The Real Deal New York

From the January issue: They are not easily recognizable, but they are out there all around us, on the streets of Midtown and Lower Manhattan.
They are a growing breed of office towers, not quite alive but not
entirely dead either. They are New York’s City’s zombie buildings. And
within the commercial real estate world, once a building is tagged as a
problem site, it has a difficult time shaking off the negative label,
attracting tenants and finding rental income to nurse itself back to
health.
“It is a super-slow-motion thing that is occurring,” said Glenn
Markman, a commercial broker for Cushman & Wakefield, explaining
the vicious cycle that many Manhattan buildings have gotten stuck in
since the start of the downturn. more