Press enter

Manhattan to add nine million square feet of office space | 20 June 2014

Around nine million square feet of office space will be made available in Manhattan over the next two years, a new report from the New York Building Congress has revealed.

According to wsj.com, more than two-thirds of the office space will be split between three towers – 4 World Trade Center, One World Trade Center and 10 Hudson Yards. If all the space is finalised, it will be the largest amount seen in a th ree-year period since 1990. Moreover, a further ten million square feet of space could become available at six office buildings between 2016 and 2018.

Richard T. Anderson, president of the New York Building Congress, feels positive about the figures.

“It’s a vote of confidence in the market, which we think is long overdue,” he said. “As a global center of finance and office-related functions, the city needs to regenerate its office space.”

However, there is some concern that not all of this new office space will get filled, as job growth is slowing in office-related sectors such as finance and law. Not only that, but employers are cutting costs and this is effecting the amount of office s pace needed. Now the average worker is only given around 200 square feet in new and renovated buildings; this is a decline from 250 square feet, reports bloomberg.com.

The views expressed in this post are those of the author and are not necessarily those of Qube Global Software. All facts are verified where possible directly by the author.

Share this story
Posted by Matt Roobol

More News

Qube Global Software wins Industry Supplier of the Year Award for 2nd consecutive year | 2 December 2016

Qube Global Software won Industry Supplier of the Year at the News on the Block Property Management Awards for the second year running.

Qube Global Software to host webinar with the Facilities Show | 24 November 2016

We have partnered with the Facilities Show to host an exclusive webinar on the relationship between facility, property and estate managers and their service providers and contractors.

Qube Global Software shortlisted as Industry Supplier of the Year | 9 November 2016

We are delighted to announce that Qube Global Software has been shortlisted in the Industry Supplier of the Year category at the Property Management Awards 2016, hosted by News on the Block.

This website uses cookies. By continuing to browse this website you are agreeing to our use of cookies. Please see our cookie policy for more details. more information

The cookie settings on this website are set to "allow cookies" to give you the best browsing experience possible. If you continue to use this website without changing your cookie settings or you click "Accept" below then you are consenting to this.

Close

This website uses cookies. By continuing to browse this website you are agreeing to our use of cookies. Please see our cookie policy for more details. more information

The cookie settings on this website are set to "allow cookies" to give you the best browsing experience possible. If you continue to use this website without changing your cookie settings or you click "Accept" below then you are consenting to this.

Close