Lackluster Leasing Sparks Debate
April 1, 2010
By: Adam Pincus

In February, Midtown suffered its slowest month of office leasing in nine months, prompting brokers to wonder whether the poor performance was the result of a pause before another rush of leasing, or a harbinger of anemic activity that will remain for months. ...

... However, Howard Nottingham, executive managing director at tenant representative firm Studley, sees the weak leasing results differently. Barring a rapid increase in employment in the city, he said he does not expect an uptick in the coming months to match the high levels seen at the end of last year.

Nottingham said the slow activity that the Manhattan leasing market saw in February and last month are going to continue for at least a few more months.  ...

... While brokers may disagree on the direction of the market, they generally still consider the landscape favorable for tenants. In fact, some landlords are still dangling extra giveaways to snag high-profile tenants -- whom they hope will, in turn, lure in other tenants. ...

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