Lower Manhattan Leasing, Annotated


postings clip for web Lower Manhattan Leasing, Annotated
Lower Manhattan 3Q12 Leasing.

Over the course of the next three years, lower Manhattan will experience a leasing anomaly: as new and more-efficient office space hits the market,
supply and rental rates are expected to escalate simultaneously.

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For real estate analysts, who have estimated that vacancy rates could skyrocket to as high as 17.5 percent by 2015, the prospect of more product is exciting, if a bit unnerving.

As for right now, Ken McCarthy, a senior economist at Cushman & Wakefield, reviewed lower Manhattan’s third-quarter stats with The Commercial Observer and discussed which data points could affect the short-term health of the market that Silverstein Properties’ 1 World Trade Center and Brookfield Properties’ World Financial Center both call home.