The psychological wall that separated hip Midtown South office tenants from their stuffier Downtown counterparts is showing signs of coming down, the New York Observer reported. [more]
Posts Tagged ‘Downtown Office Market’
Downtown office leasing jumped 73 percent in January and February, more evidence of the area’s strong recovery from Hurricane Sandy, according to Cushman and Wakefield date cited by the New York Observer. A spike in large leases — more than 50,000 square feet — helped spur the surge in activity; seven big deal closed in the first two months of 2013, compared with only two in the first two months of 2012. … [more]
Hurricane? What hurricane? Despite the damages that Sandy visited upon Downtown in late October, the commercial real estate market fared relatively well. In the fourth quarter of 2012, commercial leasing Downtown reached 1.2 million square feet — a 9 percent increase from the fourth quarter of 2011, according to CBRE. [more]
The amount of space available in the Downtown market rose to its highest level in nearly two years, as more than 2.9 million square feet officially hit the leasing market, figures released today by commercial firm CBRE Group show.
As expected, the availability rate for the Downtown market rose in October to 13.7 percent, up from 10.6 percent in September with the addition of more than 2.5 million square feet of space at Brookfield Office Properties’ World Financial Center and other properties, falling within 12 months of availability last month, the CBRE reports says. [more]