Midtown Manhattan Office Availability Is Heading for a Post-Recession High
Available office space in midtown Manhattan in the fourth quarter remained far below the post-recession high, but that may not last long.
As buildings go up and tenants move to newer digs outside of core Midtown — the flashy Hudson Yards site on the far west side, for example, or the World Trade Center in lower Manhattan — available space could surge to 14.4 percent of the market by 2021, depending on employment, Savills Studley forecasts. That would be the highest rate since the global financial crisis…
Categories : Commercial Real Estate