Manhattan (commercial) leasing activity dropped 15% in 2009, rents lowest since early 2007

Started by somewhereelse

about 16 years ago

Posts: 7435

Member since: Oct 2009

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>> Manhattan leasing activity dropped 15% in 2009 Scarcity of deals helped push rents to their lowest point since early 2007, according to Cushman & Wakefield. http://www.crainsnewyork.com/article/20100112/FREE/100119977/1058

Response by pulaski

almost 16 years ago

Posts: 824

Member since: Mar 2009

"Fed: Commercial Real Estate Deteriorating Further, NYC Remains A Dog"

"The latest Fed Beige Book is out, and once again it sounds cautiously optimistic, though certainly mixed.
One negative area is commercial reale state, an issue that nobody cares about anymore:"

http://www.businessinsider.com/fed-commercial-real-estate-deteriorating-further-nyc-remains-a-dog-2010-3

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Response by somewhereelse

almost 16 years ago

Posts: 7435

Member since: Oct 2009

Crain's a few weeks ago noted that effective rents (after incentives) were down nearly 50% off peak in Manhattan.

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