The Real Deal New York

Presidential politics delay Manhattan office leasing

By Adam Pincus | August 02, 2012 11:00AM

From the August issue: While the Manhattan office-leasing market has been stuck in neutral all summer and has been dealing with Wall Street’s shrinking footprint, real estate professionals say it’s also suffering because of the uncertain outcome surrounding November’s presidential election.

Marc Holliday, CEO of the city’s largest office landlord SL Green Realty, told analysts late last month that Manhattan tenants are holding off on leasing decisions until voters decide whether to give President Barack Obama four more years in the White House or replace him with GOP contender Mitt Romney, the former governor of Massachusetts. That is, he said, despite growth in New York City office employment. [more]