The Real Deal New York

Long-time Midtown South tenants looking elsewhere

Out with the old as office availability tightens, prices rise
By Adam Pincus | January 06, 2015 04:36PM

From the January issue: An office neighborhood does not change its character suddenly.

Even as technology firms in recent years snapped up many of the new spaces in Midtown South and rents escalated in the area’s core, a cohort of older tenants were protected by distant lease expirations. But as the bull market extends and leases continue to roll, changes to the nature of the neighborhood are deepening. [more]