Episode 85 - Momentum is Building: NYC Commercial Real Estate with Patrick Steffens of Avison Young

Описание: In Episode 85 of Moving Into the Future, host Jack Macejka, Vice President of National Accounts at The Advance Group, sits down with Patrick Steffens, Senior Director of Office Leasing at Avison Young, to talk about what is really happening inside New York City’s commercial real estate market.

After the strongest year of office leasing activity since 2019, Patrick shares what the numbers actually mean on the ground. From more than 40 million square feet of Manhattan leasing to the continued demand for trophy and Class A buildings near Grand Central and Penn Station, the discussion looks at why companies are committing to New York and how the market is evolving.

Jack and Patrick also explore the growing opportunity for well positioned Class B buildings, how tenant strategy is changing as space tightens, and why proximity, talent, and transit still make New York one of the most powerful business hubs in the world. The conversation also touches on how better data and emerging AI tools are helping brokers and clients make smarter decisions in a rapidly shifting market.

For anyone doing business in New York, this episode offers a clear look at where the office market is heading and what it means for companies planning their next move in the city. Hear the conversation.

Catch more episodes at https://theadvancegrp.com/happenings/...

📌 Chapter Titles:
0:00 | NYC Office Market Rebound
Leasing activity hits its strongest level since 2019.

4:50 | Why Companies Choose New York
Talent, culture, and industry diversity keep NYC competitive.

9:40 | Transit Drives Office Demand
Grand Central and Penn Station reshape leasing patterns.

15:20 | Class A vs Class B Buildings
Trophy space tightens as Class B opportunity grows.

21:30 | New Tenant Leasing Strategies
How companies approach renewals, expansions, and terms.

26:45 | Data and AI in Real Estate
How market intelligence is changing brokerage decisions.