---
title: December 2021 Newsletter
description: "Noah & Co. Midtown Market Update: December 2021 - Recent data trends and the actions of large tech companies pave the way for a strong 2022 to come |"
---

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

# [December 2021 Newsletter](https://www.noahre.com/blog/newsletter_dec2021)

 Written by [Ben Blumenthal](https://www.noahre.com/blog/author/ben-blumenthal) | Dec 22, 2021 9:48:19 PM

Following the Leaders (  
*A message from Ben Blumenthal*) - 

As new variants born out of the COVID-19 pandemic continue to surface, the demand for New York City's office market [has been undeterred](https://nypost.com/2021/11/29/pessimists-were-wrong-a-great-nyc-office-exodus-didnt-happen/). While [data can always be manipulated](https://www.globest.com/2021/12/13/parsing-the-conflicting-data-on-office-tours/) to support the agenda of those reporting it, it's important to recognize what [the most competitive and valuable companies in today's economy are doing](https://commercialobserver.com/2021/12/return-to-office-plans-companies-labor-day-october/).

 

From the outset of the post-pandemic conjecture, it's been key to focus less on what has been "said" and more on what has been "done" - namely with what many of the top tech companies have decided with respect to their office space.

 

Apple, Google, Facebook, Amazon, Microsoft, and many others have continued to make large-scale office commitments in New York City with an ever-increasing [war for talent](https://www.nytimes.com/2021/10/08/your-money/health-benefits-employer-costs.html). Beyond the well-known household names of the public companies, NYC is also home to 80 Unicorns (private companies with a valuation of $1B+) with a cumulative value of $168B ([see more here](https://www.linkedin.com/posts/benblumenthalre_hows-the-office-space-market-decembers-activity-6876521204992282625-d1PS)).

 

VC's also invested over $38B into NYC startups in the first 3 quarters of 2021, 154% greater than the prior record. These cash-infused companies are just one group in NYC's diverse economy that are hiring, investing in the city, and taking office space. 

 

As [more workers may already be back in the office than it appears](https://www.globest.com/2021/12/14/more-workers-may-be-back-in-the-office-than-you-realize), many landlords (with updated and attractive buildings) are expecting a very strong 2022 for NYC real estate.

 

I wish you all much success and prosperity in the coming year. 

 

Best regards,  
Ben

**Ben Blumenthal  
**Principal Broker  
Noah & Co.

 

[View full post](https://www.noahre.com/blog/newsletter_dec2021)

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