On the surface, the news from the New York City office sector may look grim: vacancy rates nearing 20%, occupancy rates stubbornly stuck at around 50%, interest rates rising, values dropping, anemic investment sales activity and owners giving keys back to lenders.
Fortunately, that isn’t the full story. As I discussed in my previous Forbes article, landlords are holding onto Class A, well- tenanted buildings even as they let go of others. Additionally, four other strategies show long-term health for the office sector:
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