2025 Year in Review: Lindsay Ornstein, OPEN Impact Real Estate

What transaction, project, or key moment best reflected the direction of the New York CRE market this year? 

This year’s market was defined by renewed competition for high-quality space. A great example was our Plaza District search for a financial-services client, where we saw bidding wars in multiple buildings and spaces being leased before proposals were even submitted. It signaled a clear shift: well-located, well-amenitized offices are commanding premium rents and have real velocity again, and tenants who are decisive and well-prepared to move quickly are securing the best outcomes.

What emerging trends or shifts will shape opportunities for you, your firm, or market sector in 2026? 

Rising build-out costs will continue to reshape how nonprofits, particularly charter schools, plan for new space. Turnkey deals are becoming harder to structure as lingering high financing costs and exorbitantly high construction pricing pushes projects beyond what many operators can absorb. In 2026, success will hinge on earlier planning, creative partnerships and leveraging landlords who understand mission-driven tenants and are willing to collaborate to keep these critical institutions growing.

What accomplishment, milestone, project or transaction stood out for you or your firm in 2025? 

One highlight was helping Rising Ground secure an expansion that supports its growing mission and long-term stability. Their work is deeply impactful, and aligning their real-estate needs with their programmatic goals is exactly why we founded OPEN Impact. It reflected our team’s strength in guiding nonprofits through complex transactions and reinforced the value of real-estate strategies that help mission-driven organizations thrive.