Articles of the week ending September 4th
Colliers report finds that Manhattan’s office market supply is tightest since 2020
By Julian Nazar, Crain’s New York Business
Manhattan office availability fell below 12% in August for the first time in over four years, with supply reaching its lowest level since September 2020.
Homogenization of the knowledge worker
By JLL, Crain’s New York Business
Finance, technology, and AI firms are competing for the same highly skilled talent, driving demand for premium Manhattan office space and pushing rents higher as top tier supply becomes increasingly limited.
Investor General Atlantic to Anchor Related’s 625 Madison Avenue in 150K-SF Deal
By Amanda Schiavo, Commercial Observer
Related Companies secured General Atlantic as the anchor tenant for over 150,000 SF at 625 Madison Avenue, with Veritas Capital also reportedly leasing 92,743 SF.
New York’s office comeback threatened by surging Treasury yields
By Aaron Elstein, Crain’s New York Business
Rising interest rates are threatening Manhattan’s office recovery by increasing borrowing and development costs, putting pressure on office owners and major projects despite strong demand for space.
Finance, AI help New York outpace US leasing trends
By Victor Rodriguez, CoStar Analytics
Finance, law, and AI firms are driving New York’s office leasing recovery, with these industries competing for a shrinking supply of high quality trophy space and helping Manhattan outperform national leasing trends.
Havas Health signs major expansion in New York
By Andria Cheng , CoStar News
Havas Health expanded its footprint at 200 Madison Avenue by 64,657 SF to 254,118 SF and extended its lease for 15 years through at least 2041, reflecting continued demand for high quality, amenity rich Manhattan office space.