Some researchers say glut of rollovers looms; others beg to differ
From the September issue: Just as signs of a rebound start to emerge, researchers say New York’s commercial leasing market could be barreling toward a train wreck in 2013 and afterward. Thousands of office leases will be rolling over in fits and starts over the next six years, experts say. That means that Manhattan’s commercial market may get worse — possibly a lot worse — before it gets better. That pricey 2006 lease, in other words, is going to look a lot different as a renewal in 2013. Still, the scope of the problem is unclear. The CoStar Group declined to disclose the number of rollover leases, and major firms like CBRE and Cushman don’t track the number or keep it as proprietary information. [more]