Office:
November saw a significant rise in office leasing with 3.6 million square feet leased, a 33% increase over October. The year-to-date total is 33.7 million square feet.

Retail:
Gyms, event spaces and schools signed the largest retail leases.

Sales:
Building sales remained brisk, as office owners continue to sell their old office buildings for conversion to residential use.

New York Market Overview

Office:

  1. Ropes & Gray signed a 377,000-square-foot short-term extension at 1211 Sixth Avenue.
  2. Stripe signed a 139,000-square-foot expansion at 28 Liberty Street.
  3. BGC Group signed a 129,000-square-foot renewal and expansion at 55 Water Street.
  4. Robinhood signed a 125,000-square-foot, 10-year sublease at Penn 2.
  5. Current signed a 10-year lease for about 62,000 square feet at Penn 2. The asking rent was $125 per square foot.


Retail:

  1. Convene Hospitality Group leased 50,000 sf at 261 11th Avenue.
  2. Equinox leased 50,000 sf at 261 11th Avenue.
  3. Chelsea Piers Management leased 48,800 sf at 200 Varick Street.
  4. Burlington Stores leased 42,600 sf at 72-22 Broadway.
  5. New York City Charter School of the Arts leased 34,500 sf at 241 Water Street.
  6. Din Tai Fung leased 20,000 sf at 567 Fulton Street.
  7. Ivy Prep Early Learning Academy leased 15,500 sf at 17-19 Hylan Boulevard.
  8. STK leased 12,200 sf at 412 West 15th Street.
  9. Selene by Kyma leased 10,000 sf at 23 Grand Street.
  10. Max Deals leased 9,800 sf at 1562 Fulton Street.


🤝
Tenant Representation: Optimal Spaces acts exclusively as a "Tenant Broker," only representing tenants, never landlords.
⚖️
Unbiased Service: Avoiding conflicts of interest, they provide impartial service, showing a wider range of properties and negotiating the best price.
🗂️
Comprehensive Process: Agents guide clients end-to-end, offering market surveys, floor plans, pricing expectations, and industry contacts.
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Cost Savings: They negotiate rental price and identify/abate "hidden costs."

Why Optimal Spaces –
Tenant Broker

  • No fee for clients renting space.
  • We work for YOU, not the landlord.
  • Save 15–20% on your business costs.
  • Save 100–200 hours of research.
  • Access to all available spaces.
  • Specialized real estate expertise.

Alone or with other broker

  • Miss deals and hard-to-find spaces.
  • Potential conflict of interest (often represent landlords).
  • Only 10% of available spaces are online.
  • Lack of specialized expertise.
  • May not get the best terms or uncover hidden costs.
Why Use a Tenant Broker: Your Advocate in Commercial Real Estate
1. The Crucial Distinction: Whose Side Are They On?
2. It Almost Always Costs You Nothing
3. Access to “Hidden” Inventory
4. Negotiating Beyond Base Rent
5. Time Savings & Process Management
6. Mitigating Risk (the “Gotchas”)
Summary: Don’t rely on the landlord’s agent. A tenant broker is your advocate, provides better data, negotiates a complete package, and typically costs you nothing.
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