The Real Deal New York

A third of Hudson Yards’ ​office space​ is gobbled up by TAMI tenants

A weekly feature bringing you the industry’s latest intel
By Chava Gourarie | September 13, 2017 06:16PM

Credit: JLL

According to this week’s market reports, TAMI tenants make up 33 percent of Hudson Yards tenants based on square footage, and residential rents are up less than 1 percent in Manhattan and Brooklyn.

Residential

Rental report | MNS
Queens rents continue to grow faster than Brooklyn or Manhattan, where August rent prices rose by less than 1 percent compared to July. In Manhattan, Soho saw the largest year-over-year increase, at 7.1 percent, and in Brooklyn it was Greenpoint’s with 4.8 percent growth. Read the full reports for Manhattan, Brooklyn and Queens here.

Luxury sales | Olshan Realty
Fourteen residential contracts were signed last week at $4 million and above, the 11th consecutive work with fewer than 20 luxury sales, and the total asking dollar volume was $111 million. Read the full report here.

Commercial

Hudson Yards Update | JLL
TAMI tenants take up 33 percent of square footage at Hudson Yards, with 33 percent, and 44 percent of square footage are relocations from the Plaza District. Read the full report here.

Office snapshot | Colliers International
Average Manhattan office rents were $73 per square foot in August, down 70 cents year over year, and absorption was positive at .93 million square feet. Read the full report here.

Office snapshot | CBRE
All three Manhattan submarkets had an active month in office leasing. Midtown was 12 percent above its five-year average with 1.5 million square feet leased, Midtown South and Downtown were up 22 and 70 percent, respectively. Read the reports for Midtown, Midtown South and Downtown Manhattan here.