{"id":1004215428,"date":"2018-04-02T04:52:14","date_gmt":"2018-04-02T12:52:14","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004215428"},"modified":"2025-02-26T02:42:26","modified_gmt":"2025-02-26T10:42:26","slug":"office-landscape-stands-steady-in-manhattan","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/office-landscape-stands-steady-in-manhattan\/","title":{"rendered":"Manhattan Office Landscape Stands Steady"},"content":{"rendered":"<p>By Corina Stef<\/p>\n<div id=\"attachment_1004215431\" style=\"width: 410px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/03\/Office-using-employment-in-Manhattan-click-to-enlarge.jpg\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004215431\" data-attachment-id=\"1004215431\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/office-landscape-stands-steady-in-manhattan\/office-using-employment-in-manhattan-click-to-enlarge\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/03\/Office-using-employment-in-Manhattan-click-to-enlarge.jpg\" data-orig-size=\"1007,433\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;1&quot;}\" data-image-title=\"Office-using employment in Manhattan, click to enlarge\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;Office-using employment in Manhattan, click to enlarge&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/03\/Office-using-employment-in-Manhattan-click-to-enlarge.jpg?w=1007\" class=\"wp-image-1004215431\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/03\/Office-using-employment-in-Manhattan-click-to-enlarge.jpg\" alt=\"\" width=\"400\" height=\"172\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/03\/Office-using-employment-in-Manhattan-click-to-enlarge.jpg 1007w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/03\/Office-using-employment-in-Manhattan-click-to-enlarge.jpg?resize=300,129 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/03\/Office-using-employment-in-Manhattan-click-to-enlarge.jpg?resize=768,330 768w\" sizes=\"auto, (max-width: 400px) 100vw, 400px\" \/><\/a><p id=\"caption-attachment-1004215431\" class=\"wp-caption-text\">Office-using employment in Manhattan, click to enlarge<\/p><\/div>\n<p>Manhattan remains one of the most dynamic office markets in the U.S., with a growing and diversified economy. At the same time, Manhattan\u2019s office market continues to evolve to accommodate new developments and an increase in tenants in the media and technology industries.<\/p>\n<p>Some 93,400 jobs were added year-over-year in March, led by 48,200 new jobs in Education and Health Services and 18,400 new jobs related to Professional and Business Services. Rejuvenated and emerging submarkets were a magnet for office tenants with a young workforce. Submarkets such as Midtown South and Chelsea are adding firms in the TAMI (technology, advertising, media and information) industries, while some in the bedrock financial sector ponder a shift to Hudson Yards, where more than 9 million square feet is expected to come online over the next few quarters. BlackRock\u2019s relocation from the Plaza District\u2014where vacancy reached 10.9 percent in April\u2014to the Hudson Yards megadevelopment is evidence of the slow exodus and a symbol of the changing office landscape.<\/p>\n<p>Strong demand is producing healthy fundamentals, though rent growth may be sparse going forward in some submarkets, as rents have reached cycle peaks and the first wave of the 20 million square feet that is under construction starts to come online.<\/p>\n<p>Sales of office buildings are declining, as the past year saw around $12 billion in transactions.<\/p>\n<p><a href=\"https:\/\/www.yardimatrix.com\/Media\/Downloads\/File\/456-Manhattan-Spring2018OfficeOutlook?utm_medium=Research-Center&amp;utm_source=CPE&amp;utm_campaign=456-Manhattan-Spring2018OfficeOutlook\" target=\"_blank\" rel=\"noopener\"><em>Read the full Yardi Matrix report.<\/em><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Midtown South and Chelsea are adding firms in the technology, advertising, media and information industries, while some financial companies ponder a shift to Hudson Yards, where more than 10 million square feet are expected to come online over the next few quarters.<\/p>\n","protected":false},"author":241,"featured_media":1004258354,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21808,1600,21742,10,21747,37749],"tags":[],"class_list":["post-1004215428","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-featured","category-new-york","category-latest","category-northeast","category-office","category-research-center-cpe"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Manhattan Office Landscape Stands Steady - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/office-landscape-stands-steady-in-manhattan\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Manhattan Office Landscape Stands Steady\" \/>\n<meta property=\"og:description\" content=\"Midtown South and Chelsea are adding firms in the technology, advertising, media and information industries, while some financial companies ponder a shift to Hudson Yards, where more than 10 million square feet are expected to come online over the next few quarters.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/office-landscape-stands-steady-in-manhattan\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2018-04-02T12:52:14+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-02-26T10:42:26+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/04\/MatrixManhattan_cover-no-logo.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"620\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/office-landscape-stands-steady-in-manhattan\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/office-landscape-stands-steady-in-manhattan\\\/\"},\"author\":{\"name\":\"\",\"@id\":\"\"},\"headline\":\"Manhattan Office Landscape Stands Steady\",\"datePublished\":\"2018-04-02T12:52:14+00:00\",\"dateModified\":\"2025-02-26T10:42:26+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/office-landscape-stands-steady-in-manhattan\\\/\"},\"wordCount\":247,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/office-landscape-stands-steady-in-manhattan\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2018\\\/04\\\/MatrixManhattan_cover-no-logo.jpg\",\"articleSection\":[\"Featured\",\"New York\",\"News\",\"Northeast\",\"Office\",\"Research Center\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/office-landscape-stands-steady-in-manhattan\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/office-landscape-stands-steady-in-manhattan\\\/\",\"name\":\"Manhattan Office Landscape Stands Steady - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/office-landscape-stands-steady-in-manhattan\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/office-landscape-stands-steady-in-manhattan\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2018\\\/04\\\/MatrixManhattan_cover-no-logo.jpg\",\"datePublished\":\"2018-04-02T12:52:14+00:00\",\"dateModified\":\"2025-02-26T10:42:26+00:00\",\"author\":{\"@id\":\"\"},\"breadcrumb\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/office-landscape-stands-steady-in-manhattan\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/office-landscape-stands-steady-in-manhattan\\\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/office-landscape-stands-steady-in-manhattan\\\/#primaryimage\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2018\\\/04\\\/MatrixManhattan_cover-no-logo.jpg\",\"contentUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2018\\\/04\\\/MatrixManhattan_cover-no-logo.jpg\",\"width\":800,\"height\":620},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/office-landscape-stands-steady-in-manhattan\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Manhattan Office Landscape Stands Steady\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#website\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/\",\"name\":\"Commercial Property Executive\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/author\\\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Manhattan Office Landscape Stands Steady - Commercial Property Executive","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.commercialsearch.com\/news\/office-landscape-stands-steady-in-manhattan\/","og_locale":"en_US","og_type":"article","og_title":"Manhattan Office Landscape Stands Steady","og_description":"Midtown South and Chelsea are adding firms in the technology, advertising, media and information industries, while some financial companies ponder a shift to Hudson Yards, where more than 10 million square feet are expected to come online over the next few quarters.","og_url":"https:\/\/www.commercialsearch.com\/news\/office-landscape-stands-steady-in-manhattan\/","og_site_name":"Commercial Property Executive","article_publisher":"https:\/\/www.facebook.com\/CPExecutive","article_published_time":"2018-04-02T12:52:14+00:00","article_modified_time":"2025-02-26T10:42:26+00:00","og_image":[{"width":800,"height":620,"url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/04\/MatrixManhattan_cover-no-logo.jpg","type":"image\/jpeg"}],"twitter_card":"summary_large_image","twitter_creator":"@cpexecutive","twitter_site":"@cpexecutive","schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.commercialsearch.com\/news\/office-landscape-stands-steady-in-manhattan\/#article","isPartOf":{"@id":"https:\/\/www.commercialsearch.com\/news\/office-landscape-stands-steady-in-manhattan\/"},"author":{"name":"","@id":""},"headline":"Manhattan Office Landscape Stands Steady","datePublished":"2018-04-02T12:52:14+00:00","dateModified":"2025-02-26T10:42:26+00:00","mainEntityOfPage":{"@id":"https:\/\/www.commercialsearch.com\/news\/office-landscape-stands-steady-in-manhattan\/"},"wordCount":247,"image":{"@id":"https:\/\/www.commercialsearch.com\/news\/office-landscape-stands-steady-in-manhattan\/#primaryimage"},"thumbnailUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/04\/MatrixManhattan_cover-no-logo.jpg","articleSection":["Featured","New York","News","Northeast","Office","Research Center"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.commercialsearch.com\/news\/office-landscape-stands-steady-in-manhattan\/","url":"https:\/\/www.commercialsearch.com\/news\/office-landscape-stands-steady-in-manhattan\/","name":"Manhattan Office Landscape Stands Steady - Commercial Property Executive","isPartOf":{"@id":"https:\/\/www.commercialsearch.com\/news\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.commercialsearch.com\/news\/office-landscape-stands-steady-in-manhattan\/#primaryimage"},"image":{"@id":"https:\/\/www.commercialsearch.com\/news\/office-landscape-stands-steady-in-manhattan\/#primaryimage"},"thumbnailUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/04\/MatrixManhattan_cover-no-logo.jpg","datePublished":"2018-04-02T12:52:14+00:00","dateModified":"2025-02-26T10:42:26+00:00","author":{"@id":""},"breadcrumb":{"@id":"https:\/\/www.commercialsearch.com\/news\/office-landscape-stands-steady-in-manhattan\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.commercialsearch.com\/news\/office-landscape-stands-steady-in-manhattan\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/office-landscape-stands-steady-in-manhattan\/#primaryimage","url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/04\/MatrixManhattan_cover-no-logo.jpg","contentUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/04\/MatrixManhattan_cover-no-logo.jpg","width":800,"height":620},{"@type":"BreadcrumbList","@id":"https:\/\/www.commercialsearch.com\/news\/office-landscape-stands-steady-in-manhattan\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.commercialsearch.com\/news\/"},{"@type":"ListItem","position":2,"name":"Manhattan Office Landscape Stands Steady"}]},{"@type":"WebSite","@id":"https:\/\/www.commercialsearch.com\/news\/#website","url":"https:\/\/www.commercialsearch.com\/news\/","name":"Commercial Property Executive","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"","url":"https:\/\/www.commercialsearch.com\/news\/author\/"}]}},"jetpack_featured_media_url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/04\/MatrixManhattan_cover-no-logo.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004215428","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/users\/241"}],"replies":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/comments?post=1004215428"}],"version-history":[{"count":7,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004215428\/revisions"}],"predecessor-version":[{"id":1004241638,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004215428\/revisions\/1004241638"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media\/1004258354"}],"wp:attachment":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media?parent=1004215428"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/categories?post=1004215428"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/tags?post=1004215428"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}