BY DANIEL GEIGER

McGraw Hill may put space on the market at 1221 Avenue of the Americas several, sources familiar with the company say, although the firm itself and leasing executives who work with it on its space needs denied the rumor, albeit on background and on the condition their identities be withheld.

Several brokers and executives who have knowledge of the company said executives are contemplating releasing as much as 200,000 to 300,000 square feet at the approximately 2.7 million-square-foot office tower, a block of space that it occupies at top of the 52-story skyscraper.

So far, McGraw Hill has not openly marketed the space through its leasing brokers at the real estate services company CBRE.

To read the full story, click here

BY DANIEL EDWARD ROSEN

Bean counters Frank Hirth LLC has re-upped its lease at 88 Pine Street for another 10 years, doubling its space in the process.

The international accounting firm will grow from a 6,125-square-foot space to a 13,910-square-foot footprint. Frank Hirth first moved into the building in 2009. The firm works with a host of firms both in the United Kingdom and the United States.

Michael Kaufman of the Kaufman Organization represented Frank Hirth in the deal. Frank Cento of Cushman & Wakefield represented the landlord, Orient Overseas Associates. Asking rent in the deal was $45-a-square-foot.

Frank Hirth needed to expand its offices due to “tremendous growth,” said Mr. Kaufman.

To read the full story, click here

BY CARL GAINES

The Mortgage Observer has learned that a $200 million refinancing of the Carlton House condominium conversion is in the works. Bank of America is in talks with partners Angelo, Gordon & Co. and Extell Development to provide the financing, though the loan hasn’t closed and terms weren’t available.

The refinance coincides with the JV’s agreement to sell the 33,389-square-foot retail condominium at the site, located at 680 Madison Avenue, to Vornado Realty Trust. The REIT will pay $280 million for the retail there, according to reports.

The estate of Leona Helmsley sold its leasehold interest in the Carlton House—a former hotel—to Extell Development and Angelo, Gordon & Co. in 2010, setting the ball rolling.

To read the full story, click here

If you own commercial real estate in Manhattan and you haven't filled out our Owners Questionnaire, now's your last chance.

Weighing in at more than 100 pages--more than twice the size of last year's issue--this September's annual Owner's Magazine includes responses from 50 of the city's leading commercial real estate owners, not to mention a package of features stories on the topics you care about most.

But we still have room for more, and we desperately want to hear from you. For more information, or to receive a questionnaire to be filled out, please email Commercial Observer Editor-in-Chief Jotham Sederstrom at jsederstrom@observer.com.