NYC News

City’s office-building boom won’t be enough

 

crainsnewyork.com – Greg David

Manhattan is seeing a boom in office-space construction, the New York Building Congress reported recently. The organization projects just under 20 million square feet will be added between this year and 2018.

Sounds good? No, it is not enough. That is an important issue to understand as the de Blasio administration begins the process of winning approval for a major rezoning of the midtown east corridor to encourage new construction.

Let’s start with another number: 450 million, which is the total amount of office space in Manhattan. That would the 2015-2018 increase about 4%.

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Categories: NYC News

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