Manhattan Office Market Roars Through Political Headwinds
Manhattan’s commercial real estate remains hot, with American Express breaking ground on a new global HQ at Two World Trade Center, demolition beginning at 350 Park Ave, and Airbnb purchasing 281 Park Ave South for $81.5 million, signaling strong corporate demand despite political pushback. Industry metrics on vacancy vary (JLL ~13.5%, CBRE ~14.4%, Newmark ~14.3%, Colliers ~13%), while Cushman & Wakefield reports 19.3% due to a leasing-availability methodology designed to avoid double-counting occupied space—highlighting a robust market backdrop for big deals and continued development.
