Midtown running low on Class B offices

Midtown South is facing a shortage of Class B space. The availability of Class B space in the area has dropped by more than 900,000 square feet in a year, according to brokerage Cushman & Wakefield. And what is left is being upgraded and taken by higher-paying tenants, leaving many smaller companies — the traditional leasers of Class B space — out in the cold. more [NYT]