Midtown Archives - Rava Realty

Good signs for the Manhattan office market

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Last month, Manhattan’s office market surged, nearing pre-pandemic levels, led by robust leasing in Midtown. Nearly 2 million square feet were leased there, contributing to a total of 3 million square feet across all central business districts in May, a 70% increase from last year. Key transactions included Bloomberg’s large lease at 731 Lexington Avenue, the largest since 2019, and substantial leases at 22 Vanderbilt, highlighting market dynamics. These large deals significantly influenced market activity, but despite challenges, the market shows signs ...

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Young, hip New Yorkers are bringing Midtown back

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Move over, Williamsburg. Here comes … Midtown?

The skyscraper-laden district stretching from 34th Street to Central Park South was disemboweled by the pandemic and continues to bleed office tenants. But while older office towers languish, young home buyers have flocked to the neighborhood, eager to take advantage of prices that haven’t soared like they have in the rest of Manhattan and much of Brooklyn.

The pandemic accelerated a pre-pandemic trend of hipper residents moving to Midtown, as stodgy bankers and executives moved away, usually for bigger spaces elsewhere in the city or ...

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