Interesting and somewhat conflicting data is being shared about the volatile New York City office market, especially regarding Class A or trophy assets.
The VTS Office Demand Index (VODI) for February showed that these higher-quality buildings had accounted for a growing share of tours while Moody's Analytics said the amount of leased Class A office space in central business districts fell in Q4 for the first time since 2021.
"Any property owner that says, 'Oh we're fine' is a little bit fooling themselves," Thomas LaSalvia, director of economic research at Moody's Analytics, told the Wall Street Journal in a recent article about the growing signs of distress in high-end office buildings.
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