New York
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....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 […]
Read More....Manhattan Office Leasing Drives National Market Recovery
Office leasing in Manhattan has become a key driver of the national office rebound. For the first time since 2019, tenants are taking more space than they are giving back. National net absorption turned positive in the final months of last year. Net absorption measures the difference between move-ins and move-outs. According to a recent […]
Read More....U.S. Commercial Real Estate Prices Rise as Office Sector Stabilizes
U.S. commercial real estate prices increased across major property types over the past year. Office properties led the recovery despite ongoing market uncertainty. According to the CoStar Commercial Repeat Sale Indices, value-weighted office prices rose 3.8% in the 12 months ended in December. This followed an 11.4% decline in 2024. Industrial, retail, and multifamily assets […]
Read More....Office Investment Rebounds as Sales Surge Across U.S. Markets
Office workers were not the only ones returning to the workplace last year. At the same time, investors were reentering the office market in growing numbers. As a result, building sales accelerated across the sector. Stable interest rates, improving fundamentals, and clearer pricing expectations supported the rebound. Consequently, office sales volume reached more than $56 […]
Read More....NY Retail Closures Continue but Analysts See Modest Rebound in 2026
Yet another wave of store closures has hit New York as 2026 begins. As a result, retail contraction continues to mirror national trends. Francesca’s is closing all locations, including several in major New York shopping centers. At the same time, GameStop is shutting dozens of stores across the state. Meanwhile, Saks Global’s bankruptcy has created […]
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