HIGHLIGHTS » Availability continued to tighten, falling 50 basis points (bps) quarterover-quarter to a six-year low of 15.0%. » Leasing activity totaled 10.8 million square feet (msf) in Q2 2026, down 6.8% from the prior quarter. Despite the quarterly decline, first-half transaction volume reached its highest level since 2014. » Legal services led Q2 leasing activity, accounting for 29.8% of total volume. » Simpson Thacher’s commitment to the full office component at 570 Fifth Avenue, following American Express’s 2.0-million-square-foot commitment at 2 World...

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On June 23, 2026, the New York City Department of Consumer and Worker Protection (DCWP) quietly adopted its final rule regulating the amended NYC Earned Safe and Sick Time Act, or “ESSTA” (also called in NYC written guidance the “New York City Protected Time Off Law”). The final rule largely leaves intact the regulatory scheme set forth in the proposed rule issued on January 22, 2026, but clarifies certain issues raised by commenters and adds additional requirements. The final rule takes...

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Among the hundreds of bills passed during New York’s 2025 legislative session are several pieces of legislation that impose regulations on developing and using AI. While some of the measures are aimed at refining recently adopted laws, some of the bills would regulate the technology in entirely new ways. The governor is a strong supporter of advancing AI technology, previously stating, “hoever leads in the AI revolution will lead the next generation of innovation and progress, and we’re making sure...

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