AFIRE recently featured a piece by RXR Chief Strategy Officer, Scott Crowe, outlining why a new Manhattan office building boom is on the horizon, driven by a strengthening recovery in which vacancies in prime assets are approaching single digits and net effective rents are growing at double-digit rates.
The piece explores how the rise of AI increases the marginal value of physical infrastructure for human intelligence, reinforcing demand for high-quality environments and accelerating the bifurcation between Class A assets and the broader market.
Against this backdrop, RXR sees a compelling investment window defined by current valuation dislocations and the scarcity of institutional-quality Class A space.
