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Park Avenue Office Availability Hits Six-Year Low

The Blackstone, JPMorganChase, and MetLife deals have led the way.

By Anthony Russo | February 28, 2025 at 05:02 AM

For a while now, Manhattan’s office sector has been booming. But one part of the city has been particulary active — all office commercial buildings located on Park Avenue.

The latest report from Avison Young finds that the availability rate for those properties in that portion of the city dropped 280 basis points year-over-year to 8.2 percent in the fourth quarter That marks the lowest rate that Park Avenue has seen since 2018.

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