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Bank Collapse Fallout Could Extend Office Challenges in Manhattan

Sublet Availability Across New York City Likely To Rise
About 2 million square feet of office space is occupied by distressed banks, a figure that could add to the more than 24 million square feet of sublet space available in Manhattan. (Getty Images)
About 2 million square feet of office space is occupied by distressed banks, a figure that could add to the more than 24 million square feet of sublet space available in Manhattan. (Getty Images)
CoStar Analytics
March 22, 2023 | 7:19 P.M.

While the collapse of three major banks is set to affect lending practices in the near term, it may also negatively impact the Manhattan office market.

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IN THIS ARTICLE


  • Contacts
    • Phil Mobley

      National Director of Office Analytics, CoStar Group