Posted Oct 20, 2025, 1:12 PM
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New Yorker for life
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Join Date: Jul 2001
Location: Borough of Jersey
Posts: 56,624
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https://nypost.com/2025/10/19/business/m...ing-with-return-to-office-in-full-swing/
Midtown real estate is booming with return-to-office in ‘full swing’
By Steve Cuozzo
Oct. 19, 2025
Quote:
BXP’s likely anchor tenant at 343 Madison Ave. — a ground-up, $2 billion project linked to Grand Central Terminal — will be financial firm C.V. Starr.
The deal would be for 275,000 square feet, the Commercial Observer later reported. It was assumed BXP had landed a tenant when it started vertical construction but no names surfaced until now. BXP, a publicly traded company, predictably had no comment when we asked.
The deal occurs against the backdrop of a seemingly unstoppable market. Transwestern’s third-quarter earnings report cited a Manhattan office recovery “in full swing,” with reductions in both direct and sublease availability to 14.8%.
Maybe most significantly, Transwestern found the construction pipeline “near historic lows” with just 3.2 million square feet in active construction — 22% less than the previous quarter. Demand for more space while little new space comes online will surely drive up rents.
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