Recovery For Manhattan Office Market Uncertain

Law360, New York (February 11, 2013, 7:38 PM EST) -- Two reports predicting Manhattan's commercial real estate future over the next several years exemplify the uncertainty that attorneys and other real estate practitioners still feel about the market, with one declaring a boom around the corner and the other warning that Manhattan offices are overvalued.

CBRE Group Inc.'s Econometric Advisors unit released a report Monday predicting that Manhattan would add nearly 25 million square feet of office space before 2020, almost 3 million more than the previous decade, citing the success of certain industries in the...
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