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What would we do with a half-billion square feet of Manhattan office space if most of it remains empty? It’s the loaded question about the city’s future that not even our brightest, most optimistic minds want to touch. We’ve been told that office buildings won’t be vacant forever. Once Omicron recedes, a trickling return to workplaces will swell into a mighty wave. Buildings might not be as full as they were pre-COVID but they’ll be full enough to sustain the city’s great commercial tax base and keep landlords from going broke. ...
In a city whose office market depends heavily on financial institutions, several key tenants are downsizing. JPMorgan Chase, New York City’s largest office tenant, cut its commercial footprint by 400,000 square feet last year, Crain’s reported. The bank, which has said it plans to “significantly reduce” its global office footprint in the coming years, also downsized by 300,000 square feet in 2020. The financial institution still rents 8.7 million square feet in the city, according to Crain’s, but an entity of its size — particularly ...
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Browse 4,209 available office spaces for rent in New York City, NY. Find the perfect office rental for your business with SquareFoot.
That’s more than two times the amount of space in the... WeWork’s turnaround plan involves seeking to reduce rent and... distress for the office sector.” There are competitors who...
Office rents in Dubai are rebounding for the first time in six years, rising faster than in New York or London as global banks and businesses expand into the financial hub known for its love of gli...