The Real Deal New York

Office market chugs along

Despite Sandy, end-of-year deals and leasing are on pace with years past in Manhattan market

December 04, 2012 04:30PM
By Adam Pincus

From the December issue: In a weird twist, Hurricane Sandy made no measurable impact on November’s office leasing numbers. That’s despite the storm rendering nearly 20 million square feet of office space unusable as of late last month.

Just after the storm hit, brokers worked feverishly to find alternate spaces for their clients, unsure how long they would be out of their offices. But instead of signing new leases, many large companies moved to their firm’s own satellite offices, used spaces borrowed from friendly business associates or clients — or had employees work remotely. [more]

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