TW NYC

The office-to-resi conversion discussion rolls on, with 79 Madison Ave. the latest building in the trend, according to this Commercial Observer article. The Gramercy Park submarket has a significant component of older office buildings like 79 Madison (built 1925), which tend to be better suited for residential conversion. The submarket logged robust office absorption in 2024, landing large deals from tenants across a variety of sectors, including fashion (American Eagle, 337,100 SF), tech (IBM, 92,700 SF), legal (Herrick Feinstein, 76,800 SF), and financial (Bridgewater, 63,700 SF).  #ManhattanCRE #OfficeToResi #GramercyPark https://lnkd.in/eqgqr_EJ

Here's an interesting article from the New York Business Journal on one of the hottest topics in Manhattan CRE: residential conversions. It's focused on the Financial District and TW NYC's research is cited in the article. We also dug into this topic a bit in our Downtown Manhattan submarket report: https://lnkd.in/euriuhRg. #ManhattanCRE #DowntownManhattan #OfficeToResi

We are pleased to announce that Aidan Abril has joined Transwestern! As the newest member of the #TWNYC team, Aidan will be providing tenant advisory services and occupier solutions to our clients throughout Manhattan. Welcome, Aidan! #NewHire #TranswesternTeam #CRE #ManhattanCRE #CREcareers

We’d like to share our submarket reports from Q4 - more details on each of the major #Manhattan submarkets: Midtown, Midtown South and Downtown. All the stats, all the charts, all the info!  #TWNYC #Transwestern #NYCcre #ManhattanCRE #CREresearch #Office #Midtown #MidtownSouth #Downtown https://lnkd.in/e4nS43YF https://lnkd.in/eHAtzZ3W https://lnkd.in/euriuhRg

With Manhattan’s office availability above 17%, ownership at Class B buildings are becoming more flexible to compete for tenants. Lauren Davidson Sachs recently shared her insight on this phenomenon and what it means for the office market in 2025 with Bisnow's Sasha Jones. #TWNYC #ManhattanCRE #NYCcre #Office https://lnkd.in/eNUY78x6

An important metric for tracking the health of an #OfficeMarket is monitoring #sublease space and each month #TWNYC publishes a “Sublease Snapshot” with the latest info on the Manhattan office market. This month’s Snapshot shows that sublease space continues to decrease across #Manhattan, as market conditions improve, but there are still pockets with large availabilities. https://lnkd.in/e9vcfrzR #TWNYC #Transwestern #ManhattanCRE #NYCcre #CREresearch

Manhattan office leasing hit a five-year high in 2024, feeding positive absorption and a decrease in availability. Transwestern's Q4 2024 Manhattan office outlook affirms that market confidence is increasing and well-positioned assets remain in demand. Access the report here for all the trends, stats, and information. #TWNYC #Transwestern #NYCcre #ManhattanCRE #CREresearch #Office #Manhattan https://lnkd.in/eNqmVdku

Welcome to TW NYC! Please follow our page for informative updates on the Manhattan commercial real estate market, local and national CRE trends, research reports, and news from Transwestern. Our team – Aidan Abril, Chase Gordon, Corrie Slewett, Jaime Hernandez, Lauren Davidson Sachs, Luke Dillmeier, Nick Kim, Patrick Heeg, Stephanie Pagan Ramirez, Tommy Hines and Tim Katt – looks forward to keeping you up to date! #TWNYC #Transwestern #NYCcre