News
U.S. Office Leasing Surges to 120M SF in Q1 2026
Office leasing activity across the United States showed renewed strength in the first quarter of 2026, signaling continued momentum in the sector’s recovery. Tenants signed new leases totaling approximately 120 million square feet during the quarter. This marks the highest quarterly volume since before the pandemic. In addition, the total reflects a 25% increase compared […]
Read More....NYC Office Conversions Surge as 16K Units Planned in 2026
New York City continues to lead the nation in office-to-residential conversions, as developers accelerate efforts to repurpose underutilized office space. Developers have planned 16,358 apartment units for conversion this year. This total nearly doubles the 8,310 units recorded just 12 months ago. As a result, the trend highlights a rapidly shifting urban real estate landscape. […]
Read More....Fifth Avenue Retail Corridor Gains Momentum
Retail activity along Fifth Avenue in Upper Midtown continues to gain momentum. New leases and high-profile openings are helping to reposition the corridor. Most notably, a major retail lease has been signed at 680 Fifth Avenue at East 54th Street in New York City. Sources indicate that Pop Mart will occupy the approximately 7,000-square-foot space. […]
Read More....AI Companies Drive Office Leasing Surge in New York City
Growing artificial intelligence companies are increasing demand for office space in New York City. As a result, the market is experiencing its strongest leasing year in more than a decade. While AI drives digital innovation, these companies still require physical space for employees. Therefore, many firms are securing large office blocks across Manhattan. This trend […]
Read More....Leasing Surges at 520 Fifth Avenue as Boutique Office Space Gains Traction
Leasing activity has surged at 520 Fifth Avenue, often described as an office building “hiding in plain sight.” As a result, the property is now more than 40 percent leased after just nine months of marketing. The 1,002-foot luxury tower features 210,000 square feet of boutique office space. The offices span floors nine through 34 […]
Read More....BXP Secures 230K SF in Leases at 360 Park Avenue South
BXP has secured 230,000 square feet of new and expansion leases at 360 Park Avenue South. As a result, the 450,000-square-foot building is now more than 90 percent leased. Strong demand continues to be seen from a diverse tenant base. The largest expansion was completed by Optiver, a global market-making firm. The company added 92,000 […]
Read More....Carlyle Expands Manhattan Office Footprint With Major Park Avenue Leases
Carlyle Group has significantly expanded its Manhattan office footprint. As a result, the firm’s New York presence now exceeds the size of its Washington, D.C., headquarters. The global investment firm signed a 10-year lease for 150,036 square feet at 245 Park Avenue. The space spans the entire 23rd through 26th floors of the building. The […]
Read More....New York Office Investment Market Rebounds as Sales Volume Reaches $13.4B
New York’s office investment market continues gaining momentum. Notably, sales activity increased for the second consecutive year. In 2025, office sales totaled $13.4 billion. That figure represents a 34% increase year over year. As a result, total transaction activity reached its highest level since 2019. After several slow years, investors are gradually returning to the […]
Read More....Times Square Office Leasing Surges at 1540 Broadway Following $150M Repositioning
A $150 million repositioning at 1540 Broadway in Times Square is already driving strong office leasing activity. Importantly, the project will not be fully completed until early 2027. The 750,000-square-foot office tower is being modernized to attract tenants seeking premium workspace in Midtown Manhattan. As a result, demand for repositioned office space continues to rise […]
Read More....Pharmacy Closures Reshape Retail Real Estate Across New York
The U.S. pharmacy sector is in a major contraction. This shift is reshaping prime corners and neighborhood retail nationwide, including New York. Since 2022, the largest chains have reduced store counts. Margin pressure, post-pandemic demand normalization, and theft have all played roles. Walgreens Boots Alliance announced plans to close 1,200 stores over three years. The […]
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