Morgan Stanley to Expand at Manhattan's 1 New York Plaza
April 17, 2012
By: Michael J. Moore and David M. Levitt
Morgan Stanley, the sixth-largest U.S. bank by assets, signed a lease for almost 1.2 million square feet (111,480 square meters) of space at Brookfield Office Properties Inc. (BPO)’s 1 New York Plaza in lower Manhattan. ...
... The deal follows a weak quarter for office leasing as Wall Street firms cut jobs and delayed decisions on space. Studley Inc., a New York-based brokerage, projected last month that agreements would be signed for the rental of about 5.7 million square feet this year through March. That would be the smallest quarterly tally since the 4.5 million square feet leased in the second quarter of 2009, when demand froze in the aftermath of Lehman Brothers Holdings Inc.’s bankruptcy. ...
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