Federal Building Sales
Commercial Observer
Connecting and informing industry leaders of trends and individuals defining the global commercial real estate landscape
The federal government’s plans to offload many of its buildings remains very much in flux. Catch up on the latest. Also for today: An interview with two of the busier players in the New York City investment sales space, Darcy Stacom and Wendy Silverstein.
Enjoying these stories on all things real estate? Unlock unlimited access to our content with a subscription.
— Tom Acitelli, Deputy Editor
Trump Administration Reverses Plan to Sell 443 Federal Properties Across U.S.
In a quick turnaround from yesterday’s announcement, the Trump administration has reversed its decision to unload hundreds of federally owned properties across the U.S. The General Services Administration (GSA) announced Tuesday that it was considering selling 443 “non-core” assets totaling nearly 80 million square feet in 47 states, Washington, D.C., and Puerto Rico, costing a combined $8.3 billion in recapitalization costs, as Commercial Observer previously reported. But about 18 hours later, that decision was reversed, putting a wrench in President Donald Trump and Elon Musk’s plans to cancel hundreds of federal leases and shrink the size of the federal government portfolio, Bloomberg reported. A spokesperson for the GSA did not immediately respond to a request for comment.
Darcy Stacom and Wendy Silverstein On Their New Firm and the State of CRE
Long live the Queens. Darcy Stacom and Wendy Silverstein are icons in the world of commercial real estate, and although it is Stacom who has the nickname “The Queen of Skyscrapers” she’d happily share her crown with Silverstein, her business partner and friend of more than 20 years. Among her many career highlights: Stacom was a broker with CBRE from 2002 to 2024 before striking out on her own and founding Stacom CRE. She’s worked on some of the most headline-grabbing, expensive multifamily and office deals in New York City and the nation, including the $5.4 billion sale of Peter Cooper Village and Stuyvesant Town in 2006 and the $2.8 billion sale of the General Motors Building two years later. She also helped to sell the Chrysler Building in 2019 to Aby Rosen and Michael Fuchs.
Enjoying these stories on all things real estate? Unlock unlimited access to our content with a subscription. And for a daily version of this newsletter, sign up here.