The Real Deal New York

Posts Tagged ‘Downtown Office Market’

  • Midtown South NYC

    Midtown South leasing activity (credit: CBRE)

    Despite a drop in leasing activity from last year, the Midtown South office market continued to be the tightest in the city during the third quarter. The availability rate of 7.9 percent pushed average asking rents up to nearly $71 per square foot, according to CBRE’s latest market report.

    Midtown South leasing activity totaled 1.5 million square feet in the third quarter, down 16 percent from the same period last year but 13 percent above the five-year average for the quarter. The latter is “indicative of the strong demand for office space that has defined the market since early 2010,” the report said. [more]

  • The 10 most expensive office markets in the world by occupancy cost (credit: CBRE Research)

    While maintaining its position as the most expensive office market in the Americas, Midtown Manhattan ranks as the 10th most expensive such market in the world, according to CBRE’s latest survey. [more]

  • From left: Vornado Realty Trust's Steven Roth and 20 Broad Street

    From left: Vornado Realty Trust’s Steven Roth and 20 Broad Street

    IntercontinentalExchange Group, the parent company of the New York Stock Exchange, is leaving its 381,000-square-foot space at 20 Broad Street when its lease expires next year. [more]

  • From left: Dennis Friedrich, Stephanie Sobel and One New York Plaza

    From left: Dennis Friedrich, Stephanie Sobel and One New York Plaza

    Online apparel retailer OSP Group is moving to Brookfield Properties’ One New York Plaza. [more]

  • From the October issue: A crop of new big blocks of office space will keep the Lower Manhattan market in the running when it comes to wooing large tenants, according to commercial brokers. [more]

  • 10 biggest NYC office blocks on the market

    September 23, 2014 05:20PM
    From left: 85 Broad Street,. 3 World Trade Center and 4 Times Square

    From left: 85 Broad Street, 3 World Trade Center and 4 Times Square

    Although leasing in the New York City office market is much stronger than last year, some of the largest buildings in the borough still have massive vacancies. [more]

  • One Wold Trade

    Downtown Manhattan

    With an increasing number of technology companies moving to the area below Chambers Street, the Downtown rental market seems to be flourishing. The main attraction for IT tenants? Cheaper rents. [more]

  • From the June issue: Despite large leasing deals such as Time Inc. relocating to Lower Manhattan last month, the average asking rent in all three Manhattan markets ticked down in May, the first time that has happened in at least a year. [more]

  • From left: 195 Broadway, 200 Liberty Street and 222 Broadway

    The psychological wall that separated hip Midtown South office tenants from their stuffier Downtown counterparts is showing signs of coming down, the New York Observer reported. [more]

  • From left: 195 Broadway, 200 Liberty Street and 222 Broadway

    Downtown office leasing jumped 73 percent in January and February, more evidence of the area’s strong recovery from Hurricane Sandy, according to Cushman and Wakefield date cited by the New York Observer. A spike in large leases — more than 50,000 square feet — helped spur the surge in activity; seven big deal closed in the first two months of 2013, compared with only two in the first two months of 2012. … [more]

  • Lower Manhattan buildings

    Hurricane? What hurricane? Despite the damages that Sandy visited upon Downtown in late October, the commercial real estate market fared relatively well. In the fourth quarter of 2012, commercial leasing Downtown reached 1.2 million square feet — a 9 percent increase from the fourth quarter of 2011, according to CBRE. [more]

  • The amount of space available in the Downtown market rose to its highest level in nearly two years, as more than 2.9 million square feet officially hit the leasing market, figures released today by commercial firm CBRE Group show.

    As expected, the availability rate for the Downtown market rose in October to 13.7 percent, up from 10.6 percent in September with the addition of more than 2.5 million square feet of space at Brookfield Office Properties’ World Financial Center and other properties, falling within 12 months of availability last month, the CBRE reports says. [more]