Manhattan's Class B Office Space Bucks the Hive Mind on Demand – Commercial Observer
Statistics suggest that far from doomed to obsolescence, the borough’s commodity spaces have life in them yet.
Stay updated with breaking news from James Metham. Get real-time updates on events, politics, business, and more. Visit us for reliable news and exclusive interviews.
Statistics suggest that far from doomed to obsolescence, the borough’s commodity spaces have life in them yet.
It’s difficult to go up against collective wisdom once it becomes widely accepted. Such is it with the notion of a flight to quality to Manhattan’s Class A office space. The notion — born of the successes that state-of-the-art office towers such as One Vanderbilt and One Manhattan West had in leasing up in the face of a trend toward reduced office demand in New York and other cities — is feeding decisions about what to do with older office buildings, ones that feature just plain old offices, the ones commonly referred to as Class B or commodity space.