Home›Real Estate›Commercial›NYC commercial real estate leaders honor executives at…

NYC commercial real estate leaders honor executives at Power Gala

Commercial Observer said New York City’s office sector set records for office rents and leasing demand over the past 12 months, despite higher interest rates and credit concerns.

Reported · Written up by our desk · Commercial

Commercial Observer said New York City real estate leaders gathered Tuesday night at 7 World Trade Center for the outlet’s 19th annual Power Gala, marking the prominence of the city’s commercial property market. The event brought together developers, brokers, and investors, according to the publication, with awards presented to industry executives including Lisa Silverstein of Silverstein Properties.

Commercial Observer attributed the gala’s top praise to recent momentum in the city’s commercial real estate sector, saying the past 12 months saw the market move toward pre-pandemic strength.

The publication said New York City’s commercial real estate sector set new records for office rents and leasing demand, even as interest rate hikes and credit concerns weighed on the market.

Commercial Observer also noted that the 25th anniversary of the Sept. 11, 2001, attacks was an additional backdrop to the event, with the setting and its host, Silverstein Properties, highlighted during remarks.

More like this

Sources