On Thursday, April 23 the NASDAQ composite stock market index reached a new record high, more than 15 years after its previous peak in March 2000. The NASDAQ is largely made up of technology companies and its collapse from the peak set in 2000 signified the bursting of the dot com bubble.
The Manhattan office market was also at a peak in 2000 and experienced a major correction.
With the return to a new record, we have taken a look at the Manhattan office market today compared to where it was in 2000. The good news is the office market today is much more stable than it was in 2000 and does not appear to be at anything like a peak.