The Upcoming Collapse Facing Commercial Leases--Maybe
September 1, 2010
By: Peter Kiefer

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. ...

... "I swear I have heard this for the last two years, and I am just not buying it," said Erik Schmall, executive managing director of Studley, who is skeptical of the doomsday scenario.

"The premise," Schmall said, "is flawed."  ...

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