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They Want You Back at the Office How to coax corporate America to return to work? First, get rid of the dead plants. Commercial real estate brokers are trying to coax corporate America back to the office.Credit.John Muggenborg for The New York Times April 30, 2021Updated 6:20 p.m. ET When Alice Fair flaunted north-facing views from the 48th floor of a skyscraper in Lower Manhattan, her audience was quiet. Most were on mute. Ms. Fair, a commercial real estate broker, was seeking subletters at 3 World Trade Center on behalf of Uber, offering up more than 80,000 square feet of office space a speck of the 103 million square feet now on the Manhattan market. She made it clear there was room to negotiate.
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A member of the Qatari royal family has purchased a Flatiron retail building from Thor Equities for $40 million. Sheikh Thani bin Abdullah Al Thani purchased the 17,600-square-foot-property at 164 Fifth Avenue from Joe Sitt’s firm at $2,272 per square foot, records show. The five-story building is fully leased to Alo Yoga and sits between 21st and 22nd streets. Alo Yoga has 15 years left on its lease. The site is also home to Sutra, a new restaurant led by celebrity chef Matthew Kenney focusing on plant-based cuisine. Thor announced the building’s sale two weeks ago in a release, but did not disclose who acquired it. A deed recorded Wednesday revealed Al Thani as the buyer.