Richard Plehn - Commercial Real Estate Advisor

08/27/2026

📍 72 Spring Street, SoHo
🏢 5th Floor | Available Now

A new prebuilt office space is currently being built on the 5th floor at 72 Spring Street, following our recent lease of the 6th-floor space.

See the 6th floor photos: Although a prebuilt layout was already in place, we made several modifications to better meet the tenant’s needs.
Check out the before & after photos.

Now, we’re bringing that same approach to the 5th floor—creating a flexible, move-in-ready office environment in one of SoHo’s most desirable locations.

👉 Find more about the space for lease on my web: https://richardplehn.com/72-spring-street-6th-and-5th-f/

08/26/2026

📊 What’s happening in the NYC office market right now?
One of the interesting things I’m seeing is that office lease rates are higher than ever, but building sales prices per square foot haven’t followed the same trend.

So what’s behind that disconnect?
Higher interest rates are certainly part of the story, and landlords are also offering significant concession packages to get deals done — including tenant improvement allowances and free rent.

👉 The full Q2 2026 Manhattan Office Market Report is now available on my website: https://richardplehn.com/market-report-manhattan-commercial-office-q2-2026/

08/24/2026

Market Report Commercial Office – Downtown Q2 2026 is out on my website! Visit to find the full report and download a free PDF:
https://richardplehn.com/market-report-commercial-office-downtown-q2-2026/

08/19/2026

⚡ Highlight CRE News: 383 Madison Avenue is a great example of how strategic reinvestment can reposition an existing asset for today’s market.
A new façade, upgraded interiors, and a comprehensive repositioning can dramatically change how a building competes for tenants.
Rather than starting from scratch, owners are finding ways to transform well-located properties and make them competitive with newer office developments.
↘️ Read the full story on NY YIMBY Facebook

Recladding and renovations are progressing on JPMorgan's 47-story 383 Madison Avenue from Foster + Partners and Gensler in Midtown East, Manhattan.

08/14/2026

📊 The Q2 2026 Manhattan Office Market Report is now live!
In this video, I’m highlighting a few of the key numbers and trends from the quarter. For the full report, including additional stats and market insights, visit my website below.
🔗 https://richardplehn.com/market-report-manhattan-commercial-office-q2-2026/

08/12/2026

⚡Highlight CRE News: A major Midtown property is entering a new chapter.
SL Green has been replaced as property manager at Worldwide Plaza, one of Midtown’s most recognizable office assets. With management now changing hands, the bigger question is what comes next—and who ultimately ends up owning the property.
For a building of this scale and location, any change in ownership or strategy could have a meaningful impact on the Midtown office market.
Read in full at The Real Deal

Cushman & Wakefield took over day-to-day operations of the distressed office building as a foreclosure battle rages on.

08/11/2026

📍Sharing a few photos I took of 99 Park Avenue
I’ve always liked the presence this building has on Park Avenue. The entrance and lobby have a great mix of classic Midtown character and a more modern, updated feel.

Right by Grand Central, 99 Park is a very convenient Midtown location, and has recently gone through a major renovation with upgrades to the lobby and tenant amenities.

🏢I’m always taking photos of NYC office buildings, so if you enjoy seeing the buildings that make up the Manhattan office market, check out the Office Buildings section on my website: richardplehn.com

08/11/2026

Great to see this deal covered by Commercial Observer.
Dunn Isaacson Rhee is establishing its new New York City office at 7 World Trade Center, signing a 11,167 SF lease on the 34th floor.

I’m proud to have worked alongside Cory Gahr and Lisa Ann Pollakowski in representing Dunn Isaacson Rhee in this transaction.
7 World Trade Center continues to be one of Downtown Manhattan’s premier office destinations, and it’s always rewarding to help a growing firm find the right space for its next chapter.
Thanks to Commercial Observer for the coverage.
Read the full story below. 👇

The firm has inked an 11,167-square-foot lease on the 34th floor of 7 World Trade Center.

08/06/2026

Enjoyed a great evening at a private event last week with Cindy!

08/04/2026

⚡Highlight CRE News: Another major tech lease is reinforcing Manhattan's office momentum.

✅Snapchat's parent company, Snap Inc., has signed a lease for nearly 200,000 square feet at PENN 2, taking over space formerly occupied by Verizon.

The deal is another clear example of the continued flight to quality, as technology companies gravitate toward modern, amenity-rich office buildings in prime locations. With recent investments transforming the Penn District, the area continues to attract some of the market's most significant tenants.

Read the full story Crain's New York Business

Snap's sublease was the second largest office deal in Manhattan in the month of July.