NYC’s Top 10 Biggest Landlords
By Lauren Elkies Schram April 29, 2015 9:00 am
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Any look at a power list should include a glance at the raw data. The city’s four biggest landlords control nearly 20 percent of the market, blowing away the rest of the building owners, according to data compiled by CoStar Group for Commercial Observer. The list includes existing office buildings, as well as those under construction and under renovation.
Brookfield (BN) Asset Management has the biggest market share of property in New York City (4.98 percent) with 27.5 million square feet, as ranked by rentable building area, followed closely behind by SL Green (SLG) Realty Corp. (4.93 percent) with 27.2 million square feet. Vornado Realty Trust (VNO) ranked third (4.46 percent) with 24.7 million square feet.
After Tishman Speyer in fourth place (4.14 percent) with 22.8 million square feet, the remaining 10 biggest landlords have market shares ranging from 8.9 million square feet (1.62 percent) to 13.4 million square feet (2.43 percent). All together, the 10 top landlords control 30 percent of the city’s properties including Brookfield Place, Graybar Building, 1 Penn Plaza, MetLife Building, 4 World Trade Center and 1 Bryant Park.
