Investors, including Blackstone and wealthy private individuals, are seeking office properties in New York as companies encourage employees to return to physical offices.
In Europe, the growing demand for high-quality office spaces is driving rents to record levels in central London, sparking optimism among investors, despite overall office sales volumes remaining at multi-year lows.
Real estate investors, advisors, and bankers report an increasing demand for top-tier office spaces in New York, prompting them to pursue more deals.
Currently, Blackstone's office portfolio represents less than 2% of its total properties, compared to over 60% in 2007, according to the company’s data.
