Investment in Manhattan real estate is booming — with Union Square storefronts filling up
Manhattan Investment Sales Surge in 2025
A recent report from JLL revealed that Manhattan experienced a significant increase in investment sale activity in 2025, with the office sector leading the way. The total volume of investment sales surged by over 26% compared to the previous year, reaching $11 billion.
This growth marked a return of investor confidence, signaling a positive shift in the market despite the challenges faced during the pandemic years.
Notable among the transactions was the $1.08 billion acquisition of 590 Madison Ave. by RXR and Elliott Investment Management, making it the highest-priced office tower deal in over three years.
David Gincola, a member of the team, commented, “This data reframes the narrative for investors,” while Drew Isaacson highlighted the re-engagement of various investor groups.
“Buyers are no longer just testing the waters, but diving back in selectively,” Isaacson added.
The survey also highlighted the trend of office-to-apartment conversions in Manhattan, with numerous projects either under construction or being evaluated, potentially representing a significant portion of the city’s office inventory.
