NYC Office Construction On Pace to 25 Year High

NYC new office construction in 2015 is expected to reach 4.3 million square feet; 79% more than in 2014

August 27, 2015

The Wall Street Journal

According to the New York Building Congress, new office space construction in New York City is expected to reach 4.3 million square feet in 2015, a 25-year high in 2015. That is a 79% increase from the 2.4 million square feet built in 2014.

US Office Construction Highest Since 2009

The New York Building Congress projects that 9.7 million square feet of new office space will be construction in 19 buildings across Manhattan in 2015 and 2016. The Building Congress expects the pace of office construction to pick up in the next two years and reach 5.4 million square feet in 2016 and 4.9 million square feet in 2017. A slightly smaller 4 million square feet is projected for 2018.

(more on the NYC office space construction boom...)

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