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A class above: NYC’s trophy offices are running out of space

Posted on AllSides April 21st, 2024
From The Right

Demand for the best office buildings in New York has not only recovered — it’s causing a spillover effect. Large tenants that have lease terminations over the next several years are racing to snap up space while it’s hot in trophy towers. Meanwhile, yet-to-be constructed towers — like 175 Park Ave., 347 Madison Ave., 3 Hudson Blvd., 70 Hudson Yards and 2 World Trade Center — are tempting anchor tenants with $200-per-foot rents in hopes of rising from the ground. “We will have a moment of scarcity in the high...

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