Office space sitting empty, Cuozzo says

Steve Cuozzo’s Realty Check column in the New York Post offers a reality check for followers of the New York City real estate market. Despite claims that the market is improving, Cuozzo says reality shows otherwise. Very few people are buying up distressed real estate, at low prices or otherwise, and banks aren’t lending. Lenders aren’t yet canceling and selling off loans. And while many say that vacancy rates are not too high and that predictions of financial services firms putting office space on the market have not come to pass, many companies are leaving office space empty.