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Office:
Tenants leased 3.25 million square feet in Manhattan. By the end of August, tenants leased 30 million square feet, up 9.5%. Midtown: available space fell to 27.50 million square feet. Midtown and Midtown South accounted for most of the activity. Midtown tenants signed 1.50 million square feet while Midtown South added another 1.50 million square feet.

Retail:
Fitness was active this month with multiple leases. Otherwise, the market remains strong with a diverse group of Tenants looking.

Sales:
Building sales slowed as the Federal Reserve raised interest rates and the prospect of a second increase put pressure on the building sales Market.

New York Market Overview

Office:

  1. Havas Health leased 254,000 sf at 200 Madison Avenue.
  2. Snap leased 199,000 sf at 2 Pennsylvania Plaza.
  3. General Atlantic leased 150,000 sf at 625 Madison Avenue.
  4. Comcast Advertising leased 140,000 sf at 1540 Broadway.
  5. KeyBank leased 113,000 sf at 1301 Sixth Avenue.
  6. Veritas Capital leased 93,000 sf at 625 Madison to 2029.
  7. On an 85,000-square-foot lease at 1 Penn.
  8. Republic Clothing leased 81,000 sf at 1411 Broadway.
  9. Centerbridge Partners leased 76,000 sf at 345 Park Avenue.
  10. Capital Group leased 70,000 sf at 345 Park Avenue.
  11. Veronica Beard leased 60,000 sf at 26 West 17th Street.
  12. London Fischer leased 58,000 sf at 59 Maiden Lane.


Retail:

  1. Chelsea Piers Fitness leased 76,000 sf at 250 Water Street.
  2. Burlington leased 44,000 sf at 458 86th Street.
  3. Zara leased 22,000 sf at 184 Bedford Avenue.
  4. Happier Grocery leased 20,500 sf at 210 East 86th Street.
  5. Goodland Pickleball leased 15,500 sf at 98-22 Queens Boulevard.
  6. Goodland Pickleball leased 114,600 sf at 05 North 13th Street.
  7. Planet Fitness leased 14,500 sf at Neptune Avenue.
  8. Muji leased 10,000 sf at 100 Flatbush Avenue.
  9. Samudhra leased 10,000 sf at 312 West 43rd Street.
  10. Whole Foods Market leased 9,000 sf at 509 Third Avenue.
  11. Madewell leased 7,300 sf at 1 Rockefeller Plaza.
  12. Crab House leased 6,500 sf at 11 East 13th Street.


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.
🤝
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.
🐷
Cost Savings: They negotiate rental price and identify/abate "hidden costs."
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”)
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