News
NY, NY
July 8, 2010
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| Despite 100-degree weather and Fourth of July week, 225 joined us yesterday at our Big Apple Breakfast & Schmooze. Cushman & Wakefield chairman Bruce Mosler told our audience that the leasing surge YOY and vacancy in Manhattan (down from 13% to 11.5%) has been driven by tenants taking advantage of lower rents, including renegotiating leases early; and over 60 companies are in the market for more than 100k SF in space. Nationwide, Bruce says it's a “bifurcated†market, with some cities and buildings winning, and others not. |
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| World Trade Center Properties president Janno Lieber (who runs Larry Silverstein's huge projects there) actually used our forum to break news: He announced that work on Tower 3 will start this week, meaning this is the first time since 9/11 that the entire former site is under construction (Silverstein is building Towers 2, 3, 4, and 5; the Port Authority is building Tower 1). Other esteemed panelists included: Charles Cohen of Cohen Bros Realty (owner of 12M SF); North America president Michael Della Rocca of structural engineering giant Halcrow; leading owner's construction attorney and author Barry LePatner; Skanska's “green goddess†Beth Heider; and expert moderator FTI Schonbraun McCann's Joe Castellano. |
