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Year End 2019 Manhattan Office Construction Report

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Strong demand for office space in Manhattan's newest buildings continued last year. In 2019, 5.74 million square feet (over 15,000 SF) closed in post-2010 constructed buildings, more than double the 2.71 million square feet in 2018 and significantly higher than the volume in 2017 (3.68 million square feet) and 2016 (2.86 million square feet).

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Year End 2019 Manhattan Office Construction Report

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Franklin Wallach

Executive Managing Director

New York

Franklin Wallach is an Executive Managing Director, Research & Business Development at Colliers.  Franklin's role includes a focus on quarterly and monthly trends within the Manhattan and Brooklyn office markets while using multiple databases and maintaining contacts within the industry in order to provide in-depth market analysis to brokers and clients.

Franklin reports on the office market on a monthly and quarterly basis through analytical reports as well as presentations to tenants, landlords and the press. Data analyzed by Franklin includes: average asking rents, availability rates, concessions, absorption, tenants in the market, leasing activity, construction and future tenant demand. Franklin has been quoted by numerous periodicals including The Wall Street Journal and The New York Times.

Franklin’s expertise in synthesizing data into important, poignant and understandable observations has led him to be a key ingredient on a number of wins over the years. He has also parlayed this skill into offering strategic advisory on existing assignments as well as creative planning for business development pursuits and opportunities. Franklin's business development role enables him to formally assist the Colliers' brokerage practice in the pursuit, development and execution of new business.

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