07/21/2025
đ¨ Westchester County CRE Market â Q2 2025 Update đ¨
The latest numbers are in, and hereâs whatâs happening across Westchesterâs commercial real estate market:
đď¸ Multifamily
We saw a surge of new apartment deliveries in Q2, which nudged vacancy rates upâbut rents are holding strong. The supply pipeline is thinning, and demand from renters remains high thanks to Westchesterâs chronic housing shortage.
đ˘ Office
Itâs not just survivalâitâs recovery. Office space is making a comeback, especially Class A buildings with strong amenities. Leasing activity is up, and landlords are focused on occupancy over rent hikes.
đď¸ Retail
Turnover continues, especially with big box tenants, but rents havenât blinked. Space is limited, and demand is keeping pricing strong. Creative repositioning is active across the market.
đ Industrial
For the first time in years, industrial saw a rise in vacancyâmainly due to trade/tariff uncertainty. Still, rents remain stable, and long-term demand drivers are intact.
đź Investment Sales
Sales volumes and pricing declined. Investors are cautious, but select dealsâparticularly value-add and repositioning opportunitiesâare still trading.
đ Bottom line: While uncertainty around rates and inflation continues, fundamentals across Westchester remain strong in key sectors. If you own commercial property and want a clear plan for whatâs next, Iâd be happy to connect.
đŹ DM me or drop a comment if youâd like a copy of the full Q2 report!
Second Quarter 2025 Westchester Commercial Market Report by Houlihan Lawrence Commercial