on the wire in October 2026. All New York coverage →
- Disclosed office deal value tracked in October 2026: $21.6B across 64 reported transactions. All Office coverage →
- 27 stories mentioning Tishman on the wire in the past 90 days. Tishman coverage →
Computed from Real Estate Trail’s own tracked coverage
Tishman Speyer has sold 148 Lafayette St., a fully leased, 12-story, Class A boutique office building in Manhattan’s SoHo neighborhood, for $132.5 million to Shorenstein Properties. Marking its first U.S. office…
External link. Real Estate Trail does not republish source content.
Related coverage — New York · Office
Blood Cancer Nonprofit DKMS Takes 15K SF at 115 Broadway
DKMS , an international nonprofit fighting blood cancer and blood disorders, has signed a new office lease within Manhattan’s Financial District. The organization took 15,000 square feet across the 14th floor of 115 B…
Manhattan office leasing surpasses pre-pandemic levels
Gerber Life Insurance Signs 13K-SF Lease at Two Trees’ 45 Main Street
Gerber Life Insurance , the children’s life insurance provider, has signed a 12,868-square-foot office lease at Two Trees Management ’s office property at 45 Main Street in Brooklyn’s Dumbo neighborhood, Commercial Ob…
NYC Taxi & Limousine Commission Signs 39,000 SF Office Headquarters Lease in Lower Manhattan
NEW YORK CITY — The New York City Taxi and Limousine Commission has signed a 39,000-square-foot office headquarters lease in Lower Manhattan. The space spans the entire fourth floor and part of the fifth floor at 250…
Manhattan Office Vacancy Continues Falling as Shrinking Stock Lifts Coworking’s Market Share
SIOR Fall Event Combines Networking, Examining the Industry’s Future
The Society of Industrial and Office REALTORS (SIOR) concluded its 2026 Fall Event in New York City after bringing together more than 1,200 commercial real estate professionals from 21 countries for four days of netwo…