Intelligent Investment

New York City 2025 U.S. Real Estate Market Outlook Midyear Review

August 6, 2025 10 Minute Read

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Executive Summary

Robust demand for office space and sustained interest from retailers have nearly exhausted top-quality supply in the Manhattan market. Sustained tenant interest has expanded to a broader geographic range improving the performance and potential for next-tier assets. While high-quality assets in prime locations will see strong rent growth, commodity spaces will likely stagnate. Positive movement in market fundamentals has restored some buyers’ confidence and should lead to improved investment volumes for office and residential assets. Despite some macro-level headwinds like construction costs, and higher interest rates, there is optimism around the Manhattan market indicating sustained strength.

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Report

2025 U.S. Real Estate Market Outlook Midyear Review

July 30, 2025
While economic uncertainty tempers growth, fundamentals remain healthy with pockets of outperformance across the industry.
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