Here’s a Look at the Largest Office Projects Coming to Manhattan
Stalled office occupancy, sluggish leasing activity, high construction costs, and rising interest rates have the pace of office construction well below pre-pandemic levels. Still, these developers are banking on future demand for premium space. Much of the strategy, like so much else in real estate, comes down to a well-worn adage: location, location, location.
The largest office projects proposed over the last 12 months are concentrated around major transportation hubs in Midtown, including three that will be a short walk from Grand Central Terminal.