In another sign of the City’s recovery, the Flatiron/23rd Street Partnership has released a ‘quarterly snapshot’ showing that commercial office leasing has shot up a full 33% in the last two months, and pedestrian volume up 80%.
“Leasing activity was led by a handful of large technology companies including Infor (90,000 SF), General Assembly (40,000 SF0),” said the report which gathered and examined real estate data, news and trends from April to June. Although the Partnerships data – and the report’s findings – are specific to NoMad and the Flatiron District, their conclusions are still relevant to the City as a whole, as it’s general economic health is reflected in mico-reports such as these.
Alongside leasing volume, pedestrian traffic and CitiBike usage also increased dramatically in the past months, as the weather warmed up and vaccination became more widely available. And although the City has not fully recovered – pedestrian traffic remains at “63% of pre-pandemic levels,” says the report – all these findings are yet more evidence that the City’s decline, so much bemoaned by politicians and celebrities, has been nothing but headlines.
Read the full report here.