Not too long ago, office was in a scary place, as remote work seemed like it would be the new normal. However, the asset class has continued to improve — leading some experts to believe that it's bottomed out — with Manhattan leading the way in the recovery.
During ULI New York: Real Estate Outlook 2025 at NYU Stern School of Business, a panel of Rohit Aggarwala, chief climate officer, City of New York, Sarah Hawkins, CEO of East Region for Hines, Lisa Pendergast, executive director for nonprofit, Commercial Real Estate Finance Council, and L.D. Salmanson, CEO of real estate software firm Cherre, discussed some emerging trends in CRE.
NEW YORK'S RESILIENT OFFICE SECTOR
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