Manhattan MarketFlash - Outdoor Space - October 2019

11 oct. 2019

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In recent years, Manhattan office owners and developers have increasingly turned to building amenities as a means to differentiate their properties from the competition.  Outdoor space—from single-floor terraces to full-scale landscaped rooftops-has emerged as a focal point among these amenities.  Many new construction buildings are incorporating outdoor space to enhance the overall tenant experience, while owners of older buildings are creatively repurposing previously unused outdoor space for tenant use. Still, a relatively small proportion of Manhattan office buildings feature some form of outdoor space—but those that do are often generating higher rent.