The quote in the headline from Dunder Mifflin regional manager Michael Scott, played by Steve Carell on the sitcom The Office, seems to be the philosophy many investors have adopted when it comes to the New York City office market. As a result, 2022 was an active year for office sales with dollar volume citywide jumping 60% year-over-year to $9 billion, a post pandemic high.
Observations on the New York City Office Market
To understand which investors are buying office properties and why, I separated the market into three broad categories:
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