Manhattan office leasing in Q1 to hit lowest level since 2009
March 23, 2012
In the first quarter of 2012, Manhattan office leasing will likely be the leanest it has been in almost three years, a report from commercial brokerage Studley says, Bloomberg News reported.
Studley projects about 5.7 million square feet of space will be leased in the first three months of the year in the borough, marking the lowest volume of leasing since the second quarter of 2009, when 4.5 million square feet was leased.
“As the saying has gone for many years, as financial services goes, so does New York City,” Mitchell Steir, Studley’s CEO, told Bloomberg. ...
Link to Article