Despite the pandemic’s negative impact on the Manhattan real estate market, there has been an uptick of office condominium sales since Labor Day. In contrast, the leasing market is reeling as tenants rush to downsize, cancel their leases or sublet their existing office spaces. To better understand how and why office condominiums are faring better than the leasing market, we’ve compiled five of the most significant factors supporting the office condo market when compared to leasing.
Office condominiums are highly sought-after with limited availabilities for sale
Buyers are taking advantage of deep discounts
Bullish international buyers bet on New York City’s recovery
Traditional office condominium buyers, like doctors and jewelers, are largely pandemic-proof
Attractive financing makes office condominiums incredibly affordable
As you can see, the NYC office condominium market is well-positioned to weather the current storm, and will continue to perform well moving forward.
Rudder Property Group is a commercial real estate services firm that specializes exclusively in the sale of office condominiums in the New York metropolitan area. With 20 years of experience in this niche market, the principals of Rudder Property Group have sold over two million square feet of office condominiums with a dollar value in excess of $1 billion. In the small, highly specialized field of office condominium sales, Rudder Property Group is the market leader.
For more information, please contact:
Rudder Property Group
36 West 44th Street
New York, NY 10036
Office: (212) 966‑3611
Mobile: (646) 483‑2203
Office: (212) 966-5638
Mobile: (914) 582-9227