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Tenants at The Garage in Harvard Square are getting a reprieve because of the headwinds in commercial real estate development.

The developer that received approval in 2022 to demolish the Cambridge landmark is asking for a 1-year extension of the special permit, citing volatility in the office market and real estate capital markets.

Cambridge-based Trinity Property Management received approval to replace the building with a new 6-story, 87,000-square-foot structure including office and commercial space in 2022.

Because of market conditions, the developer has not terminated existing tenants’ leases, according to an April 26 letter submitted to the Cambridge Planning Board by attorney James Rafferty of Cambridge.

The office-retail property includes an eclectic mix of restaurants and specialty retailers, such as Newbury Comics.

The building includes portions originally built in the 1860s. As part of a review by the Cambridge Historical Commission, Trinity Property Management agreed to retain the remaining walls of the original stable at Mount Auburn and Dunster streets, and reconstruct arched openings on the facade to match designs in historic photographs.