As businesses in the New York City area start to roll out reopening plans and consider their post-covid strategy, the outer boroughs could hold increasing appeal for commercial tenants.
That could be good news for new office building developments in Long Island City and downtown Brooklyn.
Big office space users have been reluctant to leave Manhattan in the past, but now companies are seeking plenty of room for social distancing. Building owners and commercial brokers are forecasting many may relocate their offices away from expensive and crowded Manhattan office space or open satellite offices in outlying boroughs to provide employees more space at a lower cost per square foot.
Recommended For You
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
Meredith Hobbs
Meredith Hobbs writes about the Atlanta legal community and the business of law. Contact her at [email protected] or 404.419.2837. On Twitter: @MeredithHobbs.
