NYC Stays Atop Office Real Estate Market In 1Q

Law360, New York (April 10, 2012, 4:28 PM EDT) -- Manhattan is holding onto its dominant position in the strengthening U.S. office real estate market, but its Midtown sector, which has traditionally led the pack in any resurgence, is getting outrun by neighboring Midtown South, according to leasing data released Tuesday.

Coming off big strides in recovery at the end of 2011, with asking rents rising 9.2 percent to $62.43 per square feet, Midtown saw a significant slowdown in the first three months of 2012. This was mostly due to a whopping 4.8 million square feet...
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