Commercial Real Estate Surged in 4Q

7wtc Commercial Real Estate Surged in 4QThat, at any rate, is the take-away for Crain’s New York Business’ Julie Satow. Office vacancies are down all over the place. The residential market, she reports, “chugged along at a tepid pace.” (See more on that here tomorrow morning.)

Of particular interest to us:

“Downtown is also showing signs of life, with vacancy rates for Class A space falling to 9.2% from 13.2% one year ago, although the addition of the 1.7-million-square-foot 7 World Trade Center will push that rate up this quarter.”

- Tom McGeveran