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TALE OF TWO YEARS; CONTEST; DEAL SHEET
October 13, 2009
| This has been a tale of two years on the leasing side, says CB Richard Ellis NY Tri-State Region president & CEO Mitchell Rudin(below, second from left). The first half had low velocity and significant drops in rent, but the second half brought a turnaround. |
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| Tenants recognized that dramatic rent decreases had created opportunity and velocity increased, resulting in four straight months of 1M SF or more in Midtown leasing activity. The first half’s activity was mostly short-term leases, he adds, but we’ve finally returned to traditional Manhattan leases of about 15 years. Is further improvement in our future? Join Mitch as he and top execs, including Fried Frank’s Jonathan Mechanic (to his right, with Rudin Management’s Bill Rudin and CBRE’s Michael Laginestra), as they swap opinions at Bisnow’s “State of the Market Update” at Cooper Union Great Hall this Thursday morning. SIGN UP NOW! |
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But wait! You may get to join Bisnow for free this Thursday. The first three readers to e-mail us after 3pm today (early birds don’t get this worm) with the correct answers to the following will win a ticket to our “State of the Market Update”:
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