Quote:
Originally Posted by DCReid
"However, Midtown’s available office space has increased by 36 percent since March 2020. Wallach said that number is modest compared to Midtown South (where it has more than doubled), Downtown (up 95 percent), and Manhattan overall (up 67 percent.) Prospective tenants in Manhattan now have approximately 90 million square feet to choose from, according to Colliers..."
Still a lot of office space to fill... but from what I have been reading, there appears to be a good demand and desirability for new or refurbished class A offices...
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That doesn’t mean what you think it does. There is always an overall availability of office space. But’s not what we are talking about. We’re talking about the reason the city rezoned east midtown and the Hudson Yards. There is a lack of NEW office space, that’s the market we’re talking anout, and the reason the new towers, even at the WTC are filling up. With the lack of new starts on new office construction, (current proposals will take years to complete), this city demands more.