Breaking News
office buildings
NYC workers continue to return to office as building 'visitations' move closer to pre-pandemic levels
The return-to-office trend continues apace. Manhattan office “visitations” in May were 74 percent of 2019 levels, compared with 70 percent in May of 2023, according to the Real Estate Board...
Blackstone boosts footprint at 345 Park Ave. with massive lease expansion
Blackstone’s imminent deal to expand by 250,000 square feet at its global headquarters, Rudin Management’s 345 Park Avenue, is a robust indicator on two playing fields: Park Avenue and the world....
NYC plan to convert obsolete office buildings into residential units would solve crisis — but City Council stands in the way
The biggest obstacle to residential conversion in New York isn’t the cost but archaic zoning rules that severely limit the areas and numbers of buildings eligible for conversion.
Manhattan office leasing soared 70% in May -- Midtown deals lead the charge
Midtown alone say nearly 2 million square feet of office space snapped up, according to a Colliers market report.
REBNY data shows healthy office occupancy, edging closer to pre-pandemic levels
Never mind foreclosures and predictions of doom. The Real Estate Board of New York’s latest analysis of office building “visitations” presents a less pessimistic take on the endlessly discussed and debated...
Fast-growing Florida retirement haven is luring business away from Wall Street
Boca Raton is shedding its reputation as a retirement town filled with geezers in golf carts.
Park Avenue vacancy rate lower than before pandemic after recent large deals
It’s no secret that some Midtown office corridors are doing better than others. Even so, a new Savills survey contains a remarkable finding: Park Avenue’s current availability rate of 8.9%...
WeWork is shutting down its NYC headquarters
The co-working giant, as part of its bankruptcy restructuring, will shed its 300,000-square-foot lease at Tower 49 in Midtown.
Rudin family plans to sell downtown's 80 Pine St. to Brooklyn developer Bushburg for $160M
If the prospective sale goes through, the new owners might attempt to convert the building to apartments as several other downtown owners are in the process of doing.
Famed MONY tower that inspired hit song sells for a lot less cash than it fetched a decade ago in troubling sign for NYC market
The fire-sale price reflects the crisis in the investment-sale market for commercial properties, where some office values have tumbled by up to 50%.
Billionaire's new building to soar over Midtown for one very specific reason
Billionaire hedge funder Ken Griffin, along with Vornado Realty Trust and Rudin, aim to breathe life back into a pocket of Midtown that COVID left empty.
How empty office buildings could help NYC solve its housing crisis
The city desperately needs more rental housing. Hundreds of obsolescent older office buildings stand near-empty. So why not use one problem to solve the other?
Former CBS home Black Rock nearly 90% leased after amenity-filled transformation
Twentieth Century office towers can’t survive in the Twenty-First on their historic reputations, architectural distinction or landmark status. Companies today place a higher value on an older property’s contemporary assets...
Amazon to slash office space — billion-dollar cutbacks spark speculation
Amazon, the tech titan synonymous with sprawling and amenity-rich offices, has announced plans to drastically reduce its office footprint in the coming years.
Manhattan offices set new record high for emptiness
The number of vacant offices in Manhattan just hit a new record, according to new numbers from Colliers -- a bleak benchmark four years after COVID-19.
Lower Manhattan office space 'tours' on the rise despite Downtown's struggling properties
The Downtown office market is in even worse shape than widely reported data indicate, according to several major dealmakers. One of them, an industry legend not given to doom-and-gloom scenarios,...
Unpaid NYC property taxes to hit record $880M this year — thanks to Letitia James: 'There are no consequences'
New York City officials are forecasting overdue property taxes will surge to a record $880 million in the current fiscal year -- and they say it's because they've lost the...
San Francisco can't bounce back as office vacancies reach all-time high
The city's once-booming office market is feeling like more of a ghost town, as vacancies soared to 36.6% in the last quarter, according to CBRE.
More NYC landlords tout 'fun' office amenities despite vacancy uptick
The fun-factor train keeps on chugging along at the city’s premier office buildings as landlords struggle to arrest an alarming increase in vacancies, which now top 20% overall. The Post reported...
NYC landlords luring workers back to offices with pickleball, golf simulators, arcade games and gourmet food
Forget the boring office buildings of yore.