The Companies Spending Hundreds Of Millions On NYC Office Space

Major tenants signed big leases in New York City in 2024, in some cases paying handsomely for their new spaces as the city`s office market attempts to claw its way back from dark pandemic times.

Those tenants include TPG, which over the course of its lease will pay Tishman Speyer more than $1B for its 300K SF in The Spiral, according to a CompStak analysis of the highest-valued Manhattan office leases provided exclusively to Bisnow...
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RSK: You wonder why these companies don`t just buy the properties they lease? No one is selling and the asset might not look good on the corporate books. These upgrades are mainly to draw employees back to the office.