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	<title>Observer &#187; Pssst! The Manhattan Office Market&#039;s About to Have a Busy Summer</title>
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		<title>Observer &#187; Pssst! The Manhattan Office Market&#039;s About to Have a Busy Summer</title>
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		<title>Pssst! The Manhattan Office Market&#039;s About to Have a Busy Summer</title>

		<comments>http://observer.com/2007/05/pssst-the-manhattan-office-markets-about-to-have-a-busy-summer/#comments</comments>
		<pubDate>Mon, 07 May 2007 17:46:56 -0400</pubDate>
					<link>http://observer.com/2007/05/pssst-the-manhattan-office-markets-about-to-have-a-busy-summer/</link>
			<dc:creator>John Koblin</dc:creator>
				
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		<description><![CDATA[<pre>    <p class="MsoNormal">It’s been a sleepy year so far in the Manhattan office-leasing world, which is to be expected. Vacancy rates are at a huge low and average rents are at an all-time high. </p>  <p class="MsoNormal">But brokers are quietly saying it’s going to be a very busy summer and, indeed, things are picking up. Take midtown recently: In April, leasing activity there nearly tripled what it was in March, according to stats from brokerage CB Richard Ellis; companies leased 1.84 million square feet of office space versus 660,000 square feet in March. </p>      <p class="MsoNormal">In Manhattan overall, April hosted 2.63 million square feet of office leases, and, in March, 1.42 million. The Manhattan vacancy rate fell during April to 4.5 percent. </p>  <p class="MsoNormal">The month’s biggest lease was the 415,000-square-foot Lehman Brothers deal finally closing at 1271 Avenue of the Americas. </p>  <p class="MsoNormal"><span style="font-size: 10pt;font-family: Arial"> </span></p>  </pre>
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		<content:encoded><![CDATA[<pre>    <p class="MsoNormal">It’s been a sleepy year so far in the Manhattan office-leasing world, which is to be expected. Vacancy rates are at a huge low and average rents are at an all-time high. </p>  <p class="MsoNormal">But brokers are quietly saying it’s going to be a very busy summer and, indeed, things are picking up. Take midtown recently: In April, leasing activity there nearly tripled what it was in March, according to stats from brokerage CB Richard Ellis; companies leased 1.84 million square feet of office space versus 660,000 square feet in March. </p>      <p class="MsoNormal">In Manhattan overall, April hosted 2.63 million square feet of office leases, and, in March, 1.42 million. The Manhattan vacancy rate fell during April to 4.5 percent. </p>  <p class="MsoNormal">The month’s biggest lease was the 415,000-square-foot Lehman Brothers deal finally closing at 1271 Avenue of the Americas. </p>  <p class="MsoNormal"><span style="font-size: 10pt;font-family: Arial"> </span></p>  </pre>
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