Wednesday, September 12, 2007

Manhattan office market remaining strong

Reuters has moved a story, citing reports from Colliers, that Manhattan office leasing is at its strongest since before 9/11. Vacancies are down to 6.7% and average rents are over $62/sf. Yes, there are some signs of weakness and worries that we will eventually see more vacancies as the financial services industry upheaval continues. But the news is more good than bad.