by Joseph Armano | Mar 11, 2025 | Newsletter
Optimism Abounds Manhattan’s office market exhibits signs of recovery, characterized by increased leasing activity, a decline in availability rates, and renewed investor interest. Leasing Activity: Strong Start to 2025: Year-to-date office leasing...
by Joseph Armano | Dec 31, 2024 | Newsletter
Recent trends in New York City’s office usage and return-to-work mandates indicate a significant shift towards pre-pandemic norms. As of October 2024, office visitation rates reached 86.2% of 2019 levels, suggesting a decline in the work-from-home trend that...
by Joseph Armano | Oct 29, 2024 | Newsletter
Leasing activity totaled 5.47 million square feet the third quarter of 2024, 8.0% greater than the five-year quarterly average. Year to date leasing activity is up 32.0% from the prior year. The availability rate was down 80 basis points from the second quarter of...
by Joseph Armano | Aug 28, 2024 | Newsletter
New York City’s new office construction has declined for seven consecutive quarters. Contributing to this slowdown is the fact lenders have grown more risk-averse regarding the office sector, with a lack of clarity about long-term tenant demand...
by Joseph Armano | Jul 7, 2024 | Newsletter
Manhattan office leasing rebounded after a slow first quarter. Leasing for the first half of 2024 increased 8.9% from the first half of 2023. The overall availability rate decreased by 10 basis points from a quarter ago to 20.0%. The decline was due to greater demand...
