Metro Manhattan Commercial Real Estate News & Articles

Empire Station Complex project | Metro Manhattan Office Space

Governor Cuomo’s Ambitious Empire Station Complex On Hold After Heavy Opposition

In early January of this year, New York City celebrated Moynihan Train Hall's grand opening in Midtown Manhattan. The Moynihan Train Hall is a 486,000-square-foot expansion of Manhattan's Penn Station, the central intercity railroad station in New York. Penn Station ...
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Manhattan Q1 Overview | Metro Manhattan Office Space

Office Space Availability in Manhattan Hits Highest Number on Record in Q1 2021

The U.S. office market took a significant hit during the pandemic, with most companies switching to a fully remote or hybrid workstyle. Manhattan, as one of the densest business districts globally, was heavily affected by this switch, and as a ...
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Restaurant industry in NYC recovery | Metro Manhattan Office Space

As Restaurants Reopen in NYC, Retail Leasing Opportunities Abound

The coronavirus pandemic came down on New York City commercial real estate like a sledgehammer, and the retail and hospitality sectors took the biggest hit. The city's once-bustling restaurant scene has changed dramatically, with numerous establishments closing their doors, either ...
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Rethinking office space building classifications | Metro Manhattan Office Space

Is It Time to Rethink the Current Office Building Classification System?

The Covid19 pandemic will undoubtedly significantly impact the way we live, work, and play. It has already caused a fundamental change in how we look at and use office spaces, and it's clear that there is no way back to ...
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Life Sciences Sector Booming in NYC | Metro Manhattan Office Space

NYC’s Life Sciences Office Sector Experiencing Record-High Demand

The Covid19 pandemic has had a massive impact on commercial real estate sectors, from office space and retail to hospitality and multifamily. However, one industry of NYC commercial real estate seems to be thriving, even amid a global pandemic. That ...
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Robinhood eyeing Manhattan office | Metro Manhattan Office Space

Cali-Based Brokerage Robinhood Moving Closer to Wall Street, Plans Manhattan Office Headquarters

The January 28 short squeeze of GameStop stock sent the U.S. stock market into a frenzy unseen since the financial crisis of 2008. When Reddit users decided to join forces to raise GameStop's value, a Texas-based retailer that had been ...
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Port Authority Bus Terminal Revamp | Metro Manhattan Office Space

Midtown Manhattan’s Port Authority Bus Terminal in For $10B Revamp by 2030

Although the Covid19 pandemic has heavily hit New York City, local authorities have made significant progress on major infrastructure projects. The year started strong with the January opening of the $1.6 billion Moynihan Train Hall at Pennsylvania Station. Located within ...
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Commercial tenants in 2021 driver's seat | Metro Manhattan Office Space

NYC Commercial Tenants, In the Driver’s Seat in 2021

The Covid19 pandemic has heavily impacted the NYC commercial real estate market, and as usual, things are likely to worsen before they get better.  Last year, Moody released projections that show the national commercial vacancy rate will reach 19.9$ in ...
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Penn Station | Metro Manhattan Office Space

New Moynihan Train Hall Allows 50% More Space for Penn Station Travelers

A $1.6 billion, 255,000-square-foot expansion of the Penn Station train tracks officially opened to the public on January 1st, 2021. The new Moynihan Train Hall, named after the late Senator Patrick Moynihan, is a significant improvement to Midtown Manhattan's transportation ...
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The Rockefeller Center Christmas Tree | Metro Manhattan Office Space

The History of the Rockefeller Center Christmas Tree

The holiday season in New York City is exceptional. The city has many long-standing traditions that delight locals and visitors alike. These include the Macy’s Thanksgiving Day Parade, the Citi Pond at Bryant Park, or the Christmas Spectacular with the ...
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2021 NYC CRE Trends | Metro Manhattan Office Space

What’s in Store for NYC Commercial Real Estate in 2021?

The new coronavirus has greatly impacted New York City real estate. It’s going to take a long time for the city to bounce back fully. Things might never go back to their pre-pandemic state. But the emergence and approval of ...
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Project Commodore to replace Grand Hyatt New York | Metro Manhattan Office Space

89-Story Mixed-Use Tower Set to Replace Midtown Manhattan’s Grand Hyatt by 2030

A new landmark is set to appear on the New York City skyline in the following decade, setting new height records and further transforming the area surrounding Grand Central Terminal.  Earlier this year, developers and city officials celebrated the official ...
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