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Manhattan Office Rush Hits Peak | Real Estate News
Manhattan’s office market is exploding with demand as companies race to secure prime spots before they vanish—new towers like 70 Hudson Yards are already half-leased, with construction accelerating toward a 2028 finish. With vacancy rates near zero in Hudson Yards and Park Avenue, 80% of new Manhattan office space is pre-leased, forcing firms like Simpson Thacher, Starr, and McDermott Will & Schulte to commit years in advance. Premium locations now command rents over $200 per sq ft—with some hitting $300—driven by the need to attract top talent in a competitive, amenity-rich landscape that…
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