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Manhattan Office Market

All articles tagged with #manhattan office market

Midtown’s Secondary Corridors Absorb Office Demand as Prime Space Fills
real-estate4 days ago

Midtown’s Secondary Corridors Absorb Office Demand as Prime Space Fills

Manhattan’s office leasing activity is shifting from prime corridors to secondary avenues like Third and Lexington due to low availability and high rents in trophy spaces. JLL data indicates Third Avenue is on track to surpass its entire 2025 leasing volume in 2026, driven by major tenant expansions and landlord upgrades. This trend reflects a broader market recovery where companies are broadening their search to find suitable space at different price points.

via New York Post|
#commercial-real-estate#jll-data#lexington-avenue-growth
Manhattan Office Market Roars Through Political Headwinds
business2 months ago

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.

via New York Post|
#airbnb#american-express#business