Manhattan Office Market Districts Showing Strongest Resilience in Q4

The disruption sparked by the coronavirus pandemic has been significant within the office real estate market, however some of Manhattan’s districts saw stronger resilience during the fourth quarter of 2020. Leading the way was the corridor along Park Avenue between 44th and 61st Streets, followed by the SoHo/NoHo areas between Canal and 14th Street from 5th to 6th Avenues, and Canal and 13th Streets from 3rd to 5th Avenues. In contrast the weakest corridor was the “Westside,” defined as the area between 41st to 65th Street from 9th Avenue to the Hudson River.