At the close of the year, national and local labor markets remained strong despite the Federal Reserve’s continued efforts to cool demand. National unemployment in November was 3.7% while New York City’s rate was 5.8%, unchanged from October but down 1.7% year-over-year. Read the complete report here: Q4 2022 Manhattan Office Market Report
Q3 2022 Manhattan Office Market Report
At 8.3 million square feet, Q3 2022 was the strongest quarter for Manhattan leasing activity of the year so far, up by 5.1% from the previous quarter. However, activity was down by 4.6% from the same period last year and 24.8% from the pre-pandemic (2017- 2019) average of 11.0 million SF. Read the complete report here: Q3 2022 Manhattan Office Market Report
Midyear 2022 – Manhattan Office Market Report
Manhattan leasing activity remained steady in the first two quarters of the year but has tapered off slightly from a strong second half of 2021 when leasing totaled 19.0 million SF. Read the complete report here: Midyear 2022 Office Market Report
Lee NYC’s Garry Steinberg Quoted in the NY Post
Garry Steinberg was quoted in the NY Post Article “Over the Shop: Retailers Return to NYC with brave new concepts” where he discussed the current popularity of spaces in Williamsburg.
Lee NYC’s Peter Braus Quoted in the NY Post
Peter Braus was quoted in the NY Post on the latest office leasing trends in Manhattan, specifically involving smaller spaces and improved amenities. For the full article, click here.
Vice Media Renews 77k sf Lease at 289 Kent Ave
Vice Media renews its 77,000-square-foot Williamsburg office after Lee & Associates started marketing Vice’s space on the Brooklyn waterfront last fall. Click here to see the full article on the Real Deal.
Lee & Associates’s Steve Lorenzo Featured in the 2022 Annual Top Broker Awards
See Steve Lorenzo featured on Connect CRE for the 2022 Annual Top Brokers award for New York and the tri state area. Click here for the full feature.
Peter Braus Discusses NYC Retail at Bisnow’s Retail Summit
Click here for the full article on the discussion of landlord and tenant creativity alongside lender hesitancy at the Bisnow Retail Summit in April.
Peter Braus Quoted by CBS Moneywatch on pandemic’s effects on NY Real Estate
Lee & Associates Managing Principal Peter Braus is quoted twice by CBS Money watch on How the pandemic killed the five-day office work week, and How the pandemic gave commercial real estate tenants the upper hand. Click the links to read each full article!