Office Space Is Now Being Razed or Converted Faster than It’s Being Built — For the First Time in 25 Years

While return-to-office mandates may be the talk of the town, office conversions and demolitions reign supreme.

[...]

There are significant silver linings to the decline of office construction.

Steven Shoumer, a partner at Blank Rome and co-chair of the firm’s real estate group, told The Post in an email that shrinking supplies of new offices will help to stabilize rents as return-to-office demands grow.

“However, it will be interesting to see if office space availability gets tighter with vacancy rates lowering in the coming years, and consequently causes office rents to rise (which would also be good for building owners),” Shoumer wrote.

To read the full article, please click here.

"Office Space Is Now Being Razed or Converted Faster than It’s Being Built — For the First Time in 25 Years," by Emily Davis was published in the New York Post on June 5, 2025.