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Manhattan office owners spending to keep tenants

They face falling rents and heightened competition as new skyscrapers open and firms use less space

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Manhattan office landlords are facing falling rents and heightened competition, spurring unprecedented spending to accommodate tenants.

New York

MANHATTAN office landlords are facing falling rents and heightened competition, spurring unprecedented spending to accommodate tenants.

Effective rents, the amount paid after concessions, slid 7 per cent in the fourth quarter from the previous three months to an average of

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