Recent market reports across retail, multifamily, and office show that New York commercial real estate closed 2025 with stable fundamentals and continued transaction activity, despite ongoing economic and policy changes.
Retail
Retail vacancy across the New York metro remained low at approximately 4.2% at year-end. Demand for small-format urban retail space continued to offset large-format store closures, particularly in malls and power centers. New retail construction remained limited, representing roughly 0.1% of total inventory, with most new deliveries tied to mixed-use developments.
Multifamily
Multifamily sales volume in New York City declined in Q4 2025 compared to the prior quarter. However, the number of closed transactions remained relatively stable, indicating continued deal activity despite lower dollar volume. Market commentary cited recent changes in city leadership and rent policy discussions as contributing factors to transaction timing.
Long Island Office
The Long Island office market recorded approximately 490,000 square feet of positive net absorption in 2025, marking the first full year of positive absorption since 2021. Overall vacancy declined to 13.1%, down year-over-year. Growth in occupancy was observed across multiple submarkets, including Eastern Nassau. No new office construction was reported as underway at year-end.
Sources
Cushman & Wakefield, New York Retail Market – Q4 2025
Cushman & Wakefield, Long Island Office MarketBeat – Q4 2025
CRE Daily, Multifamily Sales Slide in NYC Market
*The article synthesizes consensus themes across these sources rather than quoting a single report verbatim.
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