realestate

SL Green CEO predicts NYC office market remains robust

Marc Holliday says he'll work with Mayor‑elect Zohran Mamdani; commercial market thrived under past administrations.

T
he Real Estate Board of New York’s holiday luncheon at the Metropolitan Club marked the end of a celebratory week for the industry, following the packed Fried Frank holiday bash at Cipriani on 42nd Street two nights earlier. The atmosphere was upbeat, buoyed by a robust office market that keeps vacancy rates low and has little new inventory on the horizon.

    During the event, SL Green’s chief executive and chairman Marc Holliday shared the stage with celebrated chef Daniel Boulud. After a spirited opening by REBNY president Jim Whelan, Holliday lauded former Mayor Eric Adams as a “cheerleader” for the city, crediting him with advancing rezoning and housing initiatives. When asked whether the office market would maintain its momentum, Holliday dismissed any looming threat. He noted that SL Green will announce plans for the former Brooks Brothers site at 346 Madison Ave. early next year and highlighted the importance of amenities such as the “immersive events” space at Summit on One Vanderbilt, where Boulud’s culinary expertise is showcased. Holliday also praised Vornado’s Steve Roth for his work near Penn Station and expressed a willingness to collaborate with Mayor‑elect Zohran Mamdani, emphasizing that the commercial sector has thrived under administrations of varying ideologies.

    Boulud celebrated his partnership with SL Green, the city’s largest commercial landlord, noting that his Dinex Group restaurants—Le Pavillon, Joji at One Vanderbilt, and La Tete D’or at One Madison—have earned acclaim across the globe, including a return to London in 2026.

    The luncheon drew about 200 guests, including developer‑landlords Jeff Gural and Jonathan Resnick, dealmakers Paul Massey, Mitti Liebersohn, David Goldstein, Mitch Arkin, Lou D’Avanzo, Tom Bow, Leslie Himmel, and retail strategist Joseph Aquino, who promoted his book “Memoirs of a Watch Salesman.” Fried Frank chairman Jonathan Mechanic also attended, fresh from hosting his firm’s holiday party the previous day, which had attracted more than a thousand real‑estate luminaries such as Bill Rudin, Aby Rosen, Jed Walenas, John Cefaly, Mary Ann Tighe, Alexander Durst, and Hal Fetner, and featured the city’s best cold shrimp.

SL Green CEO forecasts robust NYC office market.