Newer properties on Long Island have performed well during challenging times
Long Island availability rate by year built
- Newly constructed office properties continue to experience lower availability rates, despite a less robust overall leasing environment
- Properties constructed during the 2010s have an availability rate of 6.9%, while those built within the last three years boast an impressively low availability rate of 1.0%
- The trend of tenants opting for quality and modern amenities remains prevalent, influencing their decisions to lease new spaces in the current market environment
September 22, 2023
US-NY-LI Long Island