Downtown's double blow
July 1, 2011
By: Adam Pincus

The giant, 900,000-square-foot relocation and expansion lease that Japanese financial firm Nomura Holdings America signed in Midtown late last month punctuated an improved second quarter in the Manhattan office-leasing market. ...

... Still, Marc Shapses, an executive managing director at commercial services firm Studley, said both tenants and landlords were being "extra conservative."

"People are more risk-averse. They are thinking and rethinking before making a decision," he said. ...

... "I think at the end of the day, it was catching up some of the information and getting it over to CoStar," Studley's Shapses speculated. ...
 

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