New York
New York Office Investment Outpaces London as Market Recovery Gains Momentum
New York’s office investment market continues to gain momentum. In fact, office sales exceeded $13.8 billion during the first quarter, outperforming London by nearly $2 billion. Notably, this marks the third consecutive quarter that New York has surpassed London in office investment volume. It also represents the largest gap between the two markets in more […]
Read More....850 Third Avenue Lands Restaurant Tenant as Midtown Corridor Rebounds
Leasing momentum is returning to Third Avenue as redevelopment activity accelerates. As a result, 850 Third Avenue has secured a new restaurant tenant during its repositioning. The 605,000-square-foot office tower is being redeveloped by Waterman Interests and HPS Investment Partners. Currently, the building is undergoing an $80 million upgrade. As part of the repositioning, a […]
Read More....NY Industrial Market Awaits Supply Shift as Vacancy Holds Elevated
New York’s industrial market is approaching a turning point after several years of heavy supply growth. As a result, demand is expected to begin catching up with new deliveries over the next year. For now, vacancy remains elevated across the region. Rates are projected to hold in the mid-7 percent range through 2026. Even so, […]
Read More....New York Office Demand Rebounds as Leasing Activity Gains Momentum
Office demand is gaining momentum in New York despite ongoing economic uncertainty. As a result, leasing activity is showing clear signs of recovery across the market. In the first quarter, office tours reached their highest level since the pandemic. Both in-person and virtual activity increased significantly. Therefore, future leasing volume is expected to improve. Demand […]
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....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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