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NYC Office Construction Projected to Ramp Up in Years Ahead

The three-year total of 15.1 million square feet of office space, spread across 13 new office towers, would represent the best three-year office production period since 15.3 million square feet of commercial office space was completed between 1988 and 1990.

By John Jordan | johnjordan | Updated on September 19, 2017

Photo of Carlo Scissura Carlo A. Scissura, president, CEO of the New York Building Congress

NEW YORK CITY—A late decade surge in new office construction will push activity to levels not reached in 30 years in New York City, the New York Building Congress predicts.

The New York Building Congress released a report today that indicates new office construction will heat up significantly in n 2018 and 2019 Based on a review of Real Estate Board of New York data, the Building Congress estimates that 2.3 million square feet of new office space will be completed in Manhattan in 2017, followed by a dramatic surge to 7.2 million square feet in 2018 and 5.6 million square feet in 2019.

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