May 2022 Newsletter

The Tenant-Amenity Revolution (
A message from Ben Blumenthal) - 

The warm May weather has us back on the streets - and returning to video for the TL;DWTR (too long, don't want to read) folks.
Below is a brief update on the latest trends that we're seeing in the Midtown office space market.

Quick Bites

• Supply chain and labor shortages are delaying tenant improvement projects and buildouts by approximately 3 months
• Investment firms and hedge funds are scooping up large blocks of office space vacated over the last 2 years
• Office usage rates continue to trend upwards from their December/January lows

With a record number of leases set to expire this year, the writing is on the wall for a busy summer season in the office leasing market.

Until next month,
Ben

Ben Blumenthal
Principal Broker
Noah & Co.

For the rest of our May 2022 Newsletter, click here.