canvas togler
Back to all news

During the Pandemic, They Are ‘Other Boroughs,’ Not ‘Outer Boroughs’

When it comes to the New York City investment sales market, the perception is, typically, that Manhattan is king and the outer boroughs are runners-up. However, during the pandemic, this long-standing perception has not been true. My friend, Josh Muss — who constantly reminds me that they are not the “outer boroughs,” they are the “other boroughs” — surely is smiling today given the relative performance of the other boroughs compared with Manhattan.

And, while it is true that average prices per square foot for sales and rents are higher in Manhattan than they are elsewhere, on a relative basis, properties in the other boroughs are performing much better on a relative sense than they are in Manhattan.

Commercial Observer

Join Our Email List

By submitting this form, you are consenting to receive marketing emails from: . You can revoke your consent to receive emails at any time by using the SafeUnsubscribe® link, found at the bottom of every email. Emails are serviced by Constant Contact