Long Island’s office availability falls from last year’s high

Long Island, New York's office market is on track to see positive demand this year for the first time since 2018, helped by a notable drop in available space. The metropolitan area’s availability rate has declined 110 basis points year over year to 10.2% as of October, comfortably below the national benchmark of 16.4%. However, the figure is still nearly 10% above the five-year pre-pandemic average.