New York To Run Out Of Class B, C Office Space By 2018

Law360, New York (January 03, 2014, 6:37 PM ET) -- The supply of Class B and C office space in New York City will likely be inadequate to meet demand by 2018, as cheaper and less modern buildings continue to be repurposed into residential and hospitality properties, according to a report released in December by the NYC Economic Development Corp.

Class A space makes up 53 percent of New York's office market, while Class B and C properties have 30 and 16 percent of the market share, respectively, concentrated mostly in Manhattan.

But even that modest...
To view the full article, take a free trial now.
Try Law360 for free for seven days
Already a subscriber? Click here to login

Already have access?

  1. Forgot your password?
  2. Sign In

Get instant access to the one-stop news source for business lawyers