The Biggest Loser: Facing Declines
June 7, 2010

... Face rents will continue to decline through the second half, but at a more moderate pace, and there will be a smaller gap between asking and taking rents, Studley research and analytic gurus Keith DeCoster and Steve Coutts told us when we visited their new 399 Park Ave. office recently. As the year progresses, some buildings will start to see a pullback on concessions—and we may even see rents begin to trend upwards in submarkets like the Plaza District and at select Park Avenue properties. The Plaza District stands out as the one submarket with strong demand and sustained net absorption over the last several months. ...

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