Quote:
Originally Posted by jmecklenborg
Hudson Yards, within walking distance of Penn, has no doubt attracted more new office construction than has East Side Access. East Side Access can be easily accessed by the LIRR or NJ Transit (plus PATH) but not Metro North. For the the area around Grand Central to attract more office, it would need direct commuter service from New Jersey, either NJ Transit or PATH.
|
Midtown East will continue to attract some high end office activity, the rezoning was consequential. The challenge especially now post-COVID is the comparatively (to other submarkets) high vacancy rates in the area outside the newer Class A builds. A lot of the rationale for building it in the first place is just no longer operative and options in the Hudson Yards area, as you note, are probably more attractive now.