Odd Lots · Wednesday, July 15, 2026
Governor Kathy Hochul reported a significant and unforeseen surge in commercial real estate leasing in New York City over the past few months, countering earlier predictions of a market downturn. She cited this as a strong indicator of business confidence, with major companies like American Express reaffirming their commitment to the city.
“I cannot get over the number of leases for commercial space that have been let in the last three four months. It is extraordinary. No one could have foreseen this.”
“People remembers a few years ago after them during the pandemic. I first I become governor. During the middle of the pandemic. People said, real estate in New York City is dead. Like you turn off the lights, it is dead. It is on fire.”
“He says, We're not going anywhere. There's only one New York. That is what I'm hearing from businesses where you want to expand into another location where your customers are, That's what I'm hearing. We want to go closer to customers. I get it, but this is home. This is our identity, and I will protect that identity.”