- As the New York City office market continues to evolve in the wake of Covid-19, a different set of companies are driving absorption in this new environment.
- Monthly absorption improved in July, then ticked positive in August for the first time since the start of the pandemic and remained positive in September.
- The tenants driving this absorption are emerging and fast-growing firms, particularly those in the TAMI industry, that are increasing their New York City footprint.
- The average age of companies that signed deals since the start of Covid is younger than that of 2019.
- The average age of companies currently in the market dropped from 2019.
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- Growing Companies Drive a Rapidly Changing Market
Growing Companies Drive a Rapidly Changing Market
Fall 2021
As the New York City office market continues to evolve in the wake of Covid-19, a different set of companies are driving absorption in this new environment. The tenants driving this absorption are emerging and fast-growing firms, particularly those in the TAMI industry, that are increasing their New York City footprint.
