{"id":135287,"date":"2025-08-10T21:14:16","date_gmt":"2025-08-10T21:14:16","guid":{"rendered":"https:\/\/www.europesays.com\/us\/135287\/"},"modified":"2025-08-10T21:14:16","modified_gmt":"2025-08-10T21:14:16","slug":"third-ave-outlook-brightening-cbre-says","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/us\/135287\/","title":{"rendered":"Third Ave outlook brightening, CBRE says"},"content":{"rendered":"<p>A CBRE report on the East Side District \u2014 44 office buildings between the FDR Drive and Lexington Avenue and between East 34th to 67th Street found a brightening outlook for the area, following years of decline that started when COVID-19 struck.<\/p>\n<p>CBRE identified a \u201csignificant transformation\u201d as it evolved from an \u201coffice-centric\u201d area to mixed use.<\/p>\n<p><img style=\"aspect-ratio:0.6640625;display:block\" loading=\"lazy\" decoding=\"async\" data-modal-image=\"36782611\" width=\"392\" height=\"590\" src=\"https:\/\/www.europesays.com\/us\/wp-content\/uploads\/2025\/08\/731-lexington-avenue-houses-offices-52301759.jpg\" alt=\"731 Lexington Avenue at night.\" class=\"wp-image-36782611\"  \/>The residential and office tower located at 731 Lexington Avenue. BLOOMBERG NEWS<\/p>\n<p>The ongoing or planned conversions to apartments of \u00a0a half-dozen buildings, four of them on Third Avenue, drove office tenants to other locations. <\/p>\n<p>Partly as a result, availability fell from 25.3% in October 2022 to 18.1% in the first quarter of 2025.<\/p>\n<p>Major renewals and expansions by firms such as Bloomberg LP and Kirkland &amp; Ellis\u00a0renewed confidence in the market.<\/p>\n<p>\u201cThe district has seen some positive momentum due to increasing demand along with actions taken by owners to address oversupply,\u201d CBRE found, and called it \u201ca market primed for future growth.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"A CBRE report on the East Side District \u2014 44 office buildings between the FDR Drive and Lexington&hellip;\n","protected":false},"author":3,"featured_media":135288,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5122],"tags":[5229,3638,64,15833,405,403,5226,5225,5228,5227,7746,4329,7747,67,586,132,5230,68,2969],"class_list":{"0":"post-135287","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-new-york","8":"tag-america","9":"tag-bloomberg","10":"tag-business","11":"tag-cbre","12":"tag-new-york","13":"tag-new-york-city","14":"tag-newyork","15":"tag-newyorkcity","16":"tag-ny","17":"tag-nyc","18":"tag-office-buildings","19":"tag-real-estate","20":"tag-realty-check","21":"tag-united-states","22":"tag-united-states-of-america","23":"tag-unitedstates","24":"tag-unitedstatesofamerica","25":"tag-us","26":"tag-usa"},"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@us\/115006542097013496","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/135287","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/comments?post=135287"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/135287\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media\/135288"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media?parent=135287"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/categories?post=135287"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/tags?post=135287"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}