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Some anecdotes regarding Manhattan commercial RE

Started by JuiceMan
about 15 years ago
Posts: 3578
Member since: Aug 2007
Discussion about
http://www.nytimes.com/2010/10/27/realestate/commercial/27retail.html http://latimesblogs.latimes.com/technology/2010/10/google-said-to-be-close-to-buying-its-new-york-headquarters-building-for-2-billion.html
Response by stevejhx
about 15 years ago
Posts: 12656
Member since: Feb 2008

"And in one shopping district, Times Square, the average annual asking rent of $650 a square foot is actually higher than it was in late 2008."

Wow! Higher than late 2008! That's like saying Berlin was better off in 1947 than it was in 1945. Sure, but....

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Response by somewhereelse
about 15 years ago
Posts: 7435
Member since: Oct 2009

I'm still seeing crazy amounts of empty space, some stores going under. Haven't seen a Crain's stat in a bit, but I can't imagine its good.

I know that office psfs were down again last month.

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