Skip Navigation
StreetEasy

Office rents drop another 10%

Started by somewhereelse
about 16 years ago
Posts: 7435
Member since: Oct 2009
Discussion about
1. Office leasing activity returns to 2006 levels Vacancy rate also drops in second quarter. Nonetheless, rents continued to fall in second quarter from year-earlier period. :: http://www.crainsnewyork.com/article/20100707/REAL_ESTATE/100709919 However, average rents still continue to fall, tumbling 10%, to $54.31 a square foot during the second quarter from the year-earlier period, according to a report released Wednesday by Cushman & Wakefield Inc.
Response by Riversider
about 16 years ago
Posts: 13573
Member since: Apr 2009

Sounds like the NYC market is turning..

Ignored comment. Unhide
Response by somewhereelse
about 16 years ago
Posts: 7435
Member since: Oct 2009

turning down?

Ignored comment. Unhide
Response by Riversider
about 16 years ago
Posts: 13573
Member since: Apr 2009

No, I think it may be turning up(a little). Banks are hiring. The optimism may be premature, but it sounds possible...

Ignored comment. Unhide
Response by Riversider
about 16 years ago
Posts: 13573
Member since: Apr 2009

To clarify business is picking up , but there is plenty to choose from in terms of space. So this is the first step towards recovery. If demand picks up more price will go up.

Ignored comment. Unhide
Response by alanhart
about 16 years ago
Posts: 12397
Member since: Feb 2007

Japanese

Ignored comment. Unhide
Response by Riversider
about 16 years ago
Posts: 13573
Member since: Apr 2009

American

Ignored comment. Unhide

Add Your Comment

Most popular

  1. Doorman Strike
    37 Comments
  2. New construction buildings with problems
    9 Comments
  3. Are mandatory floor prices legal?
    6 Comments
  4. Why private school?
    14 Comments
  5. Brooklyn Point
    3 Comments