Optimal Spaces Announces the September 2015 New York Office and Retail Market Overview

NEW YORK, Sept. 11, 2015 /PRNewswire/ -- Manhattan office construction is at its highest level in 25 years, with 19 buildings containing 9.7 million square feet under construction by the end of next year and 4.3 million square feet of new office construction this year.  Even with all this new construction, Manhattan Office vacancy only went up slightly.

Photo - http://photos.prnewswire.com/prnh/20150911/265782

Photo - http://photos.prnewswire.com/prnh/20150911/265783

Retail pricing in Manhattan remains overly optimistic with relatively little new supply and tepid demand due to increased retail prices.  Over time, retail prices should moderate until vacancies are absorbed.

For the latest market research on New York City commercial real estate, contact Stephen Sunderland.  Optimal Spaces releases a monthly analysis of the market, including detailed statistics and graphs.
http://www.optimalspaces.com/market-research

About Optimal Spaces

Optimal Spaces is an industry leader Tenant Representative firm helping clients looking for office, retail and industrial real estate in New York City.  We solely represent our client's interest, unlike most other brokerage firms who represent the landlord's interest.  Optimal Spaces offers strategic advice and execution for commercial real estate, corporate brokerage, market research and consulting.  Optimal Spaces brokers are all experts each with a minimum of ten years in the fields of retail and office.  For more information go to our website www.optimalspaces.com.

Media contact:
Stephen Sunderland
212-258-2700

SOURCE Optimal Spaces

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