New York City Office
NYC’s current vacancy rate is nearing 30%. Manhattan’s landlords, like most landlords in the U.S., are not recognizing the significant increases in vacancy and businesses’ objectives to occupy less space. Despite record vacancy rates in office buildings, asking rates remain unchanged from record highs in 2019.
This situation presents an ideal opportunity for cost reduction for businesses regardless of how much term is left on the lease. Vestian specializes in building out new plans for real estate that combat Landlords’ reluctance to acknowledge market conditions.
Our approach is an unwavering commitment to create leverage for your tenancy and to reduce cost through a creative and unconflicted advisory - regardless of when your lease expires. There is great opportunity in the Manhattan market and key submarkets like Midtown and Midtown South. Now is the time to act.
NYC Market Research