A Familiar NYC

A message from Ben Blumenthal

We're back to video for the TL;DWTR (too long, don't want to read) folks - below is a brief video update on the latest trends that we're seeing in the Midtown office space market!

Quick Bites

• NYC public transportation ridership numbers have continued to increase, with the highest estimated totals occurring on Tuesdays and Wednesdays
• Fresh off Google's announcement, Apple put its return-to-office plans in motion for mid-April
• The demand for Midtown office space has increased, even as NYC unemployment numbers remain at historic lows

With warmer weather just around the corner, it feels as though the NYC we remember and miss will be back in full-force and short-time!

Until next month,

Ben

Ben Blumenthal

Principal Broker

Noah & Co.

As NYC's office utilization continues its rapid rebound and both transit ridership and restaurant visitors have significantly increased, the demand for office space has remained strong - and resulted in a handful of new deals.

Some of the more noteworthy space movement:

• Hermès will move its HQ to 3-floors at 550 Madison
• American Equity & Baird each signed 17k SF leases at 1155 AoA
• 3 new finance tenants will call 590 Madison home
• The Lipstick Building will welcome EC M&A and Aurora Health
• IGI to take Knotel's old space at 545 Fifth Avenue
• Savanna locked in Webster Bank for an extension at 360 Lexington

Demand for office space in Midtown East leads all of NYC

Midtown's office-to- apartment conversion concept gains steam

The next supertall tower? Demolition begins at
570 Fifth Avenue

The DOT will roll out secure bike-parking pods across the city

Venture capitalists continue pouring money into Proptech

Forget the ice:

roller-blading is coming to Rock Center!