Downtown Manhattan Leads Q3 Office Leasing, Report Says

Law360, New York (December 2, 2013, 6:32 PM EST) -- Downtown Manhattan was the only major office market in New York City to see positive net absorption in the third quarter, providing further proof that the formerly financial services-dominated neighborhood is diversifying, according to a report released Monday by Cushman & Wakefield.

Downtown saw the sale or lease of 523,000 square feet in the third quarter, with leasing volume jumping by 2.8 percent in October compared to the same period in 2012. At the same time, the average asking rent increased to 14.8 percent during that...
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