NEW YORK CITY-According to the New York Times , New York City’s office properties will continue to see plummeting rents and rising vacancy, as job losses continue to rise and uncertainty pressures the market.

“I have been in business for 12 years. I have never seen it this bad,” Peter Von Der Ahe, VP of investments for Marcus & Millichap tells the Times regarding New York City’s commercial real estate market. His colleagues note the environment hasn’t been this bad since the early 1990s.


NOT FOR REPRINT

© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2025 ALM Global, LLC. All Rights Reserved.