After years of downsizing, tech companies are back in Manhattan’s office market. OpenAI just signed a 90,000-square-foot lease at the Puck Building in Soho—its first NYC office—while fintech firm Chime took 84,000 square feet in Flatiron and AI startup AlphaSense grabbed 50,000 in Hudson Yards.

These moves mark the strongest start for tech leasing in 25 years, with over 1.6 million square feet (148,645 m²) leased in Q1 and April alone, nearly matching all of 2023. Driving the rebound: renewed VC funding, AI momentum, and shifting work habits. More firms are committing to hybrid models, ...

Just hours after the FARE Act took effect, rental listings on StreetEasy dropped by over 1,000.

The new law, which shifts broker commission payments from tenants to landlords, is already reshaping New York’s rental market. Some landlords are pulling listings to avoid legal ambiguity, while others are raising rents to offset broker costs.

One-bedroom units that were $5,000 are now being priced at $5,400. Rent-stabilized landlords, who can’t hike rents, are especially strained. While for some this law risks reducing transparency and hitting less well-off tenants, ...