NYC Office Market Experiences a Resurgence

CMBS backed by office buildings in New York City has exceeded 2021 levels and reached $11 billion through August 2025. Notably, capital is also flowing towards older buildings in more desirable neighborhoods that previously struggled to find investors. Most financings were on buildings where leases were already signed with high quality tenants and at lower leverage ratios. Office buildings in less desirable locations continue to struggle to attract financing.

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