Carpe Diem! – Seize the Real Estate Market Opportunity

Hitting a Bottom in Manhattan

Manhattan office leasing totaled 6.3 million RSF (rentable square feet) in Q3 2023, 31% lower than Q2 2022 according to market sources. 2023 leasing is expected to be lower for full-year 2023 versus 2022. The overall availability rate fell 10 basis points from last...
Carpe Diem! – Seize the Real Estate Market Opportunity

Record Amount of Available Space in Manhattan

Manhattan’s office leasing market remains weak. Second quarter activity was 25.2% below pre-pandemic (2105-2019) averages. Leasing in the first half of 2023 fell 12.1% from the first half of 2022. The overall availability rate increased 20 basis points from a quarter...
Carpe Diem! – Seize the Real Estate Market Opportunity

Show Me the Financials

Office tenants have a new question for landlords these days, “Who’s your lender?” Turmoil in the U.S. office market, which has triggered missed loan payments and foreclosure warnings, has meant prospective tenants are now taking a closer look at the financial health...
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