Lies Damned Lies and...
Spring, dear reader, is a fickle season.
No, we’re not just talking about the wrath of Zeus that came down on Sunday, but the equally dampening news that Manhattan office vacancies are on the rise. They climbed for the second straight month, according to Cassidy Turley’s Manhattan Market Research Newsletter for February 2011.
The vacancy Read More
“Banks started to feel a lot better, businesses started to stabilize,” said CB Richard Ellis’ Ken Meyerson, reflecting on 2010. “There was a risk of it starting to get better and better.”
Mr. Meyerson, who helped broker 2010′s largest lease for tenant Société Générale, was not alone in eyeing the recovery in the office-leasing market Read More
Manhattan’s commercial real estate brokers talk about vacancies the way newlyweds talk about divorce. It happens, just not to us.
Our island market is thought to be sheltered from the forces of over-building that imperil other cities. But in October 2007, 3 million square feet of office space flooded that market in a single month. Read More
July brings more modestly optimistic news for the city’s commercial real estate industry, according to the latest report from brokerage Cassidy Turley.
Manhattan-wide vacancies are still dropping, down from May’s 13.1 percent to 12.8 in June, marking the lowest amount of empty office space since at least April of last year. Read More