Another great week in the development of CoreCast!

We gave the exclusive update to our pre-order people last week. If you want more details on how CoreCast is progressing, we would ask that you join our pre-order group. We are close to a final product and need to keep sensitive IP in a tighter community. We look forward to you joining!

If being an early access user is not the right fit for you, no problem! Be on the lookout for public announcements we make on our social media channels and marketing webpage.

We have filled 19 of the 50 beta lite user spots — which means we have 31 left! If you are in commercial real estate and want early access to powerful tools built by investors for investors, now’s the time.

This first group of 50 users receives all-access for $50 for 4 months and deeply discounted pricing going forward.

Once these 50 spots are gone, they’re gone.

In the next few weeks, we are inviting our pre-order customers to get first access into CoreCast. CoreCast will be in its “beta lite” phase, meaning early access is primarily for research and development purposes.

If that sounds fun to you, and you want to enjoy the above benefits, we would love to have your support!

👉 Sign up to join our beta group here:

If you haven’t already, check out the early-stage product demo. We are working on a current version (massive progress every week!), but this video helps give an idea for how the application is starting to look, and what it will do.

Market Update - New York City

1. Vacancy / Availability Rates
Office availability remained elevated at 23.3%, reflecting ongoing space consolidations by major tenants. Industrial availability was 5.1%, still historically low despite new supply. Retail availability decreased from 18.8% to 16.3% from Q4 2023 to Q4 2024, with prime corridors like SoHo and Third Avenue as low as 11.3% and 7.9%, respectively. Multifamily vacancy stood at approximately 4.5%, supported by strong renter demand.

2. Net Absorption
Despite overall office absorption registering negative 6.2 million square feet in 2024, Class A absorption in the fourth quarter was positive at 372,589 sf. Industrial continued its positive streak with 2.7 million square feet absorbed, driven by logistics and e-commerce demand. Retail saw modest positive absorption of 138,000 square feet, led by food-and-beverage and experiential users. Multifamily added 5,420 new units, with absorption closely tracking deliveries in most submarkets.

3. Asking Rents
Industrial lease rates climbed to $23.60 per square foot NNN, up 3.2% year-over-year. Retail asking rents averaged $57.32 per square foot, with flagship corridors like Fifth Avenue pushing much higher. Multifamily rents averaged $3,980 per unit per month, down slightly from summer highs but still above pre-pandemic levels.

1  Newmark - Office

2  JP Morgan - Multifamily

3  Cushman & Wakefield - Office, Retail, Industrial

4  Metro Manhattan - 2025 Manhattan Prediction

5  CBRE - 2025 US Outlook

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