---
title: May 2022 Newsletter
description: "Noah & Co. Midtown Market Update: May 2022 - Going all out, office space landlords are taking building amenities to a whole new level  |"
---

[Office Space Blog ](https://www.noahre.com/blog)

# [May 2022 Newsletter](https://www.noahre.com/blog/newsletter-may2022)

 Written by [Ben Blumenthal](https://www.noahre.com/blog/author/ben-blumenthal) | May 26, 2022 4:31:07 PM

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](https://www.globest.com/2022/05/11/commercial-build-outs-are-taking-months-longer)
- Investment firms and hedge funds are [scooping up large blocks of office space](https://fortune.com/2022/05/10/manhattan-office-space-bought-wall-street-firms/) vacated over the last 2 years
- Office usage rates [continue to trend upwards](https://1xe8863tk28l46c6e23aeeqi-wpengine.netdna-ssl.com/wp-content/uploads/2022/05/Kastle_dashboard_separate-2_5.23.22.jpg) from their December/January lows

With a record number of leases [set to expire this year](https://www.globest.com/2022/04/19/record-office-lease-expirations-loom-forcing-companies-to-set-footprints/), 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](https://info.noahre.com/newsletter/may2022).

[View full post](https://www.noahre.com/blog/newsletter-may2022)

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