Newmark Knight Frank C.E.O. Barry Gosin in this morning’s Wall Street Journal:
“There is a slowdown… Any major financial institution is not in a hurry to rent space right at the moment.”
Other old pros in New York commercial real estate have been saying the same thing recently about the office market. Rents have likely reached their peaks; and the credit market crises and uncertainty over the national economy aren’t helping matters.
Look for more pros to sound similarly disconsolate themes in the coming weeks.