Optimal Spaces

11/03/2022

Office: Uncertainty of rising interest rates combined with work from home trend is reducing future office demand. Manhattan office availability rate dropped in the third quarter to 16.4%. Availability shrank to 16.7%. Tenants leased 9.2 million square feet, up 26% from the previous quarter and 28% from the same period last year.

Retail: Leasing has picked up dramatically, as landlords have lowered retail rents to levels tenants can afford and street traffic has picked up.

Sales: Commercial property sales are falling. In the third quarter, investors purchased $172.2 billion of commercial property, down 21% year-over-year. Pension funds are cooling on commercial real estate loans, as borrowing rates rise which is limiting new investments in the sector.

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Find office space for rent in New York. We are Tenant Brokers. We charge No Fee for clients renting space. We often save clients 15-20% less than they could do elsewhere

10/03/2022

Office: New demand for office space in New York City dropped 23% compared to the prior month. Existing companies are renewing their leases on expiration but renting new space that is 10-30% smaller. 67% more space is available than in March 2020. Some 3.4 million square feet of office space was leased in August, the most since January 2020, when the first Covid cases began to pop up in New York City.

Retail: French department store Printemps is to open its first US store at 1 Wall Street and is renting 54,000 sf. Madison Avenue had 5 new store lease announcements. Street traffic has increased and landlords are being reasonable in pricing to get deals done.

Building Sales: Opportunistic deals abound, as building sales had an active month. The market will need to reprice due to future and expected Federal Reserve interest rate hikes.

To read full report go to

Find office space for rent in New York. We are Tenant Brokers. We charge No Fee for clients renting space. We often save clients 15-20% less than they could do elsewhere

07/17/2017

Available direct Manhattan office space declined in all 3 office markets. Subleases for Manhattan offices increased slightly in Midtown and Downtown.

Available Manhattan Retail space that was listed was down last month. This seems counter intuitive given how many storefronts remain vacant. Two possible theories: 1. Landlords have pulled spaces off the market or 2. Prices have come down enough that leases are getting done.

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https://www.optimalspaces.com/july-2017-new-york-office-market-report/

July 2017 New York (New York City, Manhattan, NY, NYC) Office & Retail Market Overview. Page 1/16

02/07/2017

indicators signal robust #2017
http://www.sun-sentinel.com/real-estate/fl-bz-economic-snapshot-20170202-story.html

Year-end surges in the office, industrial and retail sectors foreshadow robust economic growth across South Florida for 2017, commercial real estate experts say.

01/31/2017

best places to
http://nypost.com/2017/01/19/these-swanky-perk-filled-offices-are-nycs-best-places-to-work/

Long gone are the days when the New York workforce happily settled into bare-bones Midtown office towers, got lunch at the corner deli and promptly went home at 5 p.m. Seemingly everything has chan…

01/26/2017

http://nreionline.com/lending/who-will-big-new-york-lenders-be-2017

If commercial real estate financing by Signature Bank and New York Community Bank is inching down—for the time being, at least—who else is lending in New York City?

01/25/2017

http://www.bizjournals.com/newyork/news/2017/01/18/top-n-y-c-commercial-real-estate-deals-hells.html

One of New York City's most active real estate developers, ​Extell Development, is at the helm of the property.

01/16/2017

2017 Market
Manhattan Office leasing was down 4.2% in November and 16.2% year-over-year.
Office availability in Midtown South is up, with subleasing comprising 27% of availability.
Downtown leasing activity was slow as the market waits for big deals in the pipeline to close...

Read More: https://www.optimalspaces.com/january-2017-new-york-office-market-report/

01/16/2017

http://www.news-press.com/story/news/2017/01/14/top-10-commercial-real-estate-sales-2016/96413416/

A growing population is good for commercial real estate, as 2016 proved.

01/15/2017

As Fast notes in a new profile on the upcoming 14th @ Irving , the whole “Silicon Alley” concept has been nebulous one at best in a city that hasn’t traditionally be the most accommodating to .

https://techcrunch.com/2016/12/22/union-square/

Three years might as well be 50 in startup land. It’s hard to say precisely where New York City’s tech community will be by the time 2020 rolls around,..

01/14/2017

has always been a . If companies aren’t growing, they don’t need more office space. If consumers aren’t spending, the market doesn’t need more stores.

http://tcbmag.com/Industries/Real-Estate/Caution-On-Commercial-Real-Estate

01/13/2017

2016 Graphs and
https://www.optimalspaces.com/december-2016-new-york-real-estate-statistics/

December 2016 NYC Office Space Graphs and Statistics