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New York

Avoiding the Plaza District: Grand Central attracts companies needing large spaces

Plaza District
Plaza District

From the April issue: The first quarter of 2013 saw few large leasing deals, especially in Midtown’s pricey Plaza District, according to an analysis compiled by commercial firm Jones Lang LaSalle last month.

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The Plaza submarket — which JLL defines as 47th to 65th streets between Sixth Avenue and the East River — is the city’s most expensive, and accounts for nearly a quarter of Manhattan’s office inventory. But it saw only 12 percent of the city’s largest deals in the first quarter of 2013 (through late March), JLL’s data showed. And the median deal size there was a paltry 9,902 square feet. [more]

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