Office Space

Despite the slight increase in demand in September, the VTS Office Demand Index (VODI) analysis has generally been trending downward in recent months amid rising interest rates and a cooling labor market. Its reported uptick ended three consecutive months of losses and the report showed specific interest in smaller spaces. Nationally, demand for office space increased 4 … [Read more...] about Uptick in Office Demand Snaps Three-Month Losing Streak

  Office owners have been dealing with more than two years of uncertainty around the future of their properties, but the demand for their space is about to get an even tougher test. Roughly 11% of the leased office space in the U.S. is set to expire this year, according to JLL, which equates to about 243M SF — a 40% jump from 2018. By 2025, 900M SF of office leases … [Read more...] about With 900M SF Of Office Leases Expiring By 2025, Owners Are Getting More Aggressive

  Assemblymember-elect Lester Chang was sworn into the New York State Assembly and cast his first vote this week, even as his colleagues continue to debate his future in state government after an investigation cast doubts on whether he meets constitutional residency requirements. “Huge congratulations to Assemblyman Lester Chang (R-C, Brooklyn) on being sworn in and … [Read more...] about Lester Chang takes office as Assembly mulls expulsion vote after residency investigation

  Place your bets. The bidding process for three Vegas-style downstate casino licenses is moving forward after state officials voted late Tuesday to formally solicit applications with an asking price of at least $500 million each. The state Gaming Facility Location Board approved rules and released a request for applications as a number of major players eye opening … [Read more...] about Bidding open for up to three $500M NYC casino licenses

  After two years of overhyped return-to-work prognostications, many desks around the nation still sit vacant. But on some empty floors of midtown Manhattan office buildings, unused space has lately been playing a new role: film set. The transformation from a real-life office into a facsimile on the small screen is part of the business strategy of Backlot, a location … [Read more...] about Getting creative with vacant office space: storage, gym, film set

  Manhattan is getting a new, marine science-inspired play area to teach kids about wildlife. The Hudson River Park Trust last month broke ground on the 4,000-square-foot play area at Pier 26 in Tribeca. Designed by OLIN, the Pier 26 Science Play Area will feature interactive sculptural elements where children can play while learning about marine life and the … [Read more...] about See the marine science-themed playground coming to Hudson River Park’s Pier 26

10 & 30 Hudson Yards in New York City by KPF. Photo: Connie Zhou. Following last week’s look at an opening for a Project Manager at site design group, we are using our first Job Highlights series of 2023 to explore an open position on Archinect Jobs for an Architect at the NYC Department of Citywide Administrative Services (DCAS). The role, sitting within the … [Read more...] about Your next role could be to support the future of New York City’s publicly-owned architecture

  New York City’s historic Renwick Ruin looks like a crumbling castle from medieval England, ivy blanketing its Gothic Revival shell and gaping holes piercing its walls. Erected in 1854 on Roosevelt Island, the dilapidated smallpox hospital is a quirky landmark that could act as a totem for its unique location. Just as 1950s brutalist architecture brushes against modern … [Read more...] about Roosevelt Island Operating Corporation, Under CEO Shelton Haynes, Finalizes Riverwalk Neighborhood With Developers

  Green shoots? Those who lived through the Great Financial Crisis of 2008 and/or the dot-com bust of 2002 will remember that phrase: the deep and fervent hope that the market would revive and New York would be New York again. Well, it may just be happening again.       People whose job it is to study the commercial real estate market say they are seeing a … [Read more...] about Manhattan’s ‘Commodity’ Office Space Might Be on the Mend

  The life sciences development boom in New York City picked up steam in 2022 as the real estate market is pulling out of the pandemic slump, and the city’s capacity for further expansion of labs and incubators is significant. Less than 4 percent of NYC office space — about 1.9 million square feet — is currently developed for life sciences use, and deals are rapidly … [Read more...] about Life Sciences Development in New York City Promises to Make City an Industry Hub