Remember when everyone said nobody was going back to the office? Manhattan apparently did not get the memo. After years of predictions about remote work, empty buildings and the death of America’s downtown office market, Manhattan is producing numbers that tell a very different story. Recent Yardi Matrix data puts Manhattan’s office vacancy rate at approximately 10.2 percent, the lowest among the major U.S. office markets studied and down 3.4 percentage points from a year earlier. And companies are signing…
MarketNew York
Everyone Said Manhattan Offices Were Dead. They Were Wrong.
Manhattan’s office market is posting lower vacancy and stronger leasing activity than many post-pandemic forecasts anticipated.
