News
Rising US Office Leasing remains below pre-pandemic pace
Rising US office leasing still remains below pre-pandemic pace, signaling a long-term structural shift in the market rather than a simple cyclical upturn. While leasing activity saw a year-over-year increase in the third quarter, total volume for 2024 remains nearly 30% below the historical pre-COVID average, underscoring a fundamental recalibration of corporate real estate needs. […]
Read More....From Underdog to Frontrunner: Mamdani’s Ascent Alarms Developers
The stunning ascent of Zohran Mamdani, a once little-known state assemblyman who pulled off a surprise win in the Democratic primary to become New York City’s leading mayoral contender, is shaking up the commercial real estate world. Mamdani has built his campaign around progressive policies that directly challenge the city’s property establishment. He supports stronger […]
Read More....Cautious Optimism Returns to Commercial Real Estate Lending
After years of tightening credit and shrinking exposure, banks are beginning to hint at a comeback for commercial real estate lending. Executives from M&T Bank, PNC Financial Services Group, and several other regional lenders said this week they anticipate renewed growth in CRE loan activity by early next year — a notable shift after a […]
Read More....SL Green’s 919 Third Avenue Hits 100% Occupancy: Bloomberg & State of NY Expand Tenancy
SL Green Realty Corp.’s 1.5 million-square-foot office tower at 919 Third Avenue in Midtown Manhattan has officially reached 100% occupancy, marking a significant milestone for the New York office market. The achievement follows a major lease expansion by the New York State Office of General Services (OGS), which added 66,100 square feet to its existing […]
Read More....Manhattan Office Market On Pace for Strongest Year Since 2019
Manhattan’s office leasing market is on pace for its strongest year since 2019, driven by robust activity in August that saw a more than 20% increase from July. This resurgence is propelled by a “flight to quality,” with tenants favoring new construction and modern, high-end office spaces. Major industries, particularly tech and legal, are leading […]
Read More....Deloitte Committed to Leasing New Office Skyscraper in Manhattan
Deloitte has committed to leasing a significant portion (800,000 sq ft) of a new office skyscraper, 70 Hudson Yards, in Manhattan. This move is seen as a strong indicator of the resurgence of the high-end office market. Related Cos. secured this deal with Deloitte before even breaking ground on the project, which will be the […]
Read More....Amazon Secures One of Manhattan’s Largest Office Leases at HSBC
One of Manhattan’s largest office leases this year has been finalized by Amazon, marking a significant development demonstrating continued corporate investment in prime New York City real estate at HSBC. This major transaction underscores the tech giant’s aggressive expansion strategy within the city, driven by pressing needs for physical workspace. The Seattle-based company has inked […]
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