Commercial Real Estate
Manhattan Office Rents Influenced by Growing Concessions
Despite high rental rates in Manhattan’s office market, landlords are facing financial pressure due to increasing tenant concessions, such as extended free rent periods and rising construction costs. These concessions….
Why Office Rents Keep Rising Despite High Vacancy Rates
In commercial real estate, it’s often expected that a rise in office vacancies would lead to a reduction in rental rates. After all, when office spaces go empty and demand….
Understanding Today’s Office Rent Prices
Understanding the Real Decline in Office Rents Despite Rising Asking Prices In recent years, commercial real estate observers have been puzzled by an apparent contradiction: asking rents for office space….
Manhattan Office Market Sees Vacancy Decline and Leasing Surge in Q3 2024
The Manhattan office leasing market experienced a significant uptick in activity during the third quarter of 2024, according to a recent report from Avison Young. This surge has led to….
Chrysler Building: Cooper Union Takes Control Amid Lease Dispute
New York City’s iconic Chrysler Building, known for its appearances in films like “Godzilla” and “Spider-Man,” has once again captured attention, but this time it’s due to a dispute over….
Flatiron Building Conversion: A New Era for the Iconic Landmark
The Brodsky Organization is not leaving anything to chance as they move forward with plans to convert the vacant office space in the Flatiron Building into luxury residential units. As….
Is Lower Manhattan’s Office Market Set for a Comeback?
Short answer: Yes. But let’s dive a little deeper. According to Adam Foster, Executive VP at CBRE with 14 million square feet of leasing experience, the conversion of underused office….
Convene Expands in Hudson Yards with Its Largest New York Location Yet
Convene, a leader in upscale event hosting and flexible workspaces, is set to open its largest New York location at Manhattan’s Hudson Yards, one of the city’s most prestigious mixed-use….
IBM’s New Manhattan Office Redefines the Workplace with Outdoor Terrace and Collaborative Spaces
IBM’s outdoor terrace is billed as the largest usable commercial office terrace in New York. IBM’s latest office in Manhattan sets a new standard for innovative workspaces, emphasizing the importance….
Navigating Manhattan’s Rising Industrial Sublet Market in 2024
Manhattan’s industrial real estate market has reached a historic milestone in 2024, as sublet space availability continues to climb, setting a new record. With 7.7 million square feet of industrial….