• Wed. May 22nd, 2024

New York To Help Aging Manhattan Office Buildings With Overhauls

Bynewsmagzines

May 12, 2023
New York is offering tax incentives to help aging Manhattan office buildings with overhauls. (Andria Cheng/CoStar)

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New York is offering help to fund renovations of what it called “underperforming” office stock, which the city said accounts for more than half of Manhattan’s inventory. The move comes as the top U.S. commercial property market is struggling with what CoStar data shows as new record-high office vacancy rates.

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