Leases not dead in Manhattan

Several deals around New York suggest that even amidst the financial crisis, office inventory will continue to get absorbed. Merchant bank Rosenthal & Rosenthal signed a 10-year renewal for 57,625 square feet at 1370 Broadway, including a ground-floor retail space. Meanwhile, two financial firms have taken a total of 25,000 square feet at 40 West 57th Street, removing the last of 175,000 square feet put on the market there as Bank of America moves to One Bryant Park. The Government of Flanders and technology firm Autonomy Inc. have leased a total of 13,000 square feet at the New York Times tower.