Office

The metro's new-supply pipeline is finally picking up after several years of low-level construction activity.

Office construction activity is especially strong in Midtown South, with a particular focus on the Chelsea and Times Square–Hell’s Kitchen submarkets.

Despite record-breaking deliveries, demand for office space continues to outpace supply amid building restrictions and tax constraints.

Driven by a robust development pipeline, the metro’s expansion is showing no signs of slowing down.

Transactions in the metro are on track to surpass 2018's total.

The development pipeline comprises 1.7 million square feet of office space, with construction activity concentrated in Center City.

The metro’s office landscape is going through a major transformation, with several large mixed-use developments underway.

Office investment gained momentum, with $1.1 billion in deals closing during the first seven months of the year.

Breakthroughs in artificial intelligence and life sciences have cinched the metro’s status as a tech hub, while driving up demand for office space.

Rising demand and a limited availability of high-quality stock have fueled development activity across the metro.

As demand for office space continues to outpace supply, the metro’s development pipeline is showing no signs of deceleration, with 1.7 million square feet of space underway.

Employment growth in the metro's office sector is strong, driven by corporate relocation and expansion plans.