Flatiron 23rd Street Partnership Releases Q2 2021 Quarterly Market Snapshot

The 2nd quarter 2021 report released by the Flatiron Bid revealed that commercial Class A and Class B office leasing in the district increased 33%, “mirroring pre-pandemic volumes seen in Q1 2020.” However, the availability rate in Flatiron and NoMad rose 3.9% in large part due to 23 West 20th Street and The Textile Building, 295 Fifth Avenue, which is undergoing major renovations, entering the market—adding 62,000 square feet and 650,000 square feet respectively. Retail leasing has also seen improvement, with 40 new ground leases signed during the period, while pedestrian foot traffic levels rose 37% quarter-over-quarter as COVID-19 restrictions loosen.

Source:    https://www.flatirondistrict.nyc/uploaded/files/Reports%20&%20Data/Quarterly%20Reports/2021/Q2%202021%20Report%20Final.pdf