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recent CBRE report on the East Side District, spanning 44 office buildings between FDR Drive and Lexington Avenue from East 34th to 67th Street, reveals a promising outlook for the area. After years of decline following the COVID-19 pandemic, the district is undergoing a significant transformation from an office-centric zone to a mixed-use hub.
The conversion of several office buildings into residential units has driven some tenants to other locations, contributing to a decrease in availability from 25.3% in October 2022 to 18.1% in Q1 2025. However, major renewals and expansions by prominent firms like Bloomberg LP and Kirkland & Ellis have renewed confidence in the market.
According to CBRE, the district's positive momentum is driven by increasing demand and proactive measures taken by owners to address oversupply issues. The report concludes that the East Side District is now a market primed for future growth.
